NPORT-EX 2 PIPDBD1PRU033124.htm
AST CORE FIXED INCOME PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Long-Term Investments — 106.7%
Asset-Backed Securities — 11.7%
Automobiles — 3.4%
American Credit Acceptance Receivables Trust,
Series 2023-03, Class B, 144A
6.090%   11/12/27     1,345   $1,348,532
AmeriCredit Automobile Receivables Trust,
Series 2023-01, Class C
5.800%   12/18/28     1,800   1,814,001
ARI Fleet Lease Trust,
Series 2023-A, Class A2, 144A
5.410%   02/17/32     2,606   2,599,848
Series 2024-A, Class A2, 144A
5.300%   11/15/32     1,000   997,842
Avis Budget Rental Car Funding AESOP LLC,
Series 2019-03A, Class A, 144A
2.360%   03/20/26     278   271,341
Series 2021-01A, Class D, 144A
3.710%   08/20/27     5,000   4,538,734
Series 2021-02A, Class A, 144A
1.660%   02/20/28     4,700   4,281,442
Series 2022-01A, Class A, 144A
3.830%   08/21/28     5,300   5,084,384
Series 2023-02A, Class A, 144A
5.200%   10/20/27     800   798,442
Series 2023-07A, Class A, 144A
5.900%   08/21/28     1,530   1,557,421
Series 2024-01A, Class A, 144A
5.360%   06/20/30     2,660   2,673,171
Series 2024-03A, Class A, 144A
5.230%   12/20/30     4,905   4,901,105
BOF VII AL Funding Trust I,
Series 2023-CAR03, Class A2, 144A
6.291%   07/26/32     1,127   1,133,001
Series 2023-CAR03, Class B, 144A
6.632%   07/26/32     436   439,153
Carvana Auto Receivables Trust,
Series 2022-P02, Class A3
4.130%   04/12/27     2,960   2,919,828
Chesapeake Funding II LLC,
Series 2023-01A, Class A1, 144A
5.650%   05/15/35     2,180   2,182,372
Citizens Auto Receivables Trust,
Series 2024-01, Class A4, 144A
5.030%   10/15/30     1,255   1,250,446
CPS Auto Receivables Trust,
Series 2023-B, Class A, 144A
5.910%   08/16/27     2,368   2,369,340
Credit Acceptance Auto Loan Trust,
Series 2024-01A, Class A, 144A
5.680%   03/15/34     1,550   1,556,103
DT Auto Owner Trust,
Series 2023-01A, Class B, 144A
5.190%   10/16/28     1,070   1,063,336
Series 2023-02A, Class B, 144A
5.410%   02/15/29     1,180   1,173,598
Enterprise Fleet Financing LLC,
Series 2023-01, Class A3, 144A
5.420%   10/22/29     1,650   1,655,664
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Automobiles (cont’d.)
Series 2023-02, Class A2, 144A
5.560%   04/22/30     2,352   $2,354,809
Series 2024-01, Class A3, 144A
5.160%   09/20/30     645   643,317
Exeter Automobile Receivables Trust,
Series 2022-04A, Class B
4.570%   01/15/27     988   985,000
Series 2022-06A, Class B
6.030%   08/16/27     670   670,406
Series 2023-01A, Class B
5.720%   04/15/27     1,620   1,615,649
Series 2023-03A, Class B
6.110%   09/15/27     646   647,719
Flagship Credit Auto Trust,
Series 2022-03, Class B, 144A
4.690%   07/17/28     2,247   2,211,935
Series 2023-01, Class B, 144A
5.050%   01/18/28     596   589,849
Series 2023-02, Class B, 144A
5.210%   05/15/28     1,482   1,463,737
Ford Credit Auto Owner Trust,
Series 2020-01, Class A, 144A
2.040%   08/15/31     4,000   3,881,998
Series 2020-02, Class B, 144A
1.490%   04/15/33     1,730   1,622,491
Series 2021-01, Class C, 144A
1.910%   10/17/33     398   368,306
Series 2021-02, Class C, 144A
2.110%   05/15/34     1,025   935,215
Series 2023-01, Class A, 144A
4.850%   08/15/35     3,600   3,579,382
Series 2023-02, Class A, 144A
5.280%   02/15/36     2,200   2,225,946
Series 2024-01, Class A, 144A
4.870%   08/15/36     4,500   4,490,797
Ford Credit Floorplan Master Owner Trust,
Series 2023-01, Class A1, 144A
4.920%   05/15/28     2,700   2,686,686
GLS Auto Receivables Issuer Trust,
Series 2022-03A, Class B, 144A
4.920%   01/15/27     390   387,310
GM Financial Consumer Automobile Receivables Trust,
Series 2024-01, Class B
5.160%   08/16/29     195   194,638
GM Financial Revolving Receivables Trust,
Series 2024-01, Class A, 144A
4.980%   12/11/36     1,300   1,305,495
Hertz Vehicle Financing III LLC,
Series 2023-01A, Class A, 144A
5.490%   06/25/27     3,200   3,203,658
Hertz Vehicle Financing III LP,
Series 2021-02A, Class A, 144A
1.680%   12/27/27     3,776   3,445,671
Hertz Vehicle Financing LLC,
Series 2022-02A, Class A, 144A
2.330%   06/26/28     5,600   5,127,968
A1
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Automobiles (cont’d.)
Series 2023-03A, Class A, 144A
5.940%   02/25/28     5,780   $5,865,584
Honda Auto Receivables Owner Trust,
Series 2021-04, Class A3
0.880%   01/21/26     429   418,784
Hyundai Auto Lease Securitization Trust,
Series 2024-A, Class B, 144A
5.350%   05/15/28     1,485   1,482,874
Hyundai Auto Receivables Trust,
Series 2021-C, Class A3
0.740%   05/15/26     495   483,903
JPMorgan Chase Bank, NA,
Series 2021-02, Class D, 144A
1.138%   12/26/28     82   80,154
Series 2021-03, Class D, 144A
1.009%   02/26/29     132   128,469
OneMain Direct Auto Receivables Trust,
Series 2019-01A, Class A, 144A
3.630%   09/14/27     2,309   2,276,908
Series 2021-01A, Class C, 144A
1.420%   07/14/28     765   701,837
Series 2021-01A, Class D, 144A
1.620%   11/14/30     225   204,473
Series 2023-01A, Class A, 144A
5.410%   11/14/29     7,540   7,547,743
Santander Bank Auto Credit-Linked Notes,
Series 2023-B, Class B, 144A
5.640%   12/15/33     320   319,901
Santander Drive Auto Receivables Trust,
Series 2021-01, Class D
1.130%   11/16/26     1,227   1,200,613
Series 2021-02, Class D
1.350%   07/15/27     3,804   3,692,605
Series 2023-01, Class B
4.980%   02/15/28     1,255   1,246,374
Series 2023-03, Class B
5.610%   07/17/28     2,015   2,019,576
Series 2023-03, Class C
5.770%   11/15/30     1,100   1,108,234
Series 2023-04, Class C
6.040%   12/15/31     2,000   2,033,650
SBNA Auto Lease Trust,
Series 2024-A, Class A4, 144A
5.240%   01/22/29     750   748,296
SFS Auto Receivables Securitization Trust,
Series 2023-01A, Class A4, 144A
5.470%   12/20/29     1,670   1,686,441
Series 2023-01A, Class B, 144A
5.710%   01/22/30     100   101,427
Series 2023-01A, Class C, 144A
5.970%   02/20/31     200   203,252
Series 2024-01A, Class B, 144A
5.380%   01/21/31     285   285,637
Tricolor Auto Securitization Trust,
Series 2023-01A, Class A, 144A
6.480%   08/17/26     412   412,488
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Automobiles (cont’d.)
Series 2024-01A, Class A, 144A
6.610%   10/15/27     1,486   $1,487,713
Volkswagen Auto Loan Enhanced Trust,
Series 2021-01, Class A3
1.020%   06/22/26     830   810,701
Westlake Automobile Receivables Trust,
Series 2022-02A, Class B, 144A
4.310%   09/15/27     2,560   2,537,585
Series 2023-01A, Class B, 144A
5.410%   01/18/28     665   663,279
Wheels Fleet Lease Funding LLC,
Series 2023-01A, Class A, 144A
5.800%   04/18/38     3,500   3,502,102
World Omni Auto Receivables Trust,
Series 2023-A, Class B
5.030%   05/15/29     1,140   1,132,992
              135,630,681
Collateralized Debt Obligation — 0.0%
MF1 Ltd.,
Series 2021-FL06, Class A, 144A, 1 Month SOFR + 1.214% (Cap N/A, Floor 1.100%)
6.541%(c)   07/16/36     1,333   1,325,194
Collateralized Loan Obligations — 4.8%
AB BSL CLO Ltd. (Cayman Islands),
Series 2023-04A, Class A, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%)
7.318%(c)   04/20/36     670   677,014
AGL Core CLO Ltd. (Cayman Islands),
Series 2020-04A, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.649%(c)   04/20/33     250   250,055
Allegro CLO Ltd. (Cayman Islands),
Series 2014-01RA, Class A1, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%)
6.659%(c)   10/21/28     72   71,853
Series 2018-02A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%)
6.676%(c)   07/15/31     934   935,109
AMMC CLO Ltd. (Cayman Islands),
Series 2017-21A, Class A, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 1.250%)
6.827%(c)   11/02/30     154   153,885
Anchorage Capital CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1R, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 0.000%)
6.826%(c)   10/13/30     246   245,080
Series 2014-03RA, Class A, 144A, 3 Month SOFR + 1.312% (Cap N/A, Floor 0.000%)
6.631%(c)   01/28/31     266   265,696
Series 2014-04RA, Class A, 144A, 3 Month SOFR + 1.312% (Cap N/A, Floor 1.050%)
6.631%(c)   01/28/31     1,332   1,327,954
Series 2015-07A, Class AR2, 144A, 3 Month SOFR + 1.352% (Cap N/A, Floor 1.090%)
6.671%(c)   01/28/31     477   473,610
 
A2
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Anchorage Capital Europe CLO DAC (Ireland),
Series 04A, Class A, 144A, 3 Month EURIBOR + 0.870% (Cap N/A, Floor 0.870%)
4.818%(c)   04/25/34   EUR 1,722   $1,838,824
Apidos CLO Ltd. (Cayman Islands),
Series 2013-12A, Class AR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 0.000%)
6.656%(c)   04/15/31     709   709,200
Series 2013-15A, Class A1RR, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 0.000%)
6.589%(c)   04/20/31     450   450,370
Ares European CLO DAC (Ireland),
Series 11A, Class A1R, 144A, 3 Month EURIBOR + 0.770% (Cap N/A, Floor 0.770%)
4.712%(c)   04/15/32   EUR 5,722   6,102,352
Ares Loan Funding Ltd. (United Kingdom),
Series 2023-ALF4A, Class A1, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%)
7.097%(c)   10/15/36     1,130   1,132,916
Bain Capital Credit CLO Ltd. (Cayman Islands),
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%)
6.678%(c)   10/17/32     4,285   4,293,808
Bain Capital Credit CLO Ltd. (United Kingdom),
Series 2023-04A, Class B, 144A, 3 Month SOFR + 2.500% (Cap N/A, Floor 2.500%)
7.923%(c)   10/21/36     3,375   3,389,316
Barings CLO Ltd. (Cayman Islands),
Series 2020-02A, Class AR, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 1.010%)
6.586%(c)   10/15/33     1,321   1,321,741
Battalion CLO Ltd. (Cayman Islands),
Series 2015-08A, Class A1R2, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.630%(c)   07/18/30     673   673,349
Series 2018-12A, Class A1, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.651%(c)   05/17/31     950   951,262
Battalion CLO Ltd.,
Series 2024-25A, Class B, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%)
7.472%(c)   03/13/37     3,360   3,377,410
Birch Grove CLO Ltd. (Cayman Islands),
Series 2023-05A, Class A1, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%)
7.518%(c)   04/20/35     340   341,235
Birch Grove CLO Ltd. (United Kingdom),
Series 2023-07A, Class A1, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%)
7.177%(c)   10/20/36     670   674,030
BlueMountain CLO Ltd. (Cayman Islands),
Series 2013-02A, Class A1R, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 0.000%)
6.759%(c)   10/22/30     464   463,849
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
BNPP AM Euro CLO DAC (Ireland),
Series 2018-01A, Class AR, 144A, 3 Month EURIBOR + 0.600% (Cap N/A, Floor 0.600%)
4.542%(c)   04/15/31   EUR 2,083   $2,224,380
Carlyle Euro CLO DAC (Ireland),
Series 2021-02A, Class A1, 144A, 3 Month EURIBOR + 0.990% (Cap N/A, Floor 0.990%)
4.932%(c)   10/15/35   EUR 3,810   4,070,420
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands),
Series 2014-01A, Class A1R2, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
6.548%(c)   04/17/31     471   470,838
Series 2015-05A, Class A1RR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%)
6.659%(c)   01/20/32     3,039   3,038,807
Carlyle US CLO Ltd. (Cayman Islands),
Series 2024-02A, Class A, 144A, 3 Month SOFR + 1.520% (Cap N/A, Floor 1.520%)
0.010%(c)   04/25/37     1,800   1,800,632
CBAM Ltd. (Cayman Islands),
Series 2019-11RA, Class A1, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%)
6.759%(c)   01/20/35     3,040   3,033,563
Series 2020-12A, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%)
6.759%(c)   07/20/34     2,496   2,495,753
CIFC Funding Ltd. (Cayman Islands),
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.302% (Cap N/A, Floor 0.000%)
6.619%(c)   04/20/31     1,383   1,385,110
Series 2021-01A, Class A1, 144A, 3 Month SOFR + 1.372% (Cap N/A, Floor 1.372%)
6.696%(c)   04/25/33     350   350,291
Series 2021-05A, Class A, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.402%)
6.716%(c)   07/15/34     2,708   2,713,178
Series 2024-02A, Class A1, 144A, 3 Month SOFR + 1.520% (Cap N/A, Floor 1.520%)
0.010%(c)   04/22/37     1,250   1,250,225
CIFC Funding Ltd.,
Series 2020-03A, Class A1R, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 1.392%)
6.709%(c)   10/20/34     310   310,166
Clover CLO LLC,
Series 2018-01A, Class A1R, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.382%)
6.699%(c)   04/20/32     250   250,376
Clover CLO Ltd. (Cayman Islands),
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.362%)
6.686%(c)   10/25/33     3,430   3,430,028
Elevation CLO Ltd. (Cayman Islands),
Series 2017-06A, Class A1, 144A, 3 Month SOFR + 1.542% (Cap N/A, Floor 1.542%)
6.856%(c)   07/15/29     132   131,650
 
A3
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Series 2018-09A, Class A1, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.382%)
6.696%(c)   07/15/31     1,898   $1,900,844
Series 2021-13A, Class A1, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 1.190%)
6.766%(c)   07/15/34     450   450,005
Elmwood CLO Ltd. (Cayman Islands),
Series 2019-01A, Class A1RR, 144A, 3 Month SOFR + 1.520% (Cap N/A, Floor 1.520%)
6.831%(c)   04/20/37     630   631,579
Series 2022-06A, Class BR, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%)
7.717%(c)   10/17/36     3,170   3,168,462
Series 2023-02A, Class B, 144A, 3 Month SOFR + 2.250% (Cap N/A, Floor 2.250%)
7.564%(c)   04/16/36     2,195   2,195,638
Empower CLO Ltd. (Cayman Islands),
Series 2023-02A, Class A1, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%)
7.514%(c)   07/15/36     760   766,217
Flatiron CLO Ltd. (Cayman Islands),
Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.212% (Cap N/A, Floor 0.950%)
6.528%(c)   04/17/31     575   575,412
Galaxy CLO Ltd. (Cayman Islands),
Series 2013-15A, Class ARR, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
6.546%(c)   10/15/30     774   774,061
Goldentree Loan Management US CLO Ltd. (Cayman Islands),
Series 2020-07A, Class AR, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.649%(c)   04/20/34     560   559,969
Goldentree Loan Management US CLO Ltd. (United Kingdom),
Series 2022-15A, Class BR, 144A, 3 Month SOFR + 2.400% (Cap N/A, Floor 2.400%)
7.718%(c)   10/20/36     4,570   4,576,898
Goldentree Loan Opportunities Ltd. (Cayman Islands),
Series 2015-10A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 0.000%)
6.699%(c)   07/20/31     282   281,994
Series 2015-11A, Class AR2, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.630%(c)   01/18/31     166   165,717
Greywolf CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1SR, 144A, 3 Month SOFR + 1.400% (Cap N/A, Floor 1.140%)
6.717%(c)   04/15/34     2,083   2,083,808
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.440% (Cap N/A, Floor 1.440%)
6.758%(c)   10/20/31     1,666   1,667,196
Series 2020-03RA, Class A1R, 144A, 3 Month SOFR + 1.550% (Cap N/A, Floor 1.290%)
6.868%(c)   04/15/33     2,083   2,089,941
Henley CLO DAC (Ireland),
Series 04A, Class A, 144A, 3 Month EURIBOR + 0.900% (Cap N/A, Floor 0.900%)
4.848%(c)   04/25/34   EUR 1,042   1,113,564
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Hildene Community Funding CDO Ltd. (Cayman Islands),
Series 2015-01A, Class ARR, 144A
2.600%   11/01/35     2,029   $1,650,225
HPS Loan Management Ltd. (Cayman Islands),
Series 15A-19, Class A1R, 144A, 3 Month SOFR + 1.320% (Cap N/A, Floor 1.320%)
6.638%(c)   01/22/35     340   340,262
Series 2016-10A, Class A1RR, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.140%)
6.719%(c)   04/20/34     970   970,548
Invesco Euro CLO DAC (Ireland),
Series 01A, Class A1R, 144A, 3 Month EURIBOR + 0.650% (Cap N/A, Floor 0.650%)
4.592%(c)   07/15/31   EUR 2,496   2,664,053
Jamestown CLO Ltd. (Cayman Islands),
Series 2019-14A, Class A1AR, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%)
6.779%(c)   10/20/34     4,045   4,042,978
Kings Park CLO Ltd. (Cayman Islands),
Series 2021-01A, Class A, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 1.392%)
6.709%(c)   01/21/35     340   340,222
KKR CLO Ltd.,
Series 30A, Class A1R, 144A, 3 Month SOFR + 1.282% (Cap N/A, Floor 1.020%)
6.598%(c)   10/17/31     4,380   4,387,260
LCM Ltd. (Cayman Islands),
Series 29A, Class AR, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.646%(c)   04/15/31     250   249,682
Logan CLO Ltd. (Cayman Islands),
Series 2021-01A, Class A, 144A, 3 Month SOFR + 1.422% (Cap N/A, Floor 1.160%)
6.739%(c)   07/20/34     250   250,175
Madison Park Funding Ltd. (Cayman Islands),
Series 2013-11A, Class AR2, 144A, 3 Month SOFR + 1.162% (Cap N/A, Floor 0.900%)
6.477%(c)   07/23/29     726   725,725
Series 2015-19A, Class AR3, 144A, 3 Month SOFR + 1.600% (Cap N/A, Floor 1.600%)
6.918%(c)   01/22/37     495   495,484
Series 2016-21A, Class AARR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.342%)
6.656%(c)   10/15/32     4,575   4,576,642
Series 2017-23A, Class AR, 144A, 3 Month SOFR + 1.232% (Cap N/A, Floor 0.970%)
6.551%(c)   07/27/31     915   914,588
Series 2019-37A, Class AR, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%)
6.646%(c)   07/15/33     250   250,040
Marble Point CLO Ltd. (Cayman Islands),
Series 2017-02A, Class A, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%)
6.740%(c)   12/18/30     354   354,470
 
A4
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Mountain View CLO Ltd. (Cayman Islands),
Series 2013-01A, Class ARR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%)
6.588%(c)   10/12/30     1,445   $1,446,141
Series 2015-09A, Class A1R, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 0.000%)
6.696%(c)   07/15/31     1,969   1,969,390
MP CLO Ltd. (Cayman Islands),
Series 2013-01A, Class AR, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 0.000%)
6.829%(c)   10/20/30     371   371,615
Series 2015-02A, Class ARR, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%)
6.781%(c)   04/28/34     990   991,297
Neuberger Berman CLO Ltd. (Cayman Islands),
Series 2015-20A, Class ARR, 144A, 3 Month SOFR + 1.422% (Cap N/A, Floor 1.160%)
6.736%(c)   07/15/34     450   449,775
Neuberger Berman Loan Advisers CLO Ltd. (Cayman Islands),
Series 2018-29A, Class A1, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 1.130%)
6.701%(c)   10/19/31     356   355,791
Series 2020-39A, Class A1R, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%)
6.849%(c)   04/20/38     890   894,037
OCP CLO Ltd. (Cayman Islands),
Series 2014-05A, Class A1R, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%)
6.666%(c)   04/26/31     204   204,037
Series 2020-20A, Class A1R, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%)
0.010%(c)   04/18/37     5,425   5,425,000
Octagon 61 Ltd.,
Series 2023-02A, Class B, 144A, 3 Month SOFR + 2.350% (Cap N/A, Floor 2.350%)
7.668%(c)   04/20/36     3,085   3,072,403
Octagon Investment Partners Ltd. (Cayman Islands),
Series 2018-18A, Class A1A, 144A, 3 Month SOFR + 1.222% (Cap N/A, Floor 0.000%)
6.536%(c)   04/16/31     1,076   1,076,334
OFSI BSL Ltd. (Cayman Islands),
Series 2022-11A, Class A1R, 144A, 3 Month SOFR + 2.050% (Cap N/A, Floor 2.050%)
7.348%(c)   10/18/35     5,000   5,021,285
OZLM Funding Ltd. (Cayman Islands),
Series 2013-04A, Class A1R, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 0.000%)
6.829%(c)   10/22/30     121   120,991
OZLM Ltd. (Cayman Islands),
Series 2014-06A, Class A1S, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 0.000%)
6.658%(c)   04/17/31     3,907   3,911,961
Palmer Square CLO Ltd. (Cayman Islands),
Series 2013-02A, Class A1A3, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.262%)
6.578%(c)   10/17/31     224   224,256
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Series 2014-01A, Class A1R2, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 1.130%)
6.708%(c)   01/17/31     560   $560,059
Series 2018-02A, Class A1R, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%)
6.834%(c)   04/16/37     1,300   1,300,231
Palmer Square CLO Ltd. (United Kingdom),
Series 2022-05A, Class A, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%)
7.318%(c)   10/20/35     340   342,508
Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),
Series 2017-01A, Class A1R, 144A, 3 Month SOFR + 1.502% (Cap N/A, Floor 1.240%)
6.808%(c)   02/14/34     720   720,917
PPM CLO Ltd. (Cayman Islands),
Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%)
6.726%(c)   07/15/31     1,723   1,723,374
Rad CLO Ltd. (Cayman Islands),
Series 2018-02A, Class AR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%)
6.656%(c)   10/15/31     342   342,235
Series 2019-05A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%)
6.700%(c)   07/24/32     430   430,000
Series 2023-22A, Class A1, 144A, 3 Month SOFR + 1.830% (Cap N/A, Floor 1.830%)
7.202%(c)   01/20/37     1,340   1,341,529
Rockford Tower CLO Ltd. (Cayman Islands),
Series 2017-03A, Class A, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 0.000%)
6.769%(c)   10/20/30     642   642,024
Series 2018-02A, Class A, 144A, 3 Month SOFR + 1.422% (Cap N/A, Floor 1.160%)
6.739%(c)   10/20/31     2,936   2,936,585
RR Ltd. (Bermuda),
Series 2022-23A, Class A2R, 144A, 3 Month SOFR + 2.650% (Cap N/A, Floor 2.650%)
7.964%(c)   10/15/35     4,575   4,606,611
Signal Peak CLO Ltd. (Cayman Islands),
Series 2020-08A, Class A, 144A, 3 Month SOFR + 1.532% (Cap N/A, Floor 1.270%)
6.849%(c)   04/20/33     350   350,318
Sixth Street CLO Ltd. (Cayman Islands),
Series 2021-19A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%)
6.679%(c)   07/20/34     7,000   6,993,479
Sound Point CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.332%)
6.656%(c)   01/26/31     642   642,569
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%)
6.746%(c)   07/15/34     3,130   3,121,128
 
A5
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Southwick Park CLO LLC (Cayman Islands),
Series 2019-04A, Class A1R, 144A, 3 Month SOFR + 1.322% (Cap N/A, Floor 1.322%)
6.639%(c)   07/20/32     250   $250,125
St. Paul’s CLO DAC (Ireland),
Series 04A, Class ARR1, 144A, 3 Month EURIBOR + 0.830% (Cap N/A, Floor 0.830%)
4.778%(c)   04/25/30   EUR 1,695   1,819,960
Series 05A, Class ARR, 144A, 3 Month EURIBOR + 0.710% (Cap N/A, Floor 0.710%)
4.643%(c)   02/20/30   EUR 4,125   4,417,981
Steele Creek CLO Ltd. (Cayman Islands),
Series 2017-01A, Class A, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 0.000%)
6.826%(c)   10/15/30     294   294,634
Storm King Park CLO Ltd. (United Kingdom),
Series 2022-01A, Class A1, 144A, 3 Month SOFR + 2.050% (Cap N/A, Floor 2.050%)
7.364%(c)   10/15/35     250   252,462
Symphony CLO Ltd. (Cayman Islands),
Series 2021-26A, Class AR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%)
6.659%(c)   04/20/33     272   271,707
Symphony CLO Ltd. (Bermuda),
Series 2023-40A, Class A1, 144A, 3 Month SOFR + 1.640% (Cap N/A, Floor 1.640%)
6.984%(c)   01/14/34     1,300   1,305,156
TCW CLO Ltd. (Cayman Islands),
Series 2017-01A, Class A1RR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%)
6.761%(c)   10/29/34     1,815   1,816,980
Series 2021-02A, Class AS, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%)
6.766%(c)   07/25/34     2,083   2,087,425
Telos CLO Ltd. (Cayman Islands),
Series 2013-04A, Class AR, 144A, 3 Month SOFR + 1.502% (Cap N/A, Floor 0.000%)
6.818%(c)   01/17/30     674   674,668
Tikehau US CLO Ltd. (Bermuda),
Series 2022-02A, Class A1R, 144A, 3 Month SOFR + 1.870% (Cap N/A, Floor 1.870%)
7.188%(c)   01/20/36     8,250   8,295,467
Trestles CLO Ltd. (Cayman Islands),
Series 2020-03A, Class A1, 144A, 3 Month SOFR + 1.592% (Cap N/A, Floor 1.330%)
6.909%(c)   01/20/33     1,140   1,140,128
Series 2021-04A, Class A, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%)
6.749%(c)   07/21/34     580   580,000
Series 2021-05A, Class A1, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%)
6.749%(c)   10/20/34     600   600,259
Venture CLO Ltd. (Cayman Islands),
Series 2021-41A, Class A1N, 144A, 3 Month SOFR + 1.592% (Cap N/A, Floor 1.330%)
6.909%(c)   01/20/34     680   681,925
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Voya CLO Ltd. (Cayman Islands),
Series 2017-04A, Class A1, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 0.000%)
6.706%(c)   10/15/30     422   $422,427
Wellfleet CLO Ltd. (Cayman Islands),
Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%)
6.678%(c)   07/17/31     1,522   1,522,602
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%)
6.779%(c)   10/20/31     9,308   9,308,399
Wellfleet CLO Ltd.,
Series 2017-03A, Class A1, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%)
6.728%(c)   01/17/31     866   865,990
Wind River CLO Ltd. (Cayman Islands),
Series 2016-01KRA, Class A1R2, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.210%)
6.786%(c)   10/15/34     1,140   1,139,032
              191,624,201
Consumer Loans — 0.6%
Affirm Asset Securitization Trust,
Series 2023-A, Class 1A, 144A
6.610%   01/18/28     1,595   1,604,678
Series 2024-A, Class A, 144A
5.610%   02/15/29     1,320   1,320,428
Aqua Finance Trust,
Series 2021-A, Class B, 144A
2.400%   07/17/46     4,810   3,968,143
Fairstone Financial Issuance Trust (Canada),
Series 2020-01A, Class A, 144A
2.509%   10/20/39   CAD 256   185,176
Goldman Home Improvement Trust Issuer Trust,
Series 2021-GRN02, Class B, 144A
1.970%   06/25/51     194   177,718
Lendmark Funding Trust,
Series 2021-01A, Class A, 144A
1.900%   11/20/31     1,816   1,660,760
Mariner Finance Issuance Trust,
Series 2021-AA, Class A, 144A
1.860%   03/20/36     180   165,659
OneMain Financial Issuance Trust,
Series 2019-02A, Class A, 144A
3.140%   10/14/36     2,382   2,241,027
Series 2020-02A, Class A, 144A
1.750%   09/14/35     2,934   2,732,610
Series 2021-01A, Class A2, 144A, 30 Day Average SOFR + 0.760% (Cap N/A, Floor 0.000%)
6.079%(c)   06/16/36     1,756   1,749,733
Series 2022-02A, Class A, 144A
4.890%   10/14/34     2,210   2,194,238
Series 2023-02A, Class A1, 144A
5.840%   09/15/36     4,000   4,061,127
              22,061,297
 
A6
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Credit Cards — 0.2%
American Express Credit Account Master Trust,
Series 2021-01, Class A
0.900%   11/15/26     4,910   $4,766,555
Citibank Credit Card Issuance Trust,
Series 2018-A07, Class A7
3.960%   10/13/30     737   712,021
Newday Funding Master Issuer PLC (United Kingdom),
Series 2021-02A, Class A1, 144A, SONIA + 0.800% (Cap N/A, Floor 0.000%)
6.000%(c)   07/15/29   GBP 300   378,861
              5,857,437
Equipment — 0.1%
CNH Equipment Trust,
Series 2023-A, Class A4
4.770%   10/15/30     715   708,380
MMAF Equipment Finance LLC,
Series 2019-B, Class A5, 144A
2.290%   11/12/41     1,440   1,353,620
              2,062,000
Home Equity Loans — 0.2%
ACE Securities Corp. Home Equity Loan Trust,
Series 2004-IN01, Class A1, 1 Month SOFR + 0.754% (Cap N/A, Floor 0.640%)
6.084%(c)   05/25/34     129   120,720
Bear Stearns Asset-Backed Securities Trust,
Series 2003-02, Class A3, 1 Month SOFR + 1.614% (Cap 11.000%, Floor 1.500%)
6.944%(c)   03/25/43     59   58,373
EquiFirst Mortgage Loan Trust,
Series 2004-01, Class 1A1, 1 Month SOFR + 0.594% (Cap N/A, Floor 0.480%)
5.924%(c)   01/25/34     334   318,801
MASTR Asset-Backed Securities Trust,
Series 2004-OPT02, Class A2, 1 Month SOFR + 0.814% (Cap N/A, Floor 0.700%)
6.144%(c)   09/25/34     87   79,012
Series 2004-WMC02, Class M1, 1 Month SOFR + 1.014% (Cap N/A, Floor 0.900%)
6.344%(c)   04/25/34     182   173,881
Morgan Stanley ABS Capital I, Inc. Trust,
Series 2003-NC10, Class M1, 1 Month SOFR + 1.134% (Cap N/A, Floor 1.020%)
6.464%(c)   10/25/33     8   7,558
Option One Mortgage Accept Corp., Asset-Backed Certificates,
Series 2003-05, Class A2, 1 Month SOFR + 0.754% (Cap N/A, Floor 0.640%)
6.084%(c)   08/25/33     106   103,600
Option One Mortgage Loan Trust,
Series 2007-FXD02, Class 1A1
5.820%   03/25/37     3,848   3,339,139
RCKT Mortgage Trust,
Series 2024-CES01, Class A1A, 144A
6.025%(cc)   02/25/44     988   986,386
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Home Equity Loans (cont’d.)
Towd Point HE Trust,
Series 2023-01, Class A1A, 144A
6.875%   02/25/63     336   $336,891
Towd Point Mortgage Trust,
Series 2024-CES01, Class A1A, 144A
5.848%(cc)   01/25/64     294   293,910
Series 2024-CES02, Class A1A, 144A
6.125%(cc)   02/25/64     99   99,180
              5,917,451
Other — 1.9%
Aligned Data Centers Issuer LLC,
Series 2023-01A, Class A2, 144A
6.000%   08/17/48     2,270   2,269,439
CF Hippolyta Issuer LLC,
Series 2020-01, Class A1, 144A
1.690%   07/15/60     906   846,573
Series 2021-01A, Class A1, 144A
1.530%   03/15/61     391   353,674
Series 2022-01A, Class A1, 144A
5.970%   08/15/62     592   577,242
CoreVest American Finance Trust,
Series 2019-03, Class A, 144A
2.705%   10/15/52     542   529,548
Series 2020-03, Class A, 144A
1.358%   08/15/53     1,040   972,039
Credit Suisse European Mortgage Capital Ltd.,
Series 2019-1OTF, Class A, 144A, 3 Month LIBOR + 2.900% (Cap N/A, Floor 0.000%)
8.479%(c)   08/09/24     915   913,448
DB Master Finance LLC,
Series 2019-01A, Class A23, 144A
4.352%   05/20/49     5,381   5,128,267
Series 2021-01A, Class A23, 144A
2.791%   11/20/51     2,043   1,708,688
Series 2021-01A, Class A2II, 144A
2.493%   11/20/51     2,009   1,770,429
Domino’s Pizza Master Issuer LLC,
Series 2015-01A, Class A2II, 144A
4.474%   10/25/45     2,718   2,665,038
Series 2017-01A, Class A23, 144A
4.118%   07/25/47     1,626   1,556,565
Series 2019-01A, Class A2, 144A
3.668%   10/25/49     3,350   3,081,398
Series 2021-01A, Class A2II, 144A
3.151%   04/25/51     2,076   1,802,065
FHLMC Structured Pass-Through Certificates,
Series 2017-SR01, Class A3
3.089%   11/25/27     247   232,714
FirstKey Homes Trust,
Series 2021-SFR02, Class A, 144A
1.376%   09/17/38     3,262   2,960,250
Series 2022-SFR01, Class A, 144A
4.145%   05/19/39     1,152   1,116,708
Home Partners of America Trust,
Series 2021-02, Class A, 144A
1.901%   12/17/26     4,070   3,693,432
 
A7
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Other (cont’d.)
MVW LLC,
Series 2024-01A, Class C, 144A
6.200%   02/20/43     630   $631,819
New Economy Assets Phase Sponsor LLC,
Series 2021-01, Class A1, 144A
1.910%   10/20/61     3,210   2,811,127
Progress Residential Trust,
Series 2020-SFR01, Class A, 144A
1.732%   04/17/37     4,594   4,414,976
Series 2021-SFR01, Class A, 144A
1.052%   04/17/38     5,454   5,008,150
Series 2021-SFR03, Class A, 144A
1.637%   05/17/26     3,846   3,556,277
Series 2021-SFR08, Class A, 144A
1.510%   10/17/38     3,692   3,356,117
Series 2021-SFR10, Class A, 144A
2.393%   12/17/40     683   605,930
Series 2022-SFR03, Class A, 144A
3.200%   04/17/39     1,087   1,023,530
Series 2022-SFR04, Class A, 144A
4.438%   05/17/41     2,993   2,907,185
Retained Vantage Data Centers Issuer LLC,
Series 2023-01A, Class A2A, 144A
5.000%   09/15/48     3,400   3,286,437
Stack Infrastructure Issuer LLC,
Series 2023-02A, Class A2, 144A
5.900%   07/25/48     1,925   1,918,250
Series 2024-01A, Class A2, 144A
5.900%   03/25/49     1,055   1,057,285
Taco Bell Funding LLC,
Series 2021-01A, Class A2II, 144A
2.294%   08/25/51     3,439   2,986,382
TH MSR Issuer Trust,
Series 2019-FT01, Class A, 144A, 1 Month SOFR + 2.914% (Cap N/A, Floor 2.800%)
8.244%(c)   06/25/24     1,608   1,596,908
Tricon Residential Trust,
Series 2022-SFR01, Class A, 144A
3.856%   04/17/39     5,089   4,880,243
Wendy’s Funding LLC,
Series 2021-01A, Class A2II, 144A
2.775%   06/15/51     3,112   2,613,908
              74,832,041
Residential Mortgage-Backed Securities — 0.2%
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%)
6.044%(c)   02/25/34     29   27,109
Argent Securities, Inc., Asset-Backed Pass-Through Certificates,
Series 2004-W10, Class A2, 1 Month SOFR + 0.894% (Cap N/A, Floor 0.780%)
4.098%(c)   10/25/34     66   62,938
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Residential Mortgage-Backed Securities (cont’d.)
Bravo Mortgage Asset Trust,
Series 2006-01A, Class M1, 144A, 1 Month SOFR + 0.714% (Cap N/A, Floor 0.600%)
6.044%(c)   07/25/36     3,955   $3,461,492
Countrywide Asset-Backed Certificates Trust,
Series 2004-BC04, Class M1, 1 Month SOFR + 1.164% (Cap N/A, Floor 1.050%)
6.494%(c)   11/25/34     21   20,811
Credit-Based Asset Servicing & Securitization LLC,
Series 2004-CB04, Class A6
3.783%(cc)   05/25/35     4   3,762
Equity One Mortgage Pass-Through Trust,
Series 2002-05, Class M1
5.803%(cc)   11/25/32     635   615,996
Merrill Lynch Mortgage Investors Trust,
Series 2003-WMC03, Class M3, 1 Month SOFR + 2.589% (Cap N/A, Floor 2.475%)
7.919%(c)   06/25/34     71   68,880
Series 2004-WMC03, Class M2, 1 Month SOFR + 1.959% (Cap N/A, Floor 1.845%)
7.289%(c)   01/25/35     71   68,728
RAMP Trust,
Series 2006-RZ02, Class M1, 1 Month SOFR + 0.444% (Cap 14.000%, Floor 0.330%)
5.939%(c)   05/25/36     1,973   1,936,069
Structured Asset Investment Loan Trust,
Series 2004-BNC01, Class A4, 1 Month SOFR + 1.054% (Cap N/A, Floor 0.940%)
6.375%(c)   09/25/34     270   266,293
TFS (Spain),
Series 2018-03, Class A1
0.000%(s)   04/16/40^   EUR —(r)   1
Series 2018-03, Class A1, 1 Month EURIBOR + 3.250%
7.112%(c)   03/15/26^   EUR 3,153   2,891,451
              9,423,530
Small Business Loan — 0.0%
United States Small Business Administration,
Series 2019-20D, Class 1
2.980%   04/01/39     331   299,876
Series 2019-25G, Class 1
2.690%   07/01/44     562   489,706
              789,582
Student Loans — 0.3%
College Avenue Student Loans LLC,
Series 2021-A, Class A1, 144A, 1 Month SOFR + 1.214% (Cap N/A, Floor 1.100%)
6.544%(c)   07/25/51     49   48,306
Series 2021-C, Class B, 144A
2.720%   07/26/55     121   106,198
Laurel Road Prime Student Loan Trust,
Series 2018-C, Class A, 144A
0.000%(cc)   08/25/43     1,351   1,248,840
Series 2019-A, Class A2FX, 144A
2.730%   10/25/48     59   57,347
 
A8
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Student Loans (cont’d.)
Navient Private Education Refi Loan Trust,
Series 2020-FA, Class A, 144A
1.220%   07/15/69     356   $321,943
Series 2021-FA, Class A, 144A
1.110%   02/18/70     1,818   1,552,336
Series 2023-A, Class A, 144A
5.510%   10/15/71     2,290   2,299,770
Nelnet Student Loan Trust,
Series 2021-CA, Class B, 144A
2.530%   04/20/62     1,400   1,137,733
Series 2021-CA, Class C, 144A
3.360%   04/20/62     100   81,079
SMB Private Education Loan Trust,
Series 2015-C, Class R, 144A
0.000%   09/18/46     63,950   1,648,348
Series 2022-C, Class A1A, 144A
4.480%   05/16/50     1,381   1,343,239
Series 2024-A, Class A1A, 144A
5.240%   03/15/56     1,950   1,950,874
SoFi Professional Loan Program LLC,
Series 2019-C, Class A2FX, 144A
2.370%   11/16/48     411   384,791
SoFi Professional Loan Program Trust,
Series 2020-A, Class A2FX, 144A
2.540%   05/15/46     1,547   1,453,166
              13,633,970
 
Total Asset-Backed Securities

(cost $479,202,373)
  463,157,384
Commercial Mortgage-Backed Securities — 6.5%
2023-MIC Trust (The),
Series 2023-MIC, Class A, 144A
8.437%(cc)   12/05/38     1,330   1,435,990
245 Park Avenue Trust,
Series 2017-245P, Class XA, IO, 144A
0.149%(cc)   06/05/37     3,000   15,615
280 Park Avenue Mortgage Trust,
Series 2017-280P, Class A, 144A, 1 Month SOFR + 1.180% (Cap N/A, Floor 1.130%)
6.498%(c)   09/15/34     500   490,792
Banc of America Merrill Lynch Commercial Mortgage Securities Trust,
Series 2017-SCH, Class BF, 144A, 1 Month SOFR + 1.447% (Cap N/A, Floor 1.400%)
6.773%(c)   11/15/33     350   331,733
Series 2017-SCH, Class CL, 144A, 1 Month SOFR + 1.547% (Cap N/A, Floor 1.500%)
6.873%(c)   11/15/32     190   188,249
Series 2017-SCH, Class DL, 144A, 1 Month SOFR + 2.047% (Cap N/A, Floor 2.000%)
7.373%(c)   11/15/32     380   376,502
BANK,
Series 2018-BN14, Class A4
4.231%(cc)   09/15/60     1,715   1,653,511
Series 2018-BNK11, Class A2
3.784%   03/15/61     4,162   3,982,040
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2019-BN16, Class A4
4.005%   02/15/52     1,800   $1,710,077
Series 2019-BN18, Class A2
3.474%   05/15/62     975   966,859
Series 2019-BN20, Class A2
2.758%   09/15/62     2,945   2,591,286
Series 2019-BN20, Class A3
3.011%   09/15/62     2,691   2,387,413
Series 2019-BN23, Class ASB
2.846%   12/15/52     2,065   1,942,244
Series 2019-BN24, Class A3
2.960%   11/15/62     1,165   1,042,319
Series 2020-BN26, Class ASB
2.313%   03/15/63     6,236   5,783,112
Series 2020-BN30, Class ASB
1.673%   12/15/53     2,500   2,235,295
Series 2022-BNK39, Class XA, IO
0.423%(cc)   02/15/55     20,352   542,164
Series 2022-BNK40, Class A4
3.393%(cc)   03/15/64     460   410,640
Series 2022-BNK44, Class A5
5.745%(cc)   11/15/55     380   399,996
Series 2023-BNK45, Class A5
5.203%   02/15/56     620   625,521
Series 2023-BNK45, Class XA, IO
0.995%(cc)   02/15/56     5,839   365,930
Series 2023-BNK46, Class D, 144A
4.000%   08/15/56     730   498,383
Series 2023-BNK46, Class XA, IO
0.617%(cc)   08/15/56     9,315   377,299
Bank of America Merrill Lynch Commercial Mortgage Trust,
Series 2017-BNK03, Class XD, IO, 144A
1.241%(cc)   02/15/50     1,000   30,082
BANK5,
Series 2023-5YR4, Class XA, IO
0.946%(cc)   12/15/56     3,720   142,100
Barclays Commercial Mortgage Securities Trust,
Series 2018-TALL, Class A, 144A, 1 Month SOFR + 0.919% (Cap N/A, Floor 0.872%)
6.245%(c)   03/15/37     6,435   6,178,152
Series 2019-C03, Class XA, IO
1.309%(cc)   05/15/52     1,509   77,687
Series 2019-C04, Class A4
2.661%   08/15/52     2,849   2,596,954
Series 2021-C10, Class XA, IO
1.282%(cc)   07/15/54     23,730   1,529,845
Series 2022-C16, Class A5
4.600%(cc)   06/15/55     1,120   1,086,704
Series 2022-C18, Class A4
5.439%(cc)   12/15/55     1,320   1,357,696
Series 2022-C18, Class A5
5.710%(cc)   12/15/55     430   449,770
Series 2023-C19, Class A2A
5.756%   04/15/56     5,400   5,458,620
Series 2024-C24, Class A5
5.419%   02/15/57     1,525   1,568,671
 
A9
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2024-C24, Class XA, IO
1.626%(cc)   02/15/57     8,112   $888,529
Benchmark Mortgage Trust,
Series 2019-B09, Class A4
3.751%   03/15/52     8,500   7,973,091
Series 2019-B09, Class AAB
3.933%   03/15/52     2,049   1,993,963
Series 2020-B18, Class A4
1.672%   07/15/53     3,000   2,463,683
Series 2020-B19, Class A4
1.546%   09/15/53     1,500   1,258,702
Series 2021-B27, Class A3
1.792%   07/15/54     5,000   4,323,495
Series 2021-B27, Class A4
2.103%   07/15/54     4,000   3,278,877
Series 2021-B28, Class XA, IO
1.271%(cc)   08/15/54     1,387   88,975
Series 2023-B38, Class A4
5.525%   04/15/56     450   463,796
Series 2023-B39, Class A2
6.575%(cc)   07/15/56     5,000   5,163,321
Series 2023-B39, Class XA, IO
0.574%(cc)   07/15/56     19,965   816,545
Series 2023-B40, Class XA, IO
1.153%(cc)   12/15/56     5,617   373,858
Series 2023-V03, Class A3
6.363%(cc)   07/15/56     400   418,053
BLP Commercial Mortgage Trust,
Series 2023-IND, Class A, 144A, 1 Month SOFR + 1.692% (Cap N/A, Floor 1.692%)
7.017%(c)   03/15/40     410   410,769
BPR Trust,
Series 2022-OANA, Class A, 144A, 1 Month SOFR + 1.898% (Cap N/A, Floor 1.898%)
7.223%(c)   04/15/37     540   542,703
BX Commercial Mortgage Trust,
Series 2020-VKNG, Class A, 144A, 1 Month SOFR + 1.044% (Cap N/A, Floor 0.930%)
6.369%(c)   10/15/37     2,269   2,264,961
Series 2023-VLT02, Class D, 144A, 1 Month SOFR + 4.774% (Cap N/A, Floor 4.774%)
10.099%(c)   06/15/40     1,470   1,469,997
Series 2023-VLT02, Class E, 144A, 1 Month SOFR + 5.871% (Cap N/A, Floor 5.871%)
11.196%(c)   06/15/40     1,540   1,541,085
Series 2023-XL03, Class A, 144A, 1 Month SOFR + 1.761% (Cap N/A, Floor 1.761%)
7.087%(c)   12/09/40     750   754,662
Series 2024-XL05, Class A, 144A, 1 Month SOFR + 1.392% (Cap N/A, Floor 1.392%)
6.692%(c)   03/15/41     620   620,312
BX Trust,
Series 2021-LBA, Class AV, 144A, 1 Month SOFR + 0.914% (Cap N/A, Floor 0.800%)
6.240%(c)   02/15/36     395   393,675
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2022-CLS, Class B, 144A
6.300%   10/13/27     2,185   $2,051,916
Series 2024-PAT, Class A, 144A, 1 Month SOFR + 2.090% (Cap N/A, Floor 2.090%)
7.340%(c)   03/15/26     915   914,428
CD Mortgage Trust,
Series 2017-CD03, Class A4
3.631%   02/10/50     590   544,836
Series 2017-CD05, Class A3
3.171%   08/15/50     1,917   1,797,852
Series 2019-CD08, Class A3
2.657%   08/15/57     5,159   4,575,621
CFCRE Commercial Mortgage Trust,
Series 2016-C03, Class XD, IO, 144A
1.700%(cc)   01/10/48     1,390   35,357
Series 2016-C06, Class A2
2.950%   11/10/49     3,674   3,490,257
Series 2016-C07, Class A2
3.585%   12/10/54     2,517   2,394,618
Citigroup Commercial Mortgage Trust,
Series 2015-GC31, Class A3
3.497%   06/10/48     4,209   4,105,806
Series 2015-P01, Class C
4.369%(cc)   09/15/48     840   784,347
Series 2016-P04, Class A4
2.902%   07/10/49     1,015   952,947
Series 2017-C04, Class A3
3.209%   10/12/50     2,585   2,422,238
Series 2018-TBR, Class C, 144A, 1 Month SOFR + 1.714% (Cap N/A, Floor 1.350%)
7.040%(c)   12/15/36     650   644,313
Series 2019-C07, Class A4
3.102%   12/15/72     2,721   2,434,966
Series 2019-GC41, Class A4
2.620%   08/10/56     2,063   1,816,926
Series 2019-GC41, Class XA, IO
1.039%(cc)   08/10/56     29,145   1,065,024
Series 2019-GC43, Class A3
2.782%   11/10/52     3,230   2,828,939
Series 2019-GC43, Class A4
3.038%   11/10/52     3,008   2,638,213
Commercial Mortgage Trust,
Series 2014-CR17, Class XA, IO
0.771%(cc)   05/10/47     858   60
Series 2014-CR20, Class A3
3.326%   11/10/47     2,930   2,906,418
Series 2014-CR21, Class A3
3.528%   12/10/47     812   794,659
Series 2014-UBS06, Class A4
3.378%   12/10/47     1,248   1,232,193
Series 2015-03BP, Class XA, IO, 144A
0.060%(cc)   02/10/35     42,385   23,384
Series 2015-CR22, Class A3
3.207%   03/10/48     959   936,701
Series 2015-CR25, Class XA, IO
0.787%(cc)   08/10/48     552   4,377
 
A10
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2015-CR26, Class A3
3.359%   10/10/48     3,866   $3,760,461
Series 2015-LC21, Class A3
3.445%   07/10/48     2,698   2,644,228
Series 2015-LC23, Class A3
3.521%   10/10/48     2,760   2,702,116
Series 2015-LC23, Class C
4.545%(cc)   10/10/48     1,233   1,163,189
Series 2016-COR01, Class A3
2.826%   10/10/49     2,430   2,292,816
Series 2018-COR03, Class B
4.512%(cc)   05/10/51     480   412,956
Series 2019-GC44, Class A4
2.698%   08/15/57     7,000   6,201,050
Credit Suisse European Mortgage Capital Ltd.,
Series 2020-TF, Class A
7.390%(cc)   08/09/24     4,901   4,888,244
Credit Suisse Mortgage Capital Certificates,
Series 2019-ICE04, Class A, 144A, 1 Month SOFR + 1.027% (Cap N/A, Floor 0.980%)
6.353%(c)   05/15/36     1,244   1,243,908
Credit Suisse Mortgage Trust,
Series 2014-USA, Class F, 144A
4.373%   09/15/37     3,075   1,074,412
Series 2017-TIME, Class A, 144A
3.646%   11/13/39     1,199   779,818
CSAIL Commercial Mortgage Trust,
Series 2015-C02, Class A3
3.231%   06/15/57     3,846   3,780,891
Series 2016-C06, Class XA, IO
1.856%(cc)   01/15/49     1,069   28,781
Series 2017-CX10, Class A4
3.191%   11/15/50     1,566   1,468,479
Series 2018-CX12, Class A3 (original cost $1,437,603; purchased 08/08/18)(f)
3.959%   08/15/51     1,425   1,355,475
Series 2018-CX12, Class A4
4.224%(cc)   08/15/51     70   66,447
DBGS Mortgage Trust,
Series 2018-C01, Class A4
4.466%   10/15/51     2,215   2,071,678
DC Trust,
Series 2024-HLTN, Class A, 144A
5.727%(cc)   04/13/28     995   996,984
Deutsche Bank Commercial Mortgage Trust,
Series 2016-C01, Class A4
3.276%   05/10/49     170   162,408
Series 2016-C03, Class A4
2.632%   08/10/49     1,684   1,592,615
DTP Commercial Mortgage Trust,
Series 2023-STE02, Class A, 144A
5.648%(cc)   01/15/41     770   771,816
Fannie Mae-Aces,
Series 2019-M04, Class A2
3.610%   02/25/31     428   400,092
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2019-M14, Class X1, IO
0.556%(cc)   06/25/29     5,283   $115,882
Series 2020-M36, Class X1, IO
1.448%(cc)   09/25/34     1,241   60,307
FHLMC Multiclass Certificates,
Series 2020-RR02, Class BX, IO
1.666%(cc)   08/27/28     1,135   67,856
FHLMC Multifamily Structured Pass-Through Certificates,
Series GS-1768
—%(p)   05/01/28^     2,570   2,549,923
Series K0052, Class X1, IO
0.625%(cc)   11/25/25     24,423   199,464
Series K0055, Class X1, IO
1.334%(cc)   03/25/26     5,242   117,511
Series K0094, Class X1, IO
0.878%(cc)   06/25/29     3,927   147,117
Series K0094, Class XAM, IO
1.147%(cc)   06/25/29     4,252   222,393
Series K0095, Class XAM, IO
1.241%(cc)   06/25/29     964   53,542
Series K0097, Class X1, IO
1.090%(cc)   07/25/29     10,336   487,116
Series K0101, Class X1, IO
0.834%(cc)   10/25/29     809   30,367
Series K0106, Class X1, IO
1.318%(cc)   01/25/30     3,299   205,047
Series K0118, Class X1, IO
0.956%(cc)   09/25/30     8,054   391,093
Series K0120, Class X1, IO
1.036%(cc)   10/25/30     5,446   282,081
Series K0128, Class X1, IO
0.514%(cc)   03/25/31     9,015   252,677
Series K0136, Class X1, IO
0.397%(cc)   12/25/31     11,556   253,360
Series K0143, Class X1, IO
0.342%(cc)   04/25/55     6,987   166,664
Series K0162, Class X1, IO
0.370%(cc)   12/25/33     5,861   186,045
Series K0517, Class A2
5.355%(cc)   01/25/29     2,246   2,306,277
Series K0736, Class X1, IO
1.281%(cc)   07/25/26     3,353   74,636
Series K0737, Class X1, IO
0.629%(cc)   10/25/26     9,358   112,387
Series K0741, Class X1, IO
0.566%(cc)   12/25/27     3,380   59,559
Series K0742, Class X1, IO
0.775%(cc)   03/25/28     3,484   68,590
Series K0753, Class X1, IO
0.228%(cc)   01/01/50     7,370   115,854
Series K1517, Class X1, IO
1.323%(cc)   07/25/35     137   14,134
Series K1520, Class X1, IO
0.471%(cc)   02/25/36     2,824   106,935
Series KC05, Class X1, IO
1.225%(cc)   06/25/27     1,629   33,541
 
A11
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series Q001, Class XA, IO
2.104%(cc)   02/25/32     4,988   $352,538
Government National Mortgage Assoc.,
Series 2013-072, Class IO, IO
0.568%(cc)   11/16/47     2,146   30,781
Series 2013-085, Class IA, IO
0.525%(cc)   03/16/47     1,992   15,385
Series 2013-107, Class AD
2.833%(cc)   11/16/47     429   381,923
Series 2015-183, Class IO, IO
0.445%(cc)   09/16/57     2,579   56,603
Series 2017-008, Class IO, IO
0.447%(cc)   08/16/58     670   16,358
Series 2017-028, Class IO, IO
0.687%(cc)   02/16/57     560   20,215
Series 2017-041, Class IO, IO
0.584%(cc)   07/16/58     555   15,585
Series 2017-111, Class IO, IO
0.526%(cc)   02/16/59     1,041   31,015
Series 2017-145, Class IO, IO
0.505%(cc)   04/16/57     897   26,406
Series 2017-157, Class IO, IO
0.519%(cc)   12/16/59     455   15,574
Series 2020-103, Class AD
1.450%   01/16/63     694   521,944
Series 2020-109, Class AI, IO
0.838%(cc)   05/16/60     978   55,721
Series 2020-184, Class IO, IO
0.912%(cc)   11/16/60     3,157   198,032
Series 2021-14, Class IO, IO
1.325%(cc)   06/16/63     2,652   248,612
Series 2021-37, Class IO, IO
0.805%(cc)   01/16/61     6,588   386,498
Series 2021-60, Class IO, IO
0.826%(cc)   05/16/63     1,271   76,195
Series 2021-68, Class IO, IO
0.871%(cc)   10/16/62     1,507   92,514
Series 2022-003, Class B
1.850%   02/16/61     1,000   496,271
Series 2022-003, Class IO, IO
0.640%(cc)   02/16/61     2,112   103,519
Series 2022-059, Class IO, IO
0.571%(cc)   02/16/62     3,378   162,839
Series 2022-113, Class Z
2.000%   09/16/61     3,521   1,924,396
Series 2022-216, Class IO, IO
0.749%(cc)   07/16/65     1,486   95,679
Series 2022-220, Class E
3.000%(cc)   10/16/64     500   370,185
Series 2023-092, Class AH
2.000%   06/16/64     900   693,439
Series 2023-179, Class IO, IO
0.611%(cc)   09/16/63     8,239   334,125
GS Mortgage Securities Corp. II,
Series 2005-ROCK, Class A, 144A
5.366%   05/03/32     470   461,405
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2024-70P, Class A, 144A
5.133%(cc)   03/10/41     4,560   $4,519,281
Series 2024-70P, Class E, 144A
8.666%(cc)   03/10/41     920   933,571
GS Mortgage Securities Corp. Trust,
Series 2018-SRP5, Class A, 144A, 1 Month SOFR + 1.847% (Cap N/A, Floor 1.300%)
7.173%(c)   09/15/31     2,356   1,533,368
GS Mortgage Securities Trust,
Series 2014-GC26, Class A4
3.364%   11/10/47     875   866,027
Series 2015-GS01, Class A3
3.734%   11/10/48     110   105,993
Series 2019-GC38, Class AAB
3.835%   02/10/52     3,177   3,066,059
Series 2019-GC42, Class A3
2.749%   09/10/52     4,520   4,012,588
Series 2020-GC45, Class A5
2.911%   02/13/53     1,239   1,094,648
ILPT Commercial Mortgage Trust,
Series 2022-LPF2, Class A, 144A, 1 Month SOFR + 2.245% (Cap N/A, Floor 2.245%)
7.570%(c)   10/15/39     2,150   2,147,978
IMT Trust,
Series 2017-APTS, Class AFX, 144A
3.478%   06/15/34     320   317,210
JPMBB Commercial Mortgage Securities Trust,
Series 2014-C23, Class ASB
3.657%   09/15/47     69   68,476
JPMCC Commercial Mortgage Securities Trust,
Series 2017-JP07, Class A5
3.454%   09/15/50     3,000   2,774,091
JPMorgan Chase Commercial Mortgage Securities Trust,
Series 2018-WPT, Class AFX, 144A
4.248%   07/05/33     430   397,732
Series 2019-MFP, Class F, 144A, 1 Month SOFR + 3.047% (Cap N/A, Floor 3.000%)
8.373%(c)   07/15/36     500   480,032
Ladder Capital Commercial Mortgage Securities Trust,
Series 2017-LC26, Class A4, 144A
3.551%   07/12/50     2,000   1,886,671
LAQ Mortgage Trust,
Series 2023-LAQ, Class A, 144A, 1 Month SOFR + 2.091% (Cap N/A, Floor 2.091%)
7.417%(c)   03/15/36     296   296,451
Life Mortgage Trust,
Series 2021-BMR, Class A, 144A, 1 Month SOFR + 0.814% (Cap N/A, Floor 0.700%)
6.139%(c)   03/15/38     2,939   2,906,317
Med Trust,
Series 2021-MDLN, Class A, 144A, 1 Month SOFR + 1.064% (Cap N/A, Floor 0.950%)
6.389%(c)   11/15/38     1,662   1,657,869
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2014-C19, Class A4
3.526%   12/15/47     400   393,655
 
A12
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2015-C26, Class ASB
3.323%   10/15/48     342   $336,225
Series 2016-C32, Class XA, IO
0.647%(cc)   12/15/49     4,385   64,492
Series 2017-C34, Class A4
3.536%   11/15/52     4,400   4,097,562
Morgan Stanley Capital I Trust,
Series 2017-H01, Class A4
3.259%   06/15/50     750   710,316
Series 2017-H01, Class XD, IO, 144A
2.145%(cc)   06/15/50     700   39,289
Series 2019-H07, Class A3
3.005%   07/15/52     1,095   986,149
Series 2019-L02, Class A4
4.071%   03/15/52     252   237,087
MSWF Commercial Mortgage Trust,
Series 2023-02, Class A5
6.014%(cc)   12/15/56     870   930,724
Series 2023-02, Class XA, IO
0.907%(cc)   12/15/56     7,058   467,317
Natixis Commercial Mortgage Securities Trust,
Series 2018-SOX, Class A, 144A
4.404%   06/17/38     310   294,687
NJ Trust,
Series 2023-GSP, Class A, 144A
6.481%(cc)   01/06/29     2,560   2,675,044
NRTH Mortgage Trust,
Series 2024-PARK, Class A, 144A, 1 Month SOFR + 1.641% (Cap N/A, Floor 1.641%)
6.941%(c)   03/15/41     930   931,164
One Market Plaza Trust,
Series 2017-01MKT, Class XCP, IO, 144A
0.000%(cc)   02/10/32     10,119   10
Shops at Crystals Trust,
Series 2016-CSTL, Class A, 144A
3.126%   07/05/36     1,078   1,014,208
SHOW Trust,
Series 2022-BIZ, Class A, 144A, 1 Month SOFR + 2.984% (Cap N/A, Floor 2.984%)
8.302%(c)   01/15/27     1,250   1,178,192
SLG Office Trust,
Series 2021-OVA, Class A, 144A
2.585%   07/15/41     500   413,282
TYSN Mortgage Trust,
Series 2023-CRNR, Class A, 144A
6.580%(cc)   12/10/33     3,465   3,621,062
UBS Commercial Mortgage Trust,
Series 2017-C01, Class A4
3.460%   06/15/50     800   747,197
Series 2017-C05, Class A4
3.212%   11/15/50     2,687   2,523,452
Series 2017-C06, Class A4
3.320%   12/15/50     2,733   2,577,603
Series 2018-C12, Class A4 (original cost $2,403,112; purchased 08/03/18)(f)
4.030%   08/15/51     2,382   2,278,591
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
Series 2019-C16, Class A3
3.344%   04/15/52     2,063   $1,915,892
Wells Fargo Commercial Mortgage Trust,
Series 2015-LC20, Class A4
2.925%   04/15/50     3,196   3,103,173
Series 2016-LC24, Class A3
2.684%   10/15/49     2,333   2,214,221
Series 2016-NXS05, Class A5
3.372%   01/15/59     1,416   1,362,113
Series 2017-C38, Class A4
3.190%   07/15/50     2,159   2,042,274
Series 2017-C41, Class A3
3.210%   11/15/50     3,196   2,997,888
Series 2018-1745, Class A, 144A
3.749%(cc)   06/15/36     150   131,114
Series 2019-C49, Class A3
3.749%   03/15/52     2,713   2,637,787
Series 2019-C52, Class A4
2.643%   08/15/52     1,296   1,159,400
WFRBS Commercial Mortgage Trust,
Series 2014-C20, Class AS
4.176%   05/15/47     800   759,207
 
Total Commercial Mortgage-Backed Securities

(cost $276,855,523)
  259,356,417
Corporate Bonds — 31.5%
Aerospace & Defense — 0.6%
BAE Systems PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
5.125%   03/26/29     1,225   1,229,328
Boeing Co. (The),
Sr. Unsec’d. Notes
2.196%   02/04/26     651   609,614
2.700%   02/01/27     51   46,981
2.800%   03/01/27     369   341,453
3.100%   05/01/26     38   36,085
3.200%   03/01/29     612   547,095
3.250%   02/01/35     449   353,713
3.550%   03/01/38     151   113,869
3.750%   02/01/50     141   98,096
3.825%   03/01/59     945   628,970
3.900%   05/01/49     66   47,031
4.875%   05/01/25     1,395   1,379,529
5.150%   05/01/30     720   696,781
5.705%   05/01/40     213   203,879
5.805%   05/01/50     845   799,196
5.930%   05/01/60     4,005   3,751,224
Embraer Netherlands Finance BV (Brazil),
Gtd. Notes, 144A
6.950%   01/17/28     200   207,312
General Dynamics Corp.,
Gtd. Notes
4.250%   04/01/40     35   31,682
4.250%   04/01/50     253   220,910
 
A13
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Aerospace & Defense (cont’d.)
L3Harris Technologies, Inc.,
Sr. Unsec’d. Notes
4.854%   04/27/35     89   $85,119
5.050%   06/01/29     1,295   1,290,742
5.054%   04/27/45     106   99,702
5.350%   06/01/34     1,520   1,518,617
Lockheed Martin Corp.,
Sr. Unsec’d. Notes
3.900%   06/15/32     220   206,629
4.150%   06/15/53     920   775,679
4.500%   05/15/36     234   222,410
5.200%   02/15/64     150   148,465
Northrop Grumman Corp.,
Sr. Unsec’d. Notes
2.930%   01/15/25     63   61,814
3.250%   01/15/28     395   373,252
5.150%   05/01/40     510   500,026
5.250%   05/01/50(a)     1,333   1,304,787
RTX Corp.,
Sr. Unsec’d. Notes
2.250%   07/01/30     369   315,243
3.030%   03/15/52     380   251,615
3.150%   12/15/24     20   19,605
3.950%   08/16/25     282   277,379
4.125%   11/16/28     278   269,072
4.500%   06/01/42     405   361,652
5.750%   11/08/26     1,775   1,803,048
6.000%   03/15/31     340   357,487
TransDigm, Inc.,
Sr. Sec’d. Notes, 144A
6.375%   03/01/29     140   140,428
6.625%   03/01/32     160   161,645
7.125%   12/01/31     330   340,397
              22,227,561
Agriculture — 0.8%
Altria Group, Inc.,
Gtd. Notes
2.350%   05/06/25     10   9,677
2.450%   02/04/32     455   369,507
3.875%   09/16/46     278   207,929
4.800%   02/14/29     49   48,508
5.800%   02/14/39     1,096   1,111,674
5.950%   02/14/49     68   69,185
6.200%   02/14/59     155   159,890
6.875%   11/01/33     4,390   4,774,503
Archer-Daniels-Midland Co.,
Sr. Unsec’d. Notes
2.900%   03/01/32     620   534,763
4.500%   08/15/33     515   498,091
BAT Capital Corp. (United Kingdom),
Gtd. Notes
3.557%   08/15/27     118   111,670
4.540%   08/15/47     949   731,345
5.834%   02/20/31     1,315   1,330,592
6.000%   02/20/34     620   627,562
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Agriculture (cont’d.)
Cargill, Inc.,
Sr. Unsec’d. Notes, 144A
2.125%   11/10/31     2,215   $1,814,833
4.000%   06/22/32     725   672,674
4.750%   04/24/33     235   230,213
Philip Morris International, Inc.,
Sr. Unsec’d. Notes
2.100%   05/01/30     409   347,444
4.500%   03/20/42     117   102,270
4.875%   02/15/28     1,289   1,286,226
4.875%   02/13/29     210   208,848
5.125%   11/17/27     1,545   1,552,900
5.125%   02/15/30     8,820   8,822,276
5.125%   02/13/31     930   924,163
5.250%   02/13/34     170   168,417
5.375%   02/15/33     985   991,999
5.625%   09/07/33     1,405   1,437,665
Reynolds American, Inc. (United Kingdom),
Gtd. Notes
5.700%   08/15/35     1,345   1,307,664
6.150%   09/15/43     483   480,613
7.000%   08/04/41     264   275,389
Vector Group Ltd.,
Sr. Sec’d. Notes, 144A
5.750%   02/01/29     637   590,121
              31,798,611
Airlines — 0.2%
American Airlines 2015-2 Class AA Pass-Through Trust,
Pass-Through Certificates
3.600%   03/22/29     113   106,875
American Airlines 2016-1 Class AA Pass-Through Trust,
Pass-Through Certificates
3.575%   07/15/29     109   102,370
American Airlines 2016-2 Class AA Pass-Through Trust,
Pass-Through Certificates
3.200%   12/15/29     197   180,858
American Airlines, Inc.,
Sr. Sec’d. Notes, 144A
8.500%   05/15/29     290   306,256
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
Sr. Sec’d. Notes, 144A
5.500%   04/20/26     477   473,532
Continental Airlines 2012-2 Class A Pass-Through Trust,
Pass-Through Certificates
4.000%   04/29/26     130   128,127
Delta Air Lines, Inc./SkyMiles IP Ltd.,
Sr. Sec’d. Notes, 144A
4.500%   10/20/25     743   734,537
4.750%   10/20/28     1,168   1,141,720
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd.,
Sr. Sec’d. Notes, 144A
6.500%   06/20/27     504   507,376
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd.,
Sr. Sec’d. Notes, 144A
8.000%   09/20/25(a)     757   571,571
 
A14
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Airlines (cont’d.)
United Airlines 2012-1 Class A Pass-Through Trust,
Pass-Through Certificates
4.150%   10/11/25     517   $516,118
United Airlines 2014-1 Class A Pass-Through Trust,
Pass-Through Certificates
4.000%   10/11/27     127   122,836
United Airlines 2015-1 Class AA Pass-Through Trust,
Pass-Through Certificates
3.450%   06/01/29     92   86,555
United Airlines 2016-1 Class AA Pass-Through Trust,
Pass-Through Certificates
3.100%   01/07/30     76   69,867
United Airlines 2016-2 Class AA Pass-Through Trust,
Pass-Through Certificates
2.875%   04/07/30     665   602,459
United Airlines 2018-1 Class AA Pass-Through Trust,
Pass-Through Certificates
3.500%   09/01/31     117   107,315
United Airlines 2019-2 Class AA Pass-Through Trust,
Pass-Through Certificates
2.700%   11/01/33     300   257,224
United Airlines, Inc.,
Sr. Sec’d. Notes, 144A
4.375%   04/15/26     557   538,650
4.625%   04/15/29     1,108   1,030,767
              7,585,013
Apparel — 0.1%
Hanesbrands, Inc.,
Gtd. Notes, 144A
4.875%   05/15/26(a)     502   489,231
NIKE, Inc.,
Sr. Unsec’d. Notes
2.750%   03/27/27     134   126,924
3.250%   03/27/40     931   748,591
Tapestry, Inc.,
Sr. Unsec’d. Notes
7.050%   11/27/25     415   423,629
7.700%   11/27/30     305   325,424
William Carter Co. (The),
Gtd. Notes, 144A
5.625%   03/15/27     105   104,202
              2,218,001
Auto Manufacturers — 0.5%
Daimler Truck Finance North America LLC (Germany),
Gtd. Notes, 144A
3.500%   04/07/25(a)     4,750   4,651,479
Ford Motor Co.,
Sr. Unsec’d. Notes
3.250%   02/12/32     770   640,907
6.100%   08/19/32     360   364,558
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes
2.900%   02/16/28     1,305   1,179,344
2.900%   02/10/29     200   176,388
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Auto Manufacturers (cont’d.)
3.815%   11/02/27     280   $262,357
4.000%   11/13/30     987   881,923
4.271%   01/09/27     200   192,361
4.950%   05/28/27     1,330   1,297,941
7.350%   03/06/30     300   319,871
General Motors Co.,
Sr. Unsec’d. Notes
5.000%   04/01/35     1,736   1,646,583
5.150%   04/01/38     176   165,255
5.600%   10/15/32(a)     230   232,709
5.950%   04/01/49     52   51,198
6.125%   10/01/25     122   123,058
6.250%   10/02/43     990   1,011,885
6.600%   04/01/36     50   53,153
General Motors Financial Co., Inc.,
Gtd. Notes
4.000%   01/15/25     818   807,175
4.000%   10/06/26     149   144,396
4.300%   07/13/25     538   529,661
4.350%   04/09/25     512   505,696
4.350%   01/17/27     186   181,658
Sr. Unsec’d. Notes
2.900%   02/26/25     159   155,075
5.000%   04/09/27     500   496,470
Hyundai Capital America,
Sr. Unsec’d. Notes, 144A
5.250%   01/08/27     2,290   2,289,768
Nissan Motor Co. Ltd. (Japan),
Sr. Unsec’d. Notes, 144A
4.345%   09/17/27     2,188   2,082,237
              20,443,106
Auto Parts & Equipment — 0.0%
Dana Financing Luxembourg Sarl,
Gtd. Notes, 144A
5.750%   04/15/25     51   50,681
Dana, Inc.,
Sr. Unsec’d. Notes
4.250%   09/01/30(a)     617   545,163
              595,844
Banks — 10.1%
ABN AMRO Bank NV (Netherlands),
Sub. Notes, 144A, MTN
4.750%   07/28/25     231   227,716
AIB Group PLC (Ireland),
Sr. Unsec’d. Notes, 144A, MTN
5.871%(ff)   03/28/35     200   200,152
Banco Santander SA (Spain),
Sr. Non-Preferred Notes
2.746%   05/28/25     1,000   966,709
4.175%(ff)   03/24/28     200   192,466
5.538%(ff)   03/14/30     2,000   2,000,658
Sr. Preferred Notes
3.892%   05/24/24     4,400   4,389,286
 
A15
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
Sub. Notes
6.350%   03/14/34     800   $799,380
Bank of America Corp.,
Jr. Sub. Notes, Series JJ
5.125%(ff)   06/20/24(oo)     2,264   2,266,620
Sr. Unsec’d. Notes
2.299%(ff)   07/21/32     3,787   3,099,784
2.572%(ff)   10/20/32     1,317   1,090,624
2.592%(ff)   04/29/31     8,516   7,341,863
2.687%(ff)   04/22/32     5,915   5,000,060
3.841%(ff)   04/25/25     640   639,155
4.571%(ff)   04/27/33     1,300   1,234,569
5.202%(ff)   04/25/29     755   755,794
5.468%(ff)   01/23/35(a)     815   821,016
5.933%(ff)   09/15/27     1,375   1,393,660
Sr. Unsec’d. Notes, GMTN
3.593%(ff)   07/21/28     282   268,086
Sr. Unsec’d. Notes, MTN
1.319%(ff)   06/19/26     380   361,196
1.898%(ff)   07/23/31     11,123   9,131,620
1.922%(ff)   10/24/31     920   750,169
2.496%(ff)   02/13/31     1,402   1,206,584
2.972%(ff)   02/04/33     1,356   1,150,457
3.194%(ff)   07/23/30     1,496   1,357,762
3.824%(ff)   01/20/28     912   878,352
3.970%(ff)   03/05/29     974   931,180
3.974%(ff)   02/07/30     623   590,451
4.083%(ff)   03/20/51     335   275,222
4.271%(ff)   07/23/29     211   203,405
4.330%(ff)   03/15/50     517   443,404
4.376%(ff)   04/27/28     1,505   1,469,433
5.000%   01/21/44     1,003   970,605
Sub. Notes, MTN
4.000%   01/22/25     895   882,419
4.250%   10/22/26     132   129,181
4.450%   03/03/26     331   326,206
Bank of Montreal (Canada),
Sr. Unsec’d. Notes, MTN
1.850%   05/01/25     613   589,941
2.650%   03/08/27(a)     3,200   2,994,380
Sub. Notes
3.803%(ff)   12/15/32     228   212,141
Bank of New York Mellon Corp. (The),
Sr. Unsec’d. Notes, MTN
4.975%(ff)   03/14/30(a)     765   765,357
5.188%(ff)   03/14/35     1,010   1,005,481
6.317%(ff)   10/25/29     2,580   2,722,883
Bank of New Zealand (New Zealand),
Sr. Unsec’d. Notes, 144A
2.285%   01/27/27(a)     3,235   2,988,479
Bank of Nova Scotia (The) (Canada),
Sr. Unsec’d. Notes
1.300%   06/11/25     270   257,326
2.951%   03/11/27     4,540   4,288,055
Sub. Notes
4.588%(ff)   05/04/37     270   244,764
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
Barclays PLC (United Kingdom),
Sr. Unsec’d. Notes
3.650%   03/16/25     440   $431,568
5.690%(ff)   03/12/30     6,440   6,475,868
6.490%(ff)   09/13/29     940   975,844
7.385%(ff)   11/02/28     1,065   1,127,348
Sr. Unsec’d. Notes, MTN
4.972%(ff)   05/16/29     304   297,796
Sub. Notes
5.088%(ff)   06/20/30     1,572   1,512,560
BNP Paribas SA (France),
Jr. Sub. Notes, 144A
8.000%(ff)   08/22/31(oo)     500   508,750
8.500%(ff)   08/14/28(a)(oo)     550   574,062
Sr. Non-Preferred Notes, 144A
1.323%(ff)   01/13/27     3,497   3,249,012
2.219%(ff)   06/09/26     397   381,642
2.591%(ff)   01/20/28     1,433   1,326,754
2.871%(ff)   04/19/32     965   816,085
3.132%(ff)   01/20/33     1,650   1,404,446
4.400%   08/14/28     530   511,720
5.198%(ff)   01/10/30(a)     728   723,968
Sr. Preferred Notes, 144A
5.125%(ff)   01/13/29     1,490   1,488,008
5.176%(ff)   01/09/30     460   459,268
5.335%(ff)   06/12/29     1,170   1,175,906
5.894%(ff)   12/05/34     2,925   3,049,727
Sub. Notes, 144A, MTN
4.375%(ff)   03/01/33(a)     850   803,993
BPCE SA (France),
Sr. Non-Preferred Notes, 144A
5.716%(ff)   01/18/30     1,155   1,158,027
6.714%(ff)   10/19/29(a)     3,470   3,628,617
7.003%(ff)   10/19/34     2,925   3,179,327
Sub. Notes, 144A
5.150%   07/21/24     217   216,270
CaixaBank SA (Spain),
Sr. Non-Preferred Notes, 144A
5.673%(ff)   03/15/30     1,270   1,268,366
Citigroup, Inc.,
Jr. Sub. Notes, Series M
6.300%(ff)   05/15/24(oo)     823   823,367
Jr. Sub. Notes, Series V
4.700%(ff)   01/30/25(oo)     113   110,551
Sr. Unsec’d. Notes
2.561%(ff)   05/01/32     3,777   3,146,293
2.572%(ff)   06/03/31     4,598   3,930,308
3.106%(ff)   04/08/26     492   479,664
3.668%(ff)   07/24/28     948   901,422
3.785%(ff)   03/17/33     1,500   1,340,019
3.887%(ff)   01/10/28     1,057   1,019,063
4.650%   07/30/45     458   413,674
4.650%   07/23/48     130   117,639
4.658%(ff)   05/24/28     1,965   1,935,317
4.910%(ff)   05/24/33     530   511,006
5.174%(ff)   02/13/30     3,005   2,991,019
 
A16
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
8.125%   07/15/39     150   $192,226
Sr. Unsec’d. Notes, Series VAR
3.070%(ff)   02/24/28     4,250   3,998,218
Sub. Notes
4.400%   06/10/25     559   551,250
4.450%   09/29/27     964   937,485
4.600%   03/09/26     225   221,518
4.750%   05/18/46     192   170,764
5.300%   05/06/44     271   264,132
5.500%   09/13/25     541   540,928
6.125%   08/25/36     558   578,561
Citizens Financial Group, Inc.,
Sr. Unsec’d. Notes
5.841%(ff)   01/23/30     830   828,708
Cooperatieve Rabobank UA (Netherlands),
Sr. Non-Preferred Notes, 144A
3.649%(ff)   04/06/28     640   607,860
3.758%(ff)   04/06/33     310   275,933
Sr. Non-Preferred Notes, 144A, MTN
1.339%(ff)   06/24/26     927   880,380
Credit Agricole SA (France),
Sr. Non-Preferred Notes, 144A, MTN
1.907%(ff)   06/16/26     580   554,381
Credit Suisse AG (Switzerland),
Sr. Unsec’d. Notes
2.950%   04/09/25     540   525,553
5.000%   07/09/27     1,070   1,058,815
7.500%   02/15/28     1,090   1,174,905
7.950%   01/09/25     1,060   1,076,741
Danske Bank A/S (Denmark),
Sr. Non-Preferred Notes, 144A
3.244%(ff)   12/20/25     1,100   1,075,040
5.705%(ff)   03/01/30     670   674,650
Sr. Preferred Notes, 144A, MTN
6.259%(ff)   09/22/26     200   201,950
Deutsche Bank AG (Germany),
Sr. Non-Preferred Notes
2.129%(ff)   11/24/26     1,825   1,719,754
2.311%(ff)   11/16/27     545   497,710
3.961%(ff)   11/26/25     701   691,041
6.720%(ff)   01/18/29     930   961,819
6.819%(ff)   11/20/29     715   746,775
Sr. Non-Preferred Notes, SOFR + 1.219%
6.574%(c)   11/16/27     715   707,603
Sr. Preferred Notes
4.162%   05/13/25     1,095   1,078,589
Sub. Notes
3.742%(ff)   01/07/33     930   764,283
Federation des Caisses Desjardins du Quebec (Canada),
Sr. Unsec’d. Notes, 144A
5.250%   04/26/29     1,305   1,300,310
Fifth Third Bancorp,
Sr. Unsec’d. Notes
5.631%(ff)   01/29/32     265   265,397
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
Goldman Sachs Capital II,
Ltd. Gtd. Notes, 3 Month SOFR + 1.029% (Cap N/A, Floor 4.000%)
6.370%(c)   04/29/24(oo)     84   $70,738
Goldman Sachs Group, Inc. (The),
Sr. Unsec’d. Notes
1.431%(ff)   03/09/27     9,695   8,978,240
1.948%(ff)   10/21/27     190   174,673
2.383%(ff)   07/21/32     3,355   2,750,198
2.615%(ff)   04/22/32     4,379   3,672,786
2.640%(ff)   02/24/28     4,335   4,036,831
2.908%(ff)   07/21/42     165   118,523
3.500%   04/01/25     360   353,286
3.500%   11/16/26     940   900,772
3.615%(ff)   03/15/28     1,645   1,573,497
3.750%   02/25/26     266   259,747
3.850%   01/26/27     803   778,512
4.223%(ff)   05/01/29     521   501,363
4.482%(ff)   08/23/28     3,917   3,831,905
6.250%   02/01/41     629   684,359
Sr. Unsec’d. Notes, MTN
3.850%   07/08/24     351   349,228
Sub. Notes
4.250%   10/21/25     872   856,382
5.150%   05/22/45     146   141,017
6.750%   10/01/37     2,236   2,439,064
HSBC Holdings PLC (United Kingdom),
Sr. Unsec’d. Notes
2.099%(ff)   06/04/26     234   224,280
2.206%(ff)   08/17/29     3,285   2,875,170
2.804%(ff)   05/24/32     989   827,911
2.848%(ff)   06/04/31     417   359,316
5.402%(ff)   08/11/33     2,275   2,264,275
5.887%(ff)   08/14/27     1,655   1,670,429
6.161%(ff)   03/09/29     735   753,693
Sub. Notes
4.250%   08/18/25     618   605,192
4.762%(ff)   03/29/33     630   583,684
7.399%(ff)   11/13/34     455   496,246
Huntington Bancshares, Inc.,
Sr. Unsec’d. Notes
4.443%(ff)   08/04/28(a)     3,360   3,241,940
6.208%(ff)   08/21/29     390   399,389
Huntington National Bank (The),
Sr. Unsec’d. Notes
4.008%(ff)   05/16/25     2,530   2,520,439
5.650%   01/10/30     1,595   1,604,767
Intesa Sanpaolo SpA (Italy),
Sr. Non-Preferred Notes, 144A
7.778%(ff)   06/20/54     275   291,599
Sr. Preferred Notes, 144A
7.800%   11/28/53     1,535   1,734,610
Sub. Notes, 144A, MTN
5.017%   06/26/24     3,859   3,846,204
5.710%   01/15/26     300   297,216
 
A17
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
JPMorgan Chase & Co.,
Jr. Sub. Notes, Series FF
5.000%(ff)   08/01/24(oo)     1,259   $1,255,315
Sr. Unsec’d. Notes
1.578%(ff)   04/22/27     2,540   2,355,494
1.953%(ff)   02/04/32     620   504,834
2.083%(ff)   04/22/26     696   670,877
2.182%(ff)   06/01/28     462   422,818
2.522%(ff)   04/22/31     2,319   2,006,250
2.525%(ff)   11/19/41     1,589   1,109,711
2.545%(ff)   11/08/32     995   827,393
2.580%(ff)   04/22/32     655   552,964
2.739%(ff)   10/15/30     508   449,922
2.947%(ff)   02/24/28     4,250   3,993,277
2.963%(ff)   01/25/33     7,715   6,589,279
3.300%   04/01/26     615   595,521
3.540%(ff)   05/01/28     2,554   2,439,938
3.702%(ff)   05/06/30     62   58,081
3.782%(ff)   02/01/28     1,936   1,864,528
3.897%(ff)   01/23/49     407   331,530
3.960%(ff)   01/29/27     1,242   1,212,955
4.005%(ff)   04/23/29     5,020   4,809,358
4.080%(ff)   04/26/26     1,320   1,299,820
4.203%(ff)   07/23/29     1,014   977,882
4.452%(ff)   12/05/29     575   560,610
4.586%(ff)   04/26/33     40   38,295
5.299%(ff)   07/24/29     1,945   1,959,585
5.336%(ff)   01/23/35     3,825   3,838,672
6.070%(ff)   10/22/27     1,190   1,214,111
Sub. Notes
3.875%   09/10/24     6   5,951
4.250%   10/01/27     337   329,411
4.950%   06/01/45     116   110,118
JPMorgan Chase Bank NA,
Sr. Unsec’d. Notes
5.110%   12/08/26     205   205,559
Lloyds Banking Group PLC (United Kingdom),
Sr. Unsec’d. Notes
4.375%   03/22/28     624   604,381
M&T Bank Corp.,
Sr. Unsec’d. Notes
5.053%(ff)   01/27/34(a)     2,875   2,673,058
7.413%(ff)   10/30/29     2,090   2,204,698
Sub. Notes
4.000%   07/15/24(a)     550   545,726
Manufacturers & Traders Trust Co.,
Sr. Unsec’d. Notes
4.700%   01/27/28     2,915   2,809,773
5.400%   11/21/25     2,550   2,527,378
Mitsubishi UFJ Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes
3.837%(ff)   04/17/26     380   373,041
4.080%(ff)   04/19/28     390   378,817
Morgan Stanley,
Sr. Unsec’d. Notes
3.625%   01/20/27     469   452,882
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
4.210%(ff)   04/20/28     1,325   $1,287,483
5.123%(ff)   02/01/29     360   359,235
5.449%(ff)   07/20/29     585   590,036
6.407%(ff)   11/01/29     1,250   1,310,440
Sr. Unsec’d. Notes, GMTN
2.239%(ff)   07/21/32     356   290,308
2.699%(ff)   01/22/31     5,476   4,785,750
3.772%(ff)   01/24/29     377   358,742
3.875%   01/27/26     664   648,702
4.000%   07/23/25     110   108,195
4.431%(ff)   01/23/30     4,426   4,283,636
Sr. Unsec’d. Notes, MTN
1.794%(ff)   02/13/32     10,610   8,482,656
2.188%(ff)   04/28/26     847   817,300
2.511%(ff)   10/20/32     220   181,788
2.630%(ff)   02/18/26     4,260   4,147,011
3.591%(ff)   07/22/28     428   406,878
3.622%(ff)   04/01/31     1,080   991,092
5.164%(ff)   04/20/29     1,975   1,973,751
Sub. Notes, GMTN
4.350%   09/08/26     1,455   1,423,546
NatWest Group PLC (United Kingdom),
Sr. Unsec’d. Notes
4.892%(ff)   05/18/29     614   600,769
5.516%(ff)   09/30/28     3,800   3,803,629
Norinchukin Bank (The) (Japan),
Sr. Unsec’d. Notes, 144A
5.430%   03/09/28(a)     1,830   1,850,459
PNC Financial Services Group, Inc. (The),
Sr. Unsec’d. Notes
5.300%(ff)   01/21/28(a)     1,100   1,101,017
5.582%(ff)   06/12/29     570   577,008
5.676%(ff)   01/22/35     805   812,620
5.812%(ff)   06/12/26     220   220,796
6.037%(ff)   10/28/33     580   599,881
Royal Bank of Canada (Canada),
Sr. Unsec’d. Notes, GMTN
5.150%   02/01/34     350   349,785
Sr. Unsec’d. Notes, MTN
1.150%   06/10/25(a)     252   240,263
3.875%   05/04/32     440   405,298
Sr. Unsec’d. Notes, Series I, MTN
2.050%   01/21/27(a)     3,260   3,009,681
Societe Generale SA (France),
Gtd. Notes, 144A
2.797%(ff)   01/19/28     980   904,981
Sr. Non-Preferred Notes, 144A
2.226%(ff)   01/21/26     3,295   3,193,002
Sr. Non-Preferred Notes, 144A, MTN
1.792%(ff)   06/09/27     3,650   3,341,969
Sub. Notes, 144A, MTN
6.221%(ff)   06/15/33(a)     5,295   5,291,360
Standard Chartered PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
7.767%(ff)   11/16/28(a)     1,505   1,607,058
 
A18
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
State Street Corp.,
Sr. Unsec’d. Notes
2.203%(ff)   02/07/28     4,320   $4,002,914
Texas Capital Bank NA,
Sr. Unsec’d. Notes, 144A, 1 Month LIBOR + 4.500%
9.942%(c)   09/30/24     7,527   7,493,543
Toronto-Dominion Bank (The) (Canada),
Sr. Unsec’d. Notes, MTN
1.150%   06/12/25     401   381,990
2.800%   03/10/27     4,540   4,267,288
Truist Financial Corp.,
Sr. Unsec’d. Notes, MTN
6.047%(ff)   06/08/27     270   273,617
7.161%(ff)   10/30/29     840   896,119
U.S. Bancorp,
Sr. Unsec’d. Notes
5.775%(ff)   06/12/29     520   529,142
5.836%(ff)   06/12/34     170   173,305
Sr. Unsec’d. Notes, MTN
2.215%(ff)   01/27/28     4,365   4,025,720
UBS Group AG (Switzerland),
Jr. Sub. Notes, 144A
7.750%(ff)   04/12/31(oo)     200   205,785
9.250%(ff)   11/13/28(oo)     1,020   1,102,875
Sr. Unsec’d. Notes
4.550%   04/17/26     350   344,148
Sr. Unsec’d. Notes, 144A
1.305%(ff)   02/02/27     795   734,444
2.193%(ff)   06/05/26     2,721   2,603,501
2.746%(ff)   02/11/33     330   269,278
3.091%(ff)   05/14/32     827   700,882
4.194%(ff)   04/01/31     2,571   2,383,075
4.253%   03/23/28     607   583,794
5.428%(ff)   02/08/30(a)     2,250   2,250,827
6.246%(ff)   09/22/29     1,065   1,097,404
6.442%(ff)   08/11/28     1,705   1,755,753
6.537%(ff)   08/12/33     3,320   3,490,150
Wells Fargo & Co.,
Sr. Unsec’d. Notes
2.188%(ff)   04/30/26     1,154   1,111,648
3.000%   10/23/26     1,290   1,221,425
5.389%(ff)   04/24/34     545   540,915
5.499%(ff)   01/23/35     2,175   2,179,235
6.303%(ff)   10/23/29     525   546,938
6.491%(ff)   10/23/34     695   745,997
Sr. Unsec’d. Notes, MTN
2.393%(ff)   06/02/28     8,461   7,746,044
2.572%(ff)   02/11/31     270   232,652
2.879%(ff)   10/30/30     1,452   1,283,662
3.350%(ff)   03/02/33     4,120   3,572,348
4.808%(ff)   07/25/28     3,835   3,778,968
4.897%(ff)   07/25/33     1,900   1,829,569
5.013%(ff)   04/04/51     1,553   1,459,300
5.557%(ff)   07/25/34     30   30,139
5.574%(ff)   07/25/29     4,405   4,455,458
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
Sub. Notes
5.606%   01/15/44     696   $686,001
Sub. Notes, GMTN
4.900%   11/17/45     633   570,187
Sub. Notes, MTN
4.400%   06/14/46     223   185,522
4.750%   12/07/46     888   777,463
Wells Fargo Bank NA,
Sub. Notes
5.850%   02/01/37     2,103   2,186,608
Westpac Banking Corp. (Australia),
Sr. Unsec’d. Notes
5.457%   11/18/27     2,520   2,569,737
              399,260,393
Beverages — 0.2%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium),
Gtd. Notes
3.650%   02/01/26     21   20,521
4.900%   02/01/46     1,568   1,489,794
Anheuser-Busch InBev Worldwide, Inc. (Belgium),
Gtd. Notes
3.500%   06/01/30     214   199,245
4.000%   04/13/28     220   214,635
4.350%   06/01/40     1,274   1,155,631
4.750%   01/23/29     755   754,482
5.550%   01/23/49     190   198,216
Bacardi Ltd./Bacardi-Martini BV (Bermuda),
Sr. Unsec’d. Notes, 144A
5.250%   01/15/29     190   188,700
5.400%   06/15/33     475   471,225
Coca-Cola Co. (The),
Sr. Unsec’d. Notes
2.500%   06/01/40     20   14,519
Constellation Brands, Inc.,
Sr. Unsec’d. Notes
5.000%   02/02/26     1,560   1,550,508
PepsiCo, Inc.,
Sr. Unsec’d. Notes
2.625%   03/19/27     73   68,832
              6,326,308
Biotechnology — 0.3%
Amgen, Inc.,
Sr. Unsec’d. Notes
4.663%   06/15/51     146   129,128
5.250%   03/02/30     425   431,705
5.250%   03/02/33     4,925   4,966,857
5.750%   03/02/63     955   974,233
CSL Finance PLC (Australia),
Gtd. Notes, 144A
4.050%   04/27/29     385   368,895
4.250%   04/27/32     750   714,183
 
A19
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Biotechnology (cont’d.)
Gilead Sciences, Inc.,
Sr. Unsec’d. Notes
4.750%   03/01/46     213   $195,665
5.250%   10/15/33(a)     2,485   2,535,967
Royalty Pharma PLC,
Gtd. Notes
2.150%   09/02/31(a)     1,235   993,577
2.200%   09/02/30     2,230   1,851,225
              13,161,435
Building Materials — 0.0%
Carrier Global Corp.,
Sr. Unsec’d. Notes
3.577%   04/05/50     73   54,466
Standard Industries, Inc.,
Sr. Unsec’d. Notes, 144A
4.750%   01/15/28     34   32,443
5.000%   02/15/27     81   78,582
              165,491
Chemicals — 0.3%
Celanese US Holdings LLC,
Gtd. Notes
6.050%   03/15/25     879   880,794
6.165%   07/15/27(a)     2,600   2,648,273
6.550%   11/15/30     1,265   1,331,947
LYB International Finance BV,
Gtd. Notes
5.250%   07/15/43     405   376,111
MEGlobal BV (Kuwait),
Gtd. Notes, 144A, MTN
4.250%   11/03/26     409   392,896
NOVA Chemicals Corp. (Canada),
Sr. Unsec’d. Notes, 144A
4.875%   06/01/24     378   375,165
Nutrien Ltd. (Canada),
Sr. Unsec’d. Notes
5.950%   11/07/25     1,710   1,724,310
OCP SA (Morocco),
Sr. Unsec’d. Notes, 144A
3.750%   06/23/31     344   291,138
4.500%   10/22/25     411   400,725
5.125%   06/23/51     341   256,922
Orbia Advance Corp. SAB de CV (Mexico),
Gtd. Notes, 144A
1.875%   05/11/26     599   547,121
2.875%   05/11/31(a)     758   628,192
RPM International, Inc.,
Sr. Unsec’d. Notes
2.950%   01/15/32     605   511,862
Sasol Financing USA LLC (South Africa),
Gtd. Notes
6.500%   09/27/28(a)     470   447,675
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Chemicals (cont’d.)
Sherwin-Williams Co. (The),
Sr. Unsec’d. Notes
2.300%   05/15/30     1,959   $1,682,455
              12,495,586
Coal — 0.0%
Teck Resources Ltd. (Canada),
Sr. Unsec’d. Notes
6.000%   08/15/40     54   54,282
Commercial Services — 0.2%
Ashtead Capital, Inc. (United Kingdom),
Gtd. Notes, 144A
5.800%   04/15/34     625   624,577
DP World Ltd. (United Arab Emirates),
Sr. Unsec’d. Notes, 144A
2.375%   09/25/26   EUR 509   529,743
Sr. Unsec’d. Notes, 144A, MTN
5.625%   09/25/48     775   738,877
ERAC USA Finance LLC,
Gtd. Notes, 144A
3.300%   12/01/26     1,184   1,128,128
7.000%   10/15/37     425   484,940
Georgetown University (The),
Unsec’d. Notes, Series A
5.215%   10/01/2118     715   675,191
Global Payments, Inc.,
Sr. Unsec’d. Notes
2.650%   02/15/25     457   445,179
4.950%   08/15/27     1,630   1,618,152
Pelabuhan Indonesia Persero PT (Indonesia),
Sr. Unsec’d. Notes
4.250%   05/05/25     200   196,900
Service Corp. International,
Sr. Unsec’d. Notes
7.500%   04/01/27     253   262,476
United Rentals North America, Inc.,
Gtd. Notes
3.750%   01/15/32     260   226,596
4.875%   01/15/28(a)     417   405,540
5.250%   01/15/30     624   608,643
Gtd. Notes, 144A
6.125%   03/15/34(a)     1,420   1,422,109
Sec’d. Notes
3.875%   11/15/27     69   65,295
              9,432,346
Computers — 0.1%
International Business Machines Corp.,
Sr. Unsec’d. Notes
2.200%   02/09/27     3,210   2,982,486
Cosmetics/Personal Care — 0.1%
Haleon US Capital LLC,
Gtd. Notes
3.375%   03/24/27     780   746,565
3.375%   03/24/29     1,825   1,698,019
3.625%   03/24/32     400   360,467
 
A20
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Cosmetics/Personal Care (cont’d.)
Kenvue, Inc.,
Gtd. Notes
4.900%   03/22/33     490   $489,906
5.500%   03/22/25(a)     1,795   1,798,532
              5,093,489
Diversified Financial Services — 1.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland),
Gtd. Notes
2.450%   10/29/26     1,156   1,073,614
3.000%   10/29/28     829   749,659
3.300%   01/30/32     460   394,109
Air Lease Corp.,
Sr. Unsec’d. Notes
3.375%   07/01/25     272   265,056
5.300%   02/01/28     400   400,525
American Express Co.,
Jr. Sub. Notes
3.550%(ff)   09/15/26(oo)     435   402,093
Sr. Unsec’d. Notes
3.375%   05/03/24     40   39,920
4.050%   05/03/29     470   455,918
5.850%   11/05/27     2,535   2,610,911
Cantor Fitzgerald LP,
Sr. Unsec’d. Notes, 144A
4.875%   05/01/24     4,042   4,037,007
Capital One Financial Corp.,
Sr. Unsec’d. Notes
1.878%(ff)   11/02/27     1,365   1,248,650
2.636%(ff)   03/03/26     4,270   4,149,800
3.273%(ff)   03/01/30     500   450,463
4.927%(ff)   05/10/28     1,090   1,075,855
5.247%(ff)   07/26/30     1,020   1,004,524
6.312%(ff)   06/08/29     1,425   1,464,401
7.624%(ff)   10/30/31     1,870   2,065,578
Charles Schwab Corp. (The),
Sr. Unsec’d. Notes
5.875%   08/24/26     880   894,584
6.136%(ff)   08/24/34     180   188,123
CPPIB Capital, Inc. (Canada),
Gtd. Notes, 144A
0.500%   09/16/24     1,575   1,539,938
Discover Financial Services,
Sr. Unsec’d. Notes
7.964%(ff)   11/02/34     400   453,093
Intercontinental Exchange, Inc.,
Sr. Unsec’d. Notes
2.100%   06/15/30     4,540   3,853,290
Jefferies Financial Group, Inc.,
Sr. Unsec’d. Notes
6.500%   01/20/43     213   223,451
KKR Group Finance Co. II LLC,
Gtd. Notes, 144A
5.500%   02/01/43(a)     127   123,146
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Diversified Financial Services (cont’d.)
Mastercard, Inc.,
Sr. Unsec’d. Notes
3.850%   03/26/50     97   $80,416
Nationstar Mortgage Holdings, Inc.,
Gtd. Notes, 144A
6.000%   01/15/27(a)     195   192,573
Nomura Holdings, Inc. (Japan),
Sr. Unsec’d. Notes
2.608%   07/14/31     1,497   1,241,213
2.999%   01/22/32(a)     906   763,540
OMERS Finance Trust (Canada),
Gtd. Notes, 144A
1.100%   03/26/26     1,245   1,152,718
OneMain Finance Corp.,
Gtd. Notes
6.875%   03/15/25     350   353,693
PennyMac Financial Services, Inc.,
Gtd. Notes, 144A
4.250%   02/15/29     473   431,178
Power Finance Corp. Ltd. (India),
Sr. Unsec’d. Notes
4.500%   06/18/29     300   287,063
Sr. Unsec’d. Notes, EMTN
3.750%   06/18/24     200   198,950
Synchrony Financial,
Sr. Unsec’d. Notes
4.875%   06/13/25     3,315   3,266,177
The Vanguard Group Inc.,
Unsec’d. Notes
3.050%   08/22/50     2,330   1,475,633
Visa, Inc.,
Sr. Unsec’d. Notes
4.300%   12/14/45     851   767,948
              39,374,810
Electric — 3.5%
AEP Texas, Inc.,
Sr. Unsec’d. Notes
3.950%   06/01/28     546   521,165
Sr. Unsec’d. Notes, Series I
2.100%   07/01/30     5,000   4,166,172
AEP Transmission Co. LLC,
Sr. Unsec’d. Notes, Series N
2.750%   08/15/51     105   65,991
Alabama Power Co.,
Sr. Unsec’d. Notes
3.450%   10/01/49     462   342,815
3.750%   03/01/45     187   148,184
American Electric Power Co., Inc.,
Sr. Unsec’d. Notes
5.750%   11/01/27(a)     2,550   2,607,745
American Transmission Systems, Inc.,
Sr. Unsec’d. Notes, 144A
5.000%   09/01/44     482   435,735
 
A21
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Arizona Public Service Co.,
Sr. Unsec’d. Notes
5.550%   08/01/33     620   $627,032
6.350%   12/15/32     1,035   1,104,199
Calpine Corp.,
Sr. Sec’d. Notes, 144A
5.250%   06/01/26     401   396,930
Sr. Unsec’d. Notes, 144A
4.625%   02/01/29     39   36,121
5.000%   02/01/31     60   55,192
5.125%   03/15/28     1,253   1,201,869
CenterPoint Energy Houston Electric LLC,
First Mortgage, Series AE
2.350%   04/01/31     266   225,611
General Ref. Mortgage
3.950%   03/01/48     366   298,211
Cleco Corporate Holdings LLC,
Sr. Unsec’d. Notes
3.375%   09/15/29     710   619,579
Consolidated Edison Co. of New York, Inc.,
Sr. Unsec’d. Notes
3.200%   12/01/51     1,355   931,300
5.500%   03/15/34     525   542,611
Sr. Unsec’d. Notes, Series 20A
3.350%   04/01/30     194   178,913
Sr. Unsec’d. Notes, Series 20B
3.950%   04/01/50     151   122,867
Dominion Energy, Inc.,
Sr. Unsec’d. Notes
5.375%   11/15/32(a)     5,223   5,257,092
7.000%   06/15/38     592   651,604
Sr. Unsec’d. Notes, Series C
3.375%   04/01/30     1,357   1,234,774
Sr. Unsec’d. Notes, Series E
6.300%   03/15/33     75   79,014
Duke Energy Carolinas LLC,
First Mortgage
3.700%   12/01/47     161   122,262
3.950%   03/15/48     142   113,272
First Ref. Mortgage
3.750%   06/01/45     187   145,674
Duke Energy Corp.,
Sr. Unsec’d. Notes
2.450%   06/01/30     520   448,454
2.550%   06/15/31     7,379   6,219,840
4.300%   03/15/28     1,100   1,074,634
4.500%   08/15/32     2,220   2,107,297
4.850%   01/05/29     1,735   1,719,910
5.000%   08/15/52     490   444,412
Duke Energy Florida LLC,
First Mortgage
5.875%   11/15/33     1,060   1,120,855
Duke Energy Ohio, Inc.,
First Mortgage
5.250%   04/01/33     225   227,427
5.550%   03/15/54     630   628,714
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Duke Energy Progress LLC,
First Mortgage
3.700%   10/15/46     419   $320,912
Edison International,
Sr. Unsec’d. Notes
4.125%   03/15/28     410   393,043
4.950%   04/15/25     458   454,109
5.250%   11/15/28     455   454,098
Enel Finance International NV (Italy),
Gtd. Notes, 144A
1.375%   07/12/26     4,210   3,852,531
Entergy Texas, Inc.,
First Mortgage
3.550%   09/30/49     2,084   1,525,762
Eskom Holdings SOC Ltd. (South Africa),
Gov’t. Gtd. Notes, 144A, MTN
6.350%   08/10/28     551   527,582
Evergy Metro, Inc.,
Mortgage
4.200%   03/15/48     561   460,011
Evergy, Inc.,
Sr. Unsec’d. Notes
2.900%   09/15/29     1,975   1,763,953
Eversource Energy,
Sr. Unsec’d. Notes
3.375%   03/01/32     1,430   1,244,807
4.600%   07/01/27     1,595   1,569,079
5.125%   05/15/33     1,995   1,956,033
5.450%   03/01/28(a)     2,100   2,126,253
5.500%   01/01/34(a)     875   875,603
5.950%   02/01/29     830   856,609
FirstEnergy Pennsylvania Electric Co.,
Sr. Unsec’d. Notes, 144A
5.200%   04/01/28(a)     450   450,616
FirstEnergy Transmission LLC,
Sr. Unsec’d. Notes, 144A
5.450%   07/15/44     120   114,483
Georgia Power Co.,
Sr. Unsec’d. Notes
4.700%   05/15/32     1,300   1,270,644
4.950%   05/17/33     845   833,533
5.250%   03/15/34     730   737,396
Israel Electric Corp. Ltd. (Israel),
Sr. Sec’d. Notes, 144A, GMTN
4.250%   08/14/28     498   463,296
ITC Holdings Corp.,
Sr. Unsec’d. Notes, 144A
2.950%   05/14/30     1,290   1,140,709
MidAmerican Energy Co.,
First Mortgage
4.400%   10/15/44     1,400   1,215,695
4.800%   09/15/43     1,105   1,039,042
Mid-Atlantic Interstate Transmission LLC,
Sr. Unsec’d. Notes, 144A
4.100%   05/15/28     121   116,363
 
A22
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Monongahela Power Co.,
First Mortgage, 144A
5.400%   12/15/43     2,500   $2,386,544
5.850%   02/15/34     825   847,178
National Grid PLC (United Kingdom),
Sr. Unsec’d. Notes
5.602%   06/12/28     270   274,965
National Rural Utilities Cooperative Finance Corp.,
Sec’d. Notes
4.150%   12/15/32     1,640   1,521,431
5.800%   01/15/33     325   338,680
Sr. Unsec’d. Notes, GMTN
5.000%   02/07/31(a)     1,255   1,245,578
NextEra Energy Capital Holdings, Inc.,
Gtd. Notes
2.250%   06/01/30     3,595   3,060,644
4.625%   07/15/27     960   947,619
6.051%   03/01/25     665   667,564
NRG Energy, Inc.,
Gtd. Notes
5.750%   01/15/28     558   554,943
Gtd. Notes, 144A
3.375%   02/15/29     123   109,400
3.625%   02/15/31     503   434,259
3.875%   02/15/32(a)     480   411,848
Oglethorpe Power Corp.,
First Mortgage
5.050%   10/01/48     1,380   1,241,842
Ohio Edison Co.,
Sr. Unsec’d. Notes, 144A
5.500%   01/15/33     650   647,404
Ohio Power Co.,
Sr. Unsec’d. Notes
4.000%   06/01/49     328   258,203
5.000%   06/01/33     1,820   1,785,609
Oncor Electric Delivery Co. LLC,
Sr. Sec’d. Notes
5.650%   11/15/33     1,165   1,212,379
Pacific Gas & Electric Co.,
First Mortgage
2.100%   08/01/27(a)     754   678,974
2.500%   02/01/31     2,220   1,847,823
3.300%   08/01/40     82   60,221
4.550%   07/01/30     3,155   2,999,683
4.950%   07/01/50     1,496   1,288,744
5.450%   06/15/27     6,467   6,487,631
6.100%   01/15/29     530   546,000
6.150%   01/15/33     1,245   1,285,562
6.400%   06/15/33     2,160   2,276,302
Sr. Sec’d. Notes
3.250%   06/01/31     484   420,034
PacifiCorp,
First Mortgage
5.350%   12/01/53     2,725   2,535,793
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
PECO Energy Co.,
First Mortgage
3.700%   09/15/47     136   $106,467
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (Indonesia),
Sr. Unsec’d. Notes, EMTN
4.125%   05/15/27     232   222,885
PPL Capital Funding, Inc.,
Gtd. Notes
4.125%   04/15/30     475   449,243
Progress Energy, Inc.,
Sr. Unsec’d. Notes
7.750%   03/01/31     2,427   2,751,074
Public Service Electric & Gas Co.,
First Mortgage, MTN
5.450%   03/01/54(a)     860   885,873
Public Service Enterprise Group, Inc.,
Sr. Unsec’d. Notes
5.200%   04/01/29     535   535,230
5.450%   04/01/34     330   330,614
5.850%   11/15/27     1,780   1,823,529
6.125%   10/15/33(a)     870   913,931
Puget Energy, Inc.,
Sr. Sec’d. Notes
4.100%   06/15/30     1,963   1,792,715
4.224%   03/15/32     122   110,557
San Diego Gas & Electric Co.,
First Mortgage
3.950%   11/15/41     240   196,284
Southern California Edison Co.,
First Mortgage
2.250%   06/01/30     999   849,983
3.650%   02/01/50     1,845   1,368,056
4.900%   06/01/26     495   492,644
5.150%   06/01/29     1,115   1,119,022
5.200%   06/01/34     3,260   3,227,144
5.750%   04/15/54     210   212,695
5.950%   11/01/32     235   246,396
First Mortgage, Series D
4.700%   06/01/27     2,180   2,155,831
First Ref. Mortgage
4.000%   04/01/47     734   581,401
Southern Co. (The),
Jr. Sub. Notes
5.113%   08/01/27     2,150   2,151,022
Sr. Unsec’d. Notes
4.850%   06/15/28     685   681,753
5.200%   06/15/33     2,195   2,195,038
5.700%   03/15/34     2,390   2,466,600
Southern Power Co.,
Sr. Unsec’d. Notes
5.150%   09/15/41     215   200,533
Southwestern Electric Power Co.,
Sr. Unsec’d. Notes
5.300%   04/01/33     1,025   1,011,962
 
A23
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Tampa Electric Co.,
Sr. Unsec’d. Notes
4.450%   06/15/49     242   $207,236
Virginia Electric & Power Co.,
Sr. Unsec’d. Notes
5.000%   04/01/33     2,125   2,096,868
5.000%   01/15/34     1,735   1,705,303
5.350%   01/15/54     380   372,188
Vistra Operations Co. LLC,
Gtd. Notes, 144A
5.000%   07/31/27     845   818,781
5.625%   02/15/27     729   717,769
Sr. Sec’d. Notes, 144A
3.550%   07/15/24     2,750   2,728,285
Wisconsin Power & Light Co.,
Sr. Unsec’d. Notes
5.375%   03/30/34     1,070   1,076,701
Xcel Energy, Inc.,
Sr. Unsec’d. Notes
4.600%   06/01/32     735   691,735
              139,851,844
Electronics — 0.0%
Honeywell International, Inc.,
Sr. Unsec’d. Notes
5.000%   03/01/35     640   642,087
Engineering & Construction — 0.1%
Mexico City Airport Trust (Mexico),
Sr. Sec’d. Notes
5.500%   07/31/47     644   543,576
Sr. Sec’d. Notes, 144A
3.875%   04/30/28     545   511,108
4.250%   10/31/26     1,386   1,338,571
              2,393,255
Entertainment — 0.1%
Caesars Entertainment, Inc.,
Sr. Sec’d. Notes, 144A
6.500%   02/15/32(a)     80   80,785
7.000%   02/15/30     610   626,218
Warnermedia Holdings, Inc.,
Gtd. Notes
3.755%   03/15/27     190   181,299
4.054%   03/15/29     270   252,879
4.279%   03/15/32(a)     2,400   2,145,095
5.050%   03/15/42(a)     1,390   1,192,453
5.141%   03/15/52     925   768,109
6.412%   03/15/26     40   40,001
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,
Gtd. Notes, 144A
7.125%   02/15/31     280   289,853
              5,576,692
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Environmental Control — 0.0%
GFL Environmental, Inc.,
Sr. Sec’d. Notes, 144A
6.750%   01/15/31     260   $266,500
Waste Connections, Inc.,
Sr. Unsec’d. Notes
5.000%   03/01/34     400   396,147
              662,647
Foods — 0.4%
Bellis Acquisition Co. PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
3.250%   02/16/26   GBP 1,666   1,977,439
Bellis Finco PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
4.000%   02/16/27   GBP 1,002   1,136,626
Conagra Brands, Inc.,
Sr. Unsec’d. Notes
4.850%   11/01/28(a)     2,055   2,032,274
5.300%   10/01/26     1,940   1,942,159
General Mills, Inc.,
Sr. Unsec’d. Notes
5.241%   11/18/25     655   653,217
Hormel Foods Corp.,
Sr. Unsec’d. Notes
4.800%   03/30/27     1,590   1,588,177
Kraft Heinz Foods Co.,
Gtd. Notes
4.625%   10/01/39     191   173,823
6.500%   02/09/40     1,270   1,381,723
6.875%   01/26/39     6   6,780
Mars, Inc.,
Gtd. Notes, 144A
3.950%   04/01/44     505   422,250
Mondelez International, Inc.,
Sr. Unsec’d. Notes
1.500%   05/04/25     639   613,006
2.625%   03/17/27     3,190   2,988,382
Pilgrim’s Pride Corp.,
Gtd. Notes
4.250%   04/15/31     353   318,419
Sysco Corp.,
Gtd. Notes
5.750%   01/17/29     815   838,838
Tyson Foods, Inc.,
Sr. Unsec’d. Notes
5.400%   03/15/29     205   206,934
5.700%   03/15/34     750   759,546
              17,039,593
Forest Products & Paper — 0.1%
Georgia-Pacific LLC,
Sr. Unsec’d. Notes
7.375%   12/01/25     758   780,124
Suzano Austria GmbH (Brazil),
Gtd. Notes
3.750%   01/15/31     2,438   2,153,059
 
A24
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Forest Products & Paper (cont’d.)
Gtd. Notes, Series DM3N
3.125%   01/15/32     291   $241,439
              3,174,622
Gas — 0.5%
Boston Gas Co.,
Sr. Unsec’d. Notes, 144A
3.757%   03/16/32     240   210,920
Brooklyn Union Gas Co. (The),
Sr. Unsec’d. Notes, 144A
4.632%   08/05/27(a)     3,170   3,075,798
4.866%   08/05/32     3,020   2,805,036
CenterPoint Energy Resources Corp.,
Sr. Unsec’d. Notes
5.850%   01/15/41     251   260,779
KeySpan Gas East Corp.,
Sr. Unsec’d. Notes, 144A
5.994%   03/06/33     570   577,629
NiSource, Inc.,
Sr. Unsec’d. Notes
1.700%   02/15/31     460   367,695
3.600%   05/01/30     3,575   3,296,045
5.350%   04/01/34     1,305   1,296,617
5.400%   06/30/33(a)     520   524,720
Southern California Gas Co.,
First Mortgage
5.200%   06/01/33(a)     2,710   2,715,263
5.600%   04/01/54     830   829,410
5.750%   06/01/53     590   600,797
Southern Co. Gas Capital Corp.,
Gtd. Notes
5.750%   09/15/33     360   373,130
Southwest Gas Corp.,
Sr. Unsec’d. Notes
2.200%   06/15/30     1,389   1,171,847
              18,105,686
Hand/Machine Tools — 0.1%
Regal Rexnord Corp.,
Gtd. Notes, 144A
6.050%   04/15/28     2,565   2,603,216
6.300%   02/15/30     625   640,190
              3,243,406
Healthcare-Products — 0.2%
Abbott Laboratories,
Sr. Unsec’d. Notes
4.750%   11/30/36     261   258,691
Alcon Finance Corp. (Switzerland),
Gtd. Notes, 144A
5.375%   12/06/32     470   474,300
5.750%   12/06/52     350   362,683
GE HealthCare Technologies, Inc.,
Gtd. Notes
5.650%   11/15/27     1,730   1,761,564
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Healthcare-Products (cont’d.)
Medline Borrower LP/Medline Co-Issuer, Inc.,
Sr. Sec’d. Notes, 144A
6.250%   04/01/29     260   $261,172
Medtronic Global Holdings SCA,
Gtd. Notes
1.375%   10/15/40   EUR 353   277,971
Smith & Nephew PLC (United Kingdom),
Sr. Unsec’d. Notes
5.400%   03/20/34     610   606,809
Solventum Corp.,
Gtd. Notes, 144A
5.400%   03/01/29     2,150   2,155,063
5.450%   03/13/31     510   508,764
5.600%   03/23/34     650   652,049
5.900%   04/30/54     540   539,086
Thermo Fisher Scientific, Inc.,
Sr. Unsec’d. Notes, EMTN
1.500%   10/01/39   EUR 495   408,160
1.875%   10/01/49   EUR 323   249,573
              8,515,885
Healthcare-Services — 0.8%
Aetna, Inc.,
Sr. Unsec’d. Notes
4.500%   05/15/42     283   245,378
6.750%   12/15/37     469   522,567
Ascension Health,
Sr. Unsec’d. Notes, Series B
3.106%   11/15/39     523   413,977
CommonSpirit Health,
Sec’d. Notes
4.350%   11/01/42     214   185,141
Sr. Sec’d. Notes
2.760%   10/01/24     3,577   3,521,914
5.205%   12/01/31     1,180   1,181,079
5.318%   12/01/34     3,145   3,148,447
DaVita, Inc.,
Gtd. Notes, 144A
4.625%   06/01/30     1,315   1,177,056
Elevance Health, Inc.,
Sr. Unsec’d. Notes
4.100%   05/15/32     280   261,653
4.550%   05/15/52     210   183,781
HCA, Inc.,
Gtd. Notes
4.500%   02/15/27     46   45,102
5.250%   06/15/26     87   86,752
5.450%   04/01/31     225   226,301
5.500%   06/15/47     656   623,583
5.600%   04/01/34     1,495   1,505,491
Humana, Inc.,
Sr. Unsec’d. Notes
2.150%   02/03/32     200   159,900
3.950%   03/15/27     199   192,703
4.800%   03/15/47     48   42,158
4.950%   10/01/44     176   160,038
 
A25
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Healthcare-Services (cont’d.)
5.375%   04/15/31     705   $705,662
5.750%   03/01/28     1,680   1,718,739
5.750%   12/01/28     290   297,355
5.875%   03/01/33     555   572,481
Kaiser Foundation Hospitals,
Gtd. Notes
4.150%   05/01/47     1,170   1,007,539
Unsec’d. Notes, Series 2021
2.810%   06/01/41     985   727,226
3.002%   06/01/51     145   100,342
LifePoint Health, Inc.,
Sr. Sec’d. Notes, 144A
9.875%   08/15/30     50   52,298
11.000%   10/15/30     80   85,516
New York & Presbyterian Hospital (The),
Unsec’d. Notes
4.063%   08/01/56     1,030   848,533
NYU Langone Hospitals,
Sec’d. Notes
4.368%   07/01/47     175   155,652
PeaceHealth Obligated Group,
Sr. Unsec’d. Notes, Series 2020
1.375%   11/15/25     168   156,747
Tenet Healthcare Corp.,
Sr. Sec’d. Notes
4.250%   06/01/29     275   255,501
4.625%   06/15/28     200   190,544
5.125%   11/01/27     358   350,053
UnitedHealth Group, Inc.,
Sr. Unsec’d. Notes
1.250%   01/15/26     220   206,098
2.300%   05/15/31     120   101,548
3.125%   05/15/60     73   48,074
3.250%   05/15/51     168   120,794
3.875%   08/15/59     511   394,478
4.000%   05/15/29     1,295   1,251,854
4.200%   05/15/32     1,180   1,121,329
4.450%   12/15/48(a)     117   104,053
4.625%   11/15/41     701   651,110
4.750%   05/15/52     1,470   1,361,515
4.950%   05/15/62     310   289,773
5.050%   04/15/53     1,355   1,317,316
5.375%   04/15/54     1,740   1,769,253
5.700%   10/15/40     976   1,020,829
5.875%   02/15/53     860   930,988
6.050%   02/15/63     255   280,782
              32,077,003
Home Builders — 0.1%
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada),
Gtd. Notes, 144A
6.250%   09/15/27(a)     180   175,500
Sr. Unsec’d. Notes, 144A
5.000%   06/15/29     378   341,145
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Home Builders (cont’d.)
Lennar Corp.,
Gtd. Notes
4.750%   05/30/25     79   $78,322
4.750%   11/29/27     180   177,784
M/I Homes, Inc.,
Gtd. Notes
4.950%   02/01/28     535   509,823
Mattamy Group Corp. (Canada),
Sr. Unsec’d. Notes, 144A
4.625%   03/01/30     372   335,730
5.250%   12/15/27     294   284,445
MDC Holdings, Inc.,
Gtd. Notes
6.000%   01/15/43     58   58,931
Taylor Morrison Communities, Inc.,
Gtd. Notes, 144A
5.875%   06/15/27     249   248,966
Sr. Unsec’d. Notes, 144A
5.125%   08/01/30(a)     274   261,883
Tri Pointe Homes, Inc.,
Gtd. Notes
5.250%   06/01/27     307   299,663
              2,772,192
Insurance — 1.0%
Aon Corp.,
Gtd. Notes
2.800%   05/15/30     1,375   1,212,450
Aon Corp./Aon Global Holdings PLC,
Gtd. Notes
5.350%   02/28/33     505   507,540
Aon North America, Inc.,
Gtd. Notes
5.450%   03/01/34     2,855   2,886,183
Ascot Group Ltd. (Bermuda),
Sr. Unsec’d. Notes, 144A
4.250%   12/15/30     385   316,181
Athene Global Funding,
Sec’d. Notes, 144A
5.684%   02/23/26     2,670   2,685,498
Sec’d. Notes, 144A, MTN
2.646%   10/04/31     2,435   1,984,771
Athene Holding Ltd.,
Sr. Unsec’d. Notes
5.875%   01/15/34     1,185   1,187,467
Berkshire Hathaway Finance Corp.,
Gtd. Notes
4.250%   01/15/49     553   494,459
Chubb INA Holdings, Inc.,
Gtd. Notes
3.350%   05/03/26     133   128,626
Corebridge Financial, Inc.,
Sr. Unsec’d. Notes
3.500%   04/04/25     2,275   2,227,100
3.850%   04/05/29     965   902,731
5.750%   01/15/34     1,605   1,637,731
 
A26
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Insurance (cont’d.)
Sr. Unsec’d. Notes, 144A
6.050%   09/15/33     355   $365,815
Equitable Financial Life Global Funding,
Sec’d. Notes, 144A
1.800%   03/08/28     3,315   2,921,362
Equitable Holdings, Inc.,
Sr. Unsec’d. Notes
4.350%   04/20/28     335   324,644
Fairfax Financial Holdings Ltd. (Canada),
Sr. Unsec’d. Notes
3.375%   03/03/31     830   724,675
Sr. Unsec’d. Notes, 144A
6.000%   12/07/33     2,760   2,797,972
GA Global Funding Trust,
Sr. Sec’d. Notes, 144A
5.500%   01/08/29(a)     2,030   2,037,529
Guardian Life Global Funding,
Sec’d. Notes, 144A
1.100%   06/23/25     282   268,330
Liberty Mutual Group, Inc.,
Gtd. Notes, 144A
4.569%   02/01/29     2   1,950
Lincoln National Corp.,
Sr. Unsec’d. Notes
6.300%   10/09/37     447   460,021
Markel Group, Inc.,
Sr. Unsec’d. Notes
5.000%   03/30/43     154   140,235
Marsh & McLennan Cos., Inc.,
Sr. Unsec’d. Notes
2.250%   11/15/30     756   644,163
MetLife, Inc.,
Jr. Sub. Notes
6.400%   12/15/66     459   471,226
Sr. Unsec’d. Notes
5.375%   07/15/33     1,385   1,414,388
Metropolitan Life Global Funding I,
Sec’d. Notes, 144A, MTN
2.400%   01/11/32(a)     2,370   1,954,367
Principal Financial Group, Inc.,
Gtd. Notes
4.625%   09/15/42     48   43,670
5.375%   03/15/33     1,070   1,079,941
Principal Life Global Funding II,
Sec’d. Notes, 144A
1.250%   06/23/25     253   240,786
Sr. Sec’d. Notes, 144A
5.100%   01/25/29(a)     1,180   1,176,434
Protective Life Global Funding,
Sec’d. Notes, 144A
5.467%   12/08/28     715   727,970
Sompo International Holdings Ltd. (Bermuda),
Sr. Unsec’d. Notes
7.000%   07/15/34     309   331,938
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Insurance (cont’d.)
Teachers Insurance & Annuity Association of America,
Sub. Notes, 144A
4.900%   09/15/44     653   $598,677
6.850%   12/16/39     50   56,832
Willis North America, Inc.,
Gtd. Notes
2.950%   09/15/29     1,900   1,703,284
4.650%   06/15/27     3,375   3,321,450
              39,978,396
Internet — 0.1%
Alphabet, Inc.,
Sr. Unsec’d. Notes
1.900%   08/15/40     450   302,335
Amazon.com, Inc.,
Sr. Unsec’d. Notes
1.200%   06/03/27     53   47,658
1.500%   06/03/30     221   184,552
2.500%   06/03/50     313   199,662
3.150%   08/22/27     263   250,705
3.300%   04/13/27     210   201,960
3.450%   04/13/29     460   439,052
3.600%   04/13/32(a)     890   828,587
3.875%   08/22/37     501   452,307
4.250%   08/22/57     145   126,185
4.950%   12/05/44     151   151,078
Prosus NV (China),
Sr. Unsec’d. Notes, 144A
3.832%   02/08/51     430   263,375
Sr. Unsec’d. Notes, 144A, MTN
3.061%   07/13/31     1,431   1,155,532
4.027%   08/03/50     1,071   686,109
              5,289,097
Iron/Steel — 0.0%
ArcelorMittal SA (Luxembourg),
Sr. Unsec’d. Notes
7.000%   10/15/39     224   242,609
Vale Overseas Ltd. (Brazil),
Gtd. Notes
6.875%   11/21/36     192   204,900
6.875%   11/10/39(a)     411   439,642
              887,151
Leisure Time — 0.1%
NCL Corp. Ltd.,
Sr. Sec’d. Notes, 144A
8.125%   01/15/29     360   380,077
Royal Caribbean Cruises Ltd.,
Sr. Unsec’d. Notes, 144A
6.250%   03/15/32     230   231,725
VOC Escrow Ltd.,
Sr. Sec’d. Notes, 144A
5.000%   02/15/28     655   629,619
 
A27
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Leisure Time (cont’d.)
YMCA of Greater New York,
Unsec’d. Notes
2.303%   08/01/26     1,540   $1,422,263
              2,663,684
Lodging — 0.3%
Gohl Capital Ltd. (Malaysia),
Gtd. Notes
4.250%   01/24/27     548   526,422
Hilton Domestic Operating Co., Inc.,
Gtd. Notes, 144A
3.625%   02/15/32     596   513,543
6.125%   04/01/32     200   200,755
Las Vegas Sands Corp.,
Sr. Unsec’d. Notes
2.900%   06/25/25     1,462   1,406,592
3.200%   08/08/24     1,866   1,844,643
3.500%   08/18/26     322   304,917
3.900%   08/08/29     130   118,362
Marriott International, Inc.,
Sr. Unsec’d. Notes, Series FF
4.625%   06/15/30     285   277,347
Sands China Ltd. (Macau),
Sr. Unsec’d. Notes
2.300%   03/08/27     880   795,128
2.850%   03/08/29     1,010   875,488
4.050%(cc)   01/08/26     780   749,775
5.125%   08/08/25     870   857,472
5.400%   08/08/28     1,540   1,510,725
Wynn Macau Ltd. (Macau),
Sr. Unsec’d. Notes, 144A
5.625%   08/26/28     1,202   1,138,144
              11,119,313
Machinery-Diversified — 0.1%
AGCO Corp.,
Gtd. Notes
5.450%   03/21/27     325   326,513
5.800%   03/21/34     210   212,633
Deere & Co.,
Sr. Unsec’d. Notes
3.100%   04/15/30     117   106,829
Flowserve Corp.,
Sr. Unsec’d. Notes
2.800%   01/15/32     650   539,289
Ingersoll Rand, Inc.,
Sr. Unsec’d. Notes
5.700%   08/14/33     460   472,000
Otis Worldwide Corp.,
Sr. Unsec’d. Notes
2.056%   04/05/25     189   182,740
2.565%   02/15/30     2,427   2,134,582
Westinghouse Air Brake Technologies Corp.,
Gtd. Notes
5.611%   03/11/34     295   298,792
              4,273,378
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Media — 1.2%
Altice Financing SA (Luxembourg),
Sr. Sec’d. Notes, 144A
5.750%   08/15/29     200   $159,500
CCO Holdings LLC/CCO Holdings Capital Corp.,
Sr. Unsec’d. Notes
4.500%   05/01/32     340   273,119
Sr. Unsec’d. Notes, 144A
4.250%   01/15/34(a)     1,383   1,043,779
4.500%   08/15/30     66   55,441
4.750%   03/01/30     385   330,247
4.750%   02/01/32     400   326,846
5.000%   02/01/28     265   246,767
5.125%   05/01/27     538   512,464
5.375%   06/01/29(a)     186   170,261
Charter Communications Operating LLC/Charter Communications Operating Capital,
Sr. Sec’d. Notes
2.250%   01/15/29     80   68,073
3.500%   03/01/42     95   63,304
3.700%   04/01/51     1,475   912,543
3.850%   04/01/61     1,134   672,492
3.900%   06/01/52     3,175   2,021,000
3.950%   06/30/62     235   141,945
4.400%   12/01/61     512   334,587
4.800%   03/01/50     1,641   1,214,078
4.908%   07/23/25     1,017   1,004,951
5.050%   03/30/29     2,370   2,285,328
5.125%   07/01/49     765   592,786
5.375%   04/01/38     460   400,302
5.375%   05/01/47     316   255,128
5.500%   04/01/63     480   376,354
5.750%   04/01/48     564   474,515
6.384%   10/23/35     899   889,203
6.484%   10/23/45     871   808,187
6.834%   10/23/55     171   164,507
Comcast Corp.,
Gtd. Notes
2.450%   08/15/52     375   219,833
2.800%   01/15/51     604   386,117
2.887%   11/01/51     1,325   860,784
2.937%   11/01/56     152   95,722
3.150%   03/01/26     27   26,152
3.250%   11/01/39     58   45,485
3.300%   04/01/27     604   577,968
3.400%   04/01/30     340   314,646
3.400%   07/15/46     54   40,249
3.450%   02/01/50     90   66,021
3.750%   04/01/40     1,716   1,425,766
3.969%   11/01/47     1,009   810,816
3.999%   11/01/49     274   221,503
4.000%   08/15/47     793   643,455
4.000%   03/01/48     87   70,666
4.150%   10/15/28     207   202,059
4.200%   08/15/34     93   86,604
4.250%   10/15/30     526   508,087
4.250%   01/15/33     292   276,526
 
A28
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Media (cont’d.)
4.800%   05/15/33(a)     1,285   $1,268,829
4.950%   10/15/58     90   84,257
5.350%   11/15/27     1,415   1,442,365
5.650%   06/15/35     79   82,425
Cox Communications, Inc.,
Gtd. Notes, 144A
5.450%   09/15/28     2,435   2,466,640
5.700%   06/15/33     2,000   2,023,178
Sr. Unsec’d. Notes, 144A
3.150%   08/15/24     624   617,295
CSC Holdings LLC,
Gtd. Notes, 144A
3.375%   02/15/31     200   135,708
4.500%   11/15/31(a)     2,015   1,425,980
5.500%   04/15/27(a)     545   487,578
Discovery Communications LLC,
Gtd. Notes
3.625%   05/15/30     765   684,152
4.000%   09/15/55     519   354,469
4.125%   05/15/29     174   163,241
5.200%   09/20/47     1,847   1,553,785
5.300%   05/15/49     2,378   2,001,141
DISH DBS Corp.,
Gtd. Notes
5.125%   06/01/29     501   209,932
5.875%   11/15/24     988   944,175
7.750%   07/01/26     105   70,181
Sr. Sec’d. Notes, 144A
5.250%   12/01/26     330   260,266
5.750%   12/01/28     50   34,380
Fox Corp.,
Sr. Unsec’d. Notes
5.476%   01/25/39     397   378,050
6.500%   10/13/33     380   402,160
Paramount Global,
Sr. Unsec’d. Notes
4.375%   03/15/43     1,668   1,132,901
5.850%   09/01/43     846   684,770
Time Warner Cable Enterprises LLC,
Sr. Sec’d. Notes
8.375%   07/15/33     682   761,134
Time Warner Cable LLC,
Sr. Sec’d. Notes
4.500%   09/15/42     392   290,619
5.875%   11/15/40     684   596,742
6.550%   05/01/37     1,469   1,390,423
6.750%   06/15/39     1,584   1,507,556
7.300%   07/01/38     1,490   1,497,220
Videotron Ltd. (Canada),
Gtd. Notes, 144A
5.125%   04/15/27     200   195,750
Virgin Media Secured Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
5.500%   05/15/29(a)     370   341,177
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Media (cont’d.)
Walt Disney Co. (The),
Gtd. Notes
6.650%   11/15/37     63   $72,492
              48,237,137
Mining — 0.5%
Anglo American Capital PLC (South Africa),
Gtd. Notes, 144A
3.625%   09/11/24     200   197,466
3.875%   03/16/29     1,080   1,008,666
4.000%   09/11/27     245   233,592
4.750%   04/10/27     670   656,084
Barrick North America Finance LLC (Canada),
Gtd. Notes
5.700%   05/30/41     374   383,868
5.750%   05/01/43     144   148,179
BHP Billiton Finance USA Ltd. (Australia),
Gtd. Notes
4.900%   02/28/33     1,230   1,217,707
5.000%   09/30/43     217   207,824
5.250%   09/08/33     1,220   1,231,526
Corp. Nacional del Cobre de Chile (Chile),
Sr. Unsec’d. Notes, 144A
5.950%   01/08/34     1,185   1,186,481
First Quantum Minerals Ltd. (Zambia),
Sec’d. Notes, 144A
9.375%   03/01/29     200   207,476
Freeport Indonesia PT (Indonesia),
Sr. Unsec’d. Notes, 144A, MTN
4.763%   04/14/27     225   219,488
Freeport-McMoRan, Inc.,
Gtd. Notes
4.550%   11/14/24     23   22,827
4.625%   08/01/30     164   157,699
5.250%   09/01/29(a)     4,000   4,016,940
5.400%   11/14/34     250   247,231
5.450%   03/15/43     898   858,631
Glencore Finance Canada Ltd. (Australia),
Gtd. Notes, 144A
5.550%   10/25/42     50   47,865
Glencore Funding LLC (Australia),
Gtd. Notes, 144A
2.850%   04/27/31     585   499,391
4.000%   03/27/27     443   428,155
5.371%   04/04/29     1,375   1,377,077
5.634%   04/04/34     1,920   1,925,416
6.375%   10/06/30     700   738,744
Newmont Corp./Newcrest Finance Pty Ltd.,
Gtd. Notes, 144A
5.350%   03/15/34     1,195   1,202,187
Rio Tinto Alcan, Inc. (Canada),
Sr. Unsec’d. Notes
6.125%   12/15/33     1,160   1,245,560
Southern Copper Corp. (Mexico),
Sr. Unsec’d. Notes
5.250%   11/08/42     937   886,962
 
A29
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Mining (cont’d.)
Yamana Gold, Inc. (Canada),
Gtd. Notes
4.625%   12/15/27     399   $380,991
              20,934,033
Miscellaneous Manufacturing — 0.0%
3M Co.,
Sr. Unsec’d. Notes
2.375%   08/26/29     42   36,845
3.050%   04/15/30     107   96,165
3.700%   04/15/50(a)     548   407,549
Eaton Corp.,
Gtd. Notes
4.150%   11/02/42     158   138,706
Textron, Inc.,
Sr. Unsec’d. Notes
3.900%   09/17/29     830   779,422
              1,458,687
Multi-National — 0.1%
Corp. Andina de Fomento (Supranational Bank),
Sr. Unsec’d. Notes
5.000%   01/24/29     1,180   1,176,684
Inter-American Development Bank (Supranational Bank),
Notes
6.800%   10/15/25     417   427,167
Sr. Unsec’d. Notes, GMTN
7.350%   10/06/30   INR 359,000   4,381,326
              5,985,177
Office/Business Equipment — 0.1%
CDW LLC/CDW Finance Corp.,
Gtd. Notes
2.670%   12/01/26     3,500   3,257,608
3.569%   12/01/31     820   723,861
              3,981,469
Oil & Gas — 1.4%
Aker BP ASA (Norway),
Gtd. Notes, 144A
3.100%   07/15/31     4,101   3,500,702
Sr. Unsec’d. Notes, 144A
3.750%   01/15/30     505   460,907
4.000%   01/15/31     600   543,197
Apache Corp.,
Sr. Unsec’d. Notes
4.250%   01/15/44     617   438,909
Ascent Resources Utica Holdings LLC/ARU Finance Corp.,
Gtd. Notes, 144A
7.000%   11/01/26     134   134,332
9.000%   11/01/27     28   35,305
BP Capital Markets America, Inc.,
Gtd. Notes
2.721%   01/12/32(a)     1,925   1,658,457
3.000%   02/24/50     882   601,606
3.633%   04/06/30     385   362,778
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
4.812%   02/13/33     1,325   $1,307,389
4.893%   09/11/33     820   814,694
BP Capital Markets PLC (United Kingdom),
Gtd. Notes
4.375%(ff)   06/22/25(oo)     369   361,620
Canadian Natural Resources Ltd. (Canada),
Sr. Unsec’d. Notes
2.950%   07/15/30     465   408,274
Cenovus Energy, Inc. (Canada),
Sr. Unsec’d. Notes
2.650%   01/15/32     4,080   3,372,756
3.750%   02/15/52     1,223   884,761
5.400%   06/15/47     111   103,996
6.750%   11/15/39     53   57,837
ConocoPhillips Co.,
Gtd. Notes
3.800%   03/15/52     186   145,276
4.025%   03/15/62     1,290   1,021,922
4.150%   11/15/34     102   94,193
4.300%   11/15/44     362   317,423
5.050%   09/15/33     1,015   1,024,097
5.550%   03/15/54     170   175,081
5.700%   09/15/63     865   905,827
Continental Resources, Inc.,
Gtd. Notes
3.800%   06/01/24     41   40,862
4.375%   01/15/28     1,276   1,233,732
4.900%   06/01/44(a)     133   110,590
Gtd. Notes, 144A
2.268%   11/15/26     504   464,289
5.750%   01/15/31     325   323,098
Coterra Energy, Inc.,
Sr. Unsec’d. Notes
3.900%   05/15/27     842   810,704
4.375%   03/15/29     594   572,022
Devon Energy Corp.,
Sr. Unsec’d. Notes
4.500%   01/15/30     231   222,729
4.750%   05/15/42     311   270,327
5.000%   06/15/45     1,207   1,069,836
5.250%   10/15/27     140   140,171
5.600%   07/15/41     506   488,058
5.875%   06/15/28     121   121,600
Diamondback Energy, Inc.,
Gtd. Notes
3.500%   12/01/29(a)     774   716,302
6.250%   03/15/33     990   1,055,654
Ecopetrol SA (Colombia),
Sr. Unsec’d. Notes
4.625%   11/02/31     474   391,500
5.375%   06/26/26     372   364,203
5.875%   05/28/45     1,182   876,731
8.625%   01/19/29     1,580   1,667,935
8.875%   01/13/33     372   390,782
 
A30
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Endeavor Energy Resources LP/EER Finance, Inc.,
Sr. Unsec’d. Notes, 144A
5.750%   01/30/28     550   $554,230
Energean Israel Finance Ltd. (Israel),
Sr. Sec’d. Notes, 144A
5.375%   03/30/28     548   501,249
EOG Resources, Inc.,
Sr. Unsec’d. Notes
3.900%   04/01/35     374   340,263
4.375%   04/15/30     145   141,960
4.950%   04/15/50     190   180,552
EQT Corp.,
Sr. Unsec’d. Notes
3.900%   10/01/27(a)     1,000   950,271
5.000%   01/15/29     177   173,563
6.125%   02/01/25     37   37,084
Sr. Unsec’d. Notes, 144A
3.125%   05/15/26     30   28,499
3.625%   05/15/31     350   308,656
Equinor ASA (Norway),
Gtd. Notes
3.625%   04/06/40     1,355   1,126,004
Exxon Mobil Corp.,
Sr. Unsec’d. Notes
3.452%   04/15/51     205   155,264
3.482%   03/19/30     590   556,031
4.114%   03/01/46     534   460,493
4.327%   03/19/50     73   64,631
Hess Corp.,
Sr. Unsec’d. Notes
7.125%   03/15/33     1,003   1,135,450
7.300%   08/15/31     1,120   1,268,004
Hilcorp Energy I LP/Hilcorp Finance Co.,
Sr. Unsec’d. Notes, 144A
5.750%   02/01/29     103   100,460
6.000%   04/15/30     425   415,824
6.000%   02/01/31     103   100,380
6.250%   04/15/32     625   616,740
KazMunayGas National Co. JSC (Kazakhstan),
Sr. Unsec’d. Notes, 144A
5.375%   04/24/30     260   255,206
6.375%   10/24/48     350   326,813
Marathon Petroleum Corp.,
Sr. Unsec’d. Notes
5.850%   12/15/45     177   175,847
Occidental Petroleum Corp.,
Sr. Unsec’d. Notes
4.400%   04/15/46     448   364,049
4.500%   07/15/44     78   61,592
6.450%   09/15/36     877   935,387
6.600%   03/15/46(a)     981   1,056,585
6.950%   07/01/24     307   307,526
7.500%   05/01/31     249   277,236
Ovintiv, Inc.,
Gtd. Notes
7.375%   11/01/31     475   520,859
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Pertamina Persero PT (Indonesia),
Sr. Unsec’d. Notes
1.400%   02/09/26     200   $185,328
Sr. Unsec’d. Notes, EMTN
3.100%   08/27/30     211   186,471
Petrobras Global Finance BV (Brazil),
Gtd. Notes
6.625%   01/16/34   GBP 424   516,004
Petroleos Mexicanos (Mexico),
Gtd. Notes
6.490%   01/23/27     1,062   999,767
6.500%   03/13/27     174   163,562
6.500%   01/23/29     335   299,825
6.700%   02/16/32     1,485   1,236,262
6.840%   01/23/30     523   458,932
6.875%   10/16/25     251   248,184
Gtd. Notes, EMTN
4.875%   02/21/28   EUR 498   472,795
Gtd. Notes, MTN
6.875%   08/04/26     242   234,801
Phillips 66 Co.,
Gtd. Notes
5.300%   06/30/33     1,990   2,001,508
Pioneer Natural Resources Co.,
Sr. Unsec’d. Notes
1.125%   01/15/26     194   180,638
Range Resources Corp.,
Gtd. Notes, 144A
4.750%   02/15/30(a)     300   279,768
Reliance Industries Ltd. (India),
Sr. Unsec’d. Notes, 144A
2.875%   01/12/32(a)     260   220,675
3.625%   01/12/52     890   643,896
Shell International Finance BV (Netherlands),
Gtd. Notes
2.750%   04/06/30     253   227,388
3.000%   11/26/51     2,425   1,648,933
4.375%   05/11/45     532   472,986
4.550%   08/12/43     492   454,249
6.375%   12/15/38     665   749,714
Southwestern Energy Co.,
Gtd. Notes
4.750%   02/01/32     350   322,224
5.375%   02/01/29     30   29,156
5.375%   03/15/30     160   154,142
              55,946,380
Oil & Gas Services — 0.0%
Cameron International Corp.,
Gtd. Notes
5.950%   06/01/41     820   809,838
Halliburton Co.,
Sr. Unsec’d. Notes
7.450%   09/15/39     475   575,967
 
A31
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas Services (cont’d.)
Schlumberger Holdings Corp.,
Sr. Unsec’d. Notes, 144A
3.900%   05/17/28     142   $136,915
              1,522,720
Packaging & Containers — 0.1%
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC,
Sr. Unsec’d. Notes, 144A
4.000%   09/01/29     320   256,950
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.,
Gtd. Notes, 144A
5.250%   08/15/27(a)     230   142,600
Ball Corp.,
Gtd. Notes
3.125%   09/15/31(a)     575   489,981
6.000%   06/15/29     325   328,014
Crown Americas LLC/Crown Americas Capital Corp. VI,
Gtd. Notes
4.750%   02/01/26     250   245,931
Sealed Air Corp.,
Gtd. Notes, 144A
5.125%   12/01/24     355   352,829
WRKCo, Inc.,
Gtd. Notes
3.750%   03/15/25     245   240,825
              2,057,130
Pharmaceuticals — 1.1%
AbbVie, Inc.,
Sr. Unsec’d. Notes
2.950%   11/21/26     652   620,737
3.200%   11/21/29     1,134   1,045,137
4.050%   11/21/39     3,575   3,183,389
4.250%   11/21/49     397   343,616
4.500%   05/14/35     777   747,265
4.700%   05/14/45     656   612,759
4.800%   03/15/29     470   471,004
4.875%   11/14/48     100   95,663
4.950%   03/15/31     880   887,933
5.050%   03/15/34     290   293,587
5.400%   03/15/54     305   313,921
Bausch Health Cos., Inc.,
Gtd. Notes, 144A
5.000%   02/15/29     159   66,780
5.250%   01/30/30     2,551   1,045,910
5.250%   02/15/31     348   142,680
Bayer Corp.,
Sr. Unsec’d. Notes, 144A
6.650%   02/15/28     595   611,749
Bayer US Finance II LLC (Germany),
Gtd. Notes, 144A
4.375%   12/15/28     2,090   1,965,903
Bayer US Finance LLC (Germany),
Gtd. Notes, 144A
6.375%   11/21/30     975   996,449
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pharmaceuticals (cont’d.)
Becton, Dickinson & Co.,
Sr. Unsec’d. Notes
3.363%   06/06/24(a)     10   $9,957
3.734%   12/15/24     103   101,664
4.685%   12/15/44     59   53,314
Bristol-Myers Squibb Co.,
Sr. Unsec’d. Notes
2.900%   07/26/24     35   34,704
3.400%   07/26/29     517   485,728
5.100%   02/22/31     260   262,432
5.200%   02/22/34     1,690   1,716,397
5.550%   02/22/54     945   972,722
5.650%   02/22/64     110   113,263
Cigna Group (The),
Gtd. Notes
4.375%   10/15/28     724   706,520
4.800%   08/15/38     792   744,665
4.900%   12/15/48     224   204,085
Sr. Unsec’d. Notes
3.200%   03/15/40     4,600   3,485,362
5.000%   05/15/29     2,525   2,527,261
CVS Health Corp.,
Sr. Unsec’d. Notes
1.875%   02/28/31     170   138,430
2.125%   09/15/31     663   541,448
2.700%   08/21/40     1,415   984,466
3.250%   08/15/29     1,743   1,599,019
3.625%   04/01/27     179   172,217
3.750%   04/01/30     448   417,445
3.875%   07/20/25     427   419,122
4.125%   04/01/40     186   156,592
4.300%   03/25/28     348   339,642
5.050%   03/25/48     517   468,790
5.125%   07/20/45     790   727,646
5.875%   06/01/53(a)     105   106,655
CVS Pass-Through Trust,
Pass-Through Certificates
6.036%   12/10/28(a)     184   185,187
6.943%   01/10/30     188   192,739
Eli Lilly & Co.,
Sr. Unsec’d. Notes
4.700%   02/09/34     660   656,943
5.000%   02/09/54     70   69,638
5.100%   02/09/64     540   538,495
Jazz Securities DAC,
Sr. Sec’d. Notes, 144A
4.375%   01/15/29(a)     570   529,080
Johnson & Johnson,
Sr. Unsec’d. Notes
3.625%   03/03/37     487   432,053
McKesson Corp.,
Sr. Unsec’d. Notes
5.100%   07/15/33     1,330   1,343,511
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Sec’d. Notes, 144A
4.125%   04/30/28     305   284,131
 
A32
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pharmaceuticals (cont’d.)
Pfizer, Inc.,
Sr. Unsec’d. Notes
1.700%   05/28/30     43   $36,130
2.625%   04/01/30     287   255,701
Teva Pharmaceutical Finance Co. LLC (Israel),
Gtd. Notes
6.150%   02/01/36(a)     130   126,421
Teva Pharmaceutical Finance Netherlands III BV (Israel),
Gtd. Notes
3.150%   10/01/26(a)     2,692   2,509,402
4.100%   10/01/46     2,113   1,432,994
Utah Acquisition Sub, Inc.,
Gtd. Notes
5.250%   06/15/46     1,313   1,089,814
Viatris, Inc.,
Gtd. Notes
3.850%   06/22/40     2,830   2,089,578
              42,705,845
Pipelines — 2.0%
Antero Midstream Partners LP/Antero Midstream Finance Corp.,
Gtd. Notes, 144A
7.875%   05/15/26     495   504,813
Cameron LNG LLC,
Sr. Sec’d. Notes, 144A
2.902%   07/15/31     214   184,118
3.302%   01/15/35     553   459,910
Cheniere Energy Partners LP,
Gtd. Notes
3.250%   01/31/32     1,060   902,641
4.000%   03/01/31     210   190,780
4.500%   10/01/29     825   785,361
Cheniere Energy, Inc.,
Sr. Unsec’d. Notes
4.625%   10/15/28     990   960,007
Sr. Unsec’d. Notes, 144A
5.650%   04/15/34     1,070   1,076,785
Columbia Pipelines Holding Co. LLC,
Sr. Unsec’d. Notes, 144A
5.681%   01/15/34(a)     455   452,073
6.042%   08/15/28     720   735,944
Columbia Pipelines Operating Co. LLC,
Sr. Unsec’d. Notes, 144A
5.927%   08/15/30     2,610   2,675,607
6.036%   11/15/33     2,380   2,467,047
6.544%   11/15/53     730   789,523
DCP Midstream Operating LP,
Gtd. Notes, 144A
6.450%   11/03/36     210   219,611
Eastern Gas Transmission & Storage, Inc.,
Sr. Unsec’d. Notes
4.600%   12/15/44     48   41,269
EIG Pearl Holdings Sarl (Saudi Arabia),
Sr. Sec’d. Notes, 144A
3.545%   08/31/36     1,600   1,366,500
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
Enbridge, Inc. (Canada),
Gtd. Notes
2.500%   08/01/33     465   $372,772
5.700%   03/08/33     3,090   3,151,782
Energy Transfer LP,
Jr. Sub. Notes, Series A, 3 Month SOFR + 4.290%
9.597%(c)   04/15/24(oo)     150   149,394
Jr. Sub. Notes, Series F
6.750%(ff)   05/15/25(a)(oo)     918   903,135
Jr. Sub. Notes, Series G
7.125%(ff)   05/15/30(oo)     1,535   1,503,940
Jr. Sub. Notes, Series H
6.500%(ff)   11/15/26(oo)     999   980,565
Sr. Unsec’d. Notes
2.900%   05/15/25     3,001   2,912,845
3.750%   05/15/30     201   185,426
4.950%   06/15/28     916   908,026
5.250%   04/15/29     215   215,433
5.300%   04/01/44     78   71,809
5.400%   10/01/47     3,551   3,278,725
5.550%   05/15/34     875   877,539
6.250%   04/15/49     1,325   1,360,568
6.400%   12/01/30     3,225   3,401,999
7.500%   07/01/38     192   220,739
Enterprise Products Operating LLC,
Gtd. Notes
2.800%   01/31/30     546   489,312
3.125%   07/31/29     872   803,995
3.700%   01/31/51     207   160,004
3.950%   01/31/60     361   280,836
4.150%   10/16/28     1,067   1,038,119
4.850%   01/31/34     770   758,555
4.850%   03/15/44     151   141,458
5.375%(ff)   02/15/78     230   215,171
5.950%   02/01/41     335   354,822
7.550%   04/15/38     151   180,873
Gtd. Notes, Series H
6.650%   10/15/34     190   211,666
EQM Midstream Partners LP,
Sr. Unsec’d. Notes, 144A
7.500%   06/01/27     50   51,261
7.500%   06/01/30(a)     50   53,452
Florida Gas Transmission Co. LLC,
Sr. Unsec’d. Notes, 144A
2.300%   10/01/31     895   723,884
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates),
Sr. Sec’d. Notes, 144A
2.940%   09/30/40     339   271,691
Greensaif Pipelines Bidco Sarl (Saudi Arabia),
Sr. Sec’d. Notes, 144A
6.129%   02/23/38     2,490   2,532,828
6.510%   02/23/42     1,250   1,299,609
Kinder Morgan, Inc.,
Gtd. Notes
3.250%   08/01/50     1,278   843,100
4.300%   03/01/28     257   250,914
 
A33
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
5.300%   12/01/34     143   $140,724
5.550%   06/01/45     28   26,720
Gtd. Notes, GMTN
7.750%   01/15/32     717   814,131
MPLX LP,
Sr. Unsec’d. Notes
2.650%   08/15/30     1,095   942,293
4.500%   04/15/38     1,189   1,056,115
4.700%   04/15/48     177   151,094
4.800%   02/15/29(a)     357   352,868
4.875%   12/01/24     376   373,834
4.875%   06/01/25     1,097   1,088,035
4.950%   09/01/32     990   962,571
5.200%   03/01/47     3,353   3,069,786
5.500%   02/15/49     163   155,392
ONEOK Partners LP,
Gtd. Notes
6.850%   10/15/37     708   770,691
ONEOK, Inc.,
Gtd. Notes
3.100%   03/15/30     1,503   1,345,376
4.450%   09/01/49     2,142   1,735,593
5.550%   11/01/26     160   161,552
5.800%   11/01/30     260   267,959
6.050%   09/01/33     340   354,943
6.100%   11/15/32     355   371,680
6.625%   09/01/53     710   782,787
Southern Natural Gas Co. LLC,
Sr. Unsec’d. Notes
8.000%   03/01/32     1,047   1,207,752
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,
Gtd. Notes, 144A
6.000%   12/31/30     654   621,023
Targa Resources Corp.,
Gtd. Notes
5.200%   07/01/27     2,095   2,091,357
6.150%   03/01/29     520   542,194
Targa Resources Partners LP/Targa Resources Partners Finance Corp.,
Gtd. Notes
4.000%   01/15/32     2,285   2,056,007
4.875%   02/01/31     704   675,361
6.500%   07/15/27     231   233,634
6.875%   01/15/29     567   582,936
Transcontinental Gas Pipe Line Co. LLC,
Sr. Unsec’d. Notes
3.250%   05/15/30     490   443,713
3.950%   05/15/50     540   426,227
4.000%   03/15/28     1,200   1,156,050
7.850%   02/01/26     1,301   1,349,497
Venture Global Calcasieu Pass LLC,
Sr. Sec’d. Notes, 144A
3.875%   08/15/29     65   58,517
3.875%   11/01/33     440   374,122
4.125%   08/15/31     40   35,622
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
Western Midstream Operating LP,
Sr. Unsec’d. Notes
3.100%   02/01/25     727   $711,157
4.050%   02/01/30     2,609   2,430,230
4.500%   03/01/28     176   169,904
5.250%   02/01/50     441   394,245
5.300%   03/01/48     130   113,297
5.450%   04/01/44     398   365,512
5.500%   08/15/48     91   80,494
Williams Cos., Inc. (The),
Sr. Unsec’d. Notes
2.600%   03/15/31     530   451,339
3.750%   06/15/27     11   10,585
4.850%   03/01/48     239   213,246
4.900%   01/15/45     390   348,662
5.100%   09/15/45     353   327,150
5.150%   03/15/34(a)     715   708,778
5.400%   03/04/44     417   395,857
5.650%   03/15/33     450   462,126
7.750%   06/15/31     643   716,909
8.750%   03/15/32     103   123,936
Sr. Unsec’d. Notes, Series A
7.500%   01/15/31     833   926,755
              80,696,574
Real Estate Investment Trusts (REITs) — 0.8%
American Tower Corp.,
Sr. Unsec’d. Notes
3.650%   03/15/27(a)     1,365   1,308,945
3.800%   08/15/29     905   844,319
Brixmor Operating Partnership LP,
Sr. Unsec’d. Notes
4.050%   07/01/30     5,683   5,279,939
COPT Defense Properties LP,
Gtd. Notes
2.900%   12/01/33(a)     955   749,295
Crown Castle, Inc.,
Sr. Unsec’d. Notes
3.100%   11/15/29     943   842,498
3.800%   02/15/28     1,012   958,654
4.800%   09/01/28     2,450   2,403,356
5.600%   06/01/29     1,445   1,463,772
Equinix, Inc.,
Sr. Unsec’d. Notes
3.200%   11/18/29     1,255   1,125,161
GLP Capital LP/GLP Financing II, Inc.,
Gtd. Notes
3.250%   01/15/32(a)     1,031   868,667
4.000%   01/15/31     745   665,163
5.250%   06/01/25     17   16,902
5.300%   01/15/29     230   226,395
5.375%   04/15/26     127   125,954
Kimco Realty OP LLC,
Gtd. Notes
2.700%   10/01/30(a)     2,013   1,738,715
 
A34
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Real Estate Investment Trusts (REITs) (cont’d.)
MPT Operating Partnership LP/MPT Finance Corp.,
Gtd. Notes
5.000%   10/15/27(a)     18   $15,194
Prologis Targeted US Logistics Fund LP,
Gtd. Notes, 144A
5.250%   04/01/29     270   269,335
Realty Income Corp.,
Sr. Unsec’d. Notes
4.900%   07/15/33     1,075   1,037,334
Sun Communities Operating LP,
Gtd. Notes
2.300%   11/01/28     1,850   1,616,795
2.700%   07/15/31     1,359   1,120,344
5.500%   01/15/29     2,075   2,071,537
VICI Properties LP,
Sr. Unsec’d. Notes
4.950%   02/15/30     710   686,987
VICI Properties LP/VICI Note Co., Inc.,
Gtd. Notes, 144A
3.500%   02/15/25(a)     1,500   1,467,762
4.500%   09/01/26     1,803   1,746,420
5.750%   02/01/27     351   350,726
WEA Finance LLC/Westfield UK & Europe Finance PLC (France),
Gtd. Notes, 144A
3.750%   09/17/24     780   770,240
Welltower OP LLC,
Gtd. Notes
3.100%   01/15/30     2,091   1,882,827
              31,653,236
Retail — 0.2%
1011778 BC ULC/New Red Finance, Inc. (Canada),
Sr. Sec’d. Notes, 144A
3.875%   01/15/28     366   344,040
AutoZone, Inc.,
Sr. Unsec’d. Notes
6.550%   11/01/33(a)     1,530   1,675,026
Costco Wholesale Corp.,
Sr. Unsec’d. Notes
1.375%   06/20/27     1,072   969,911
Falabella SA (Chile),
Sr. Unsec’d. Notes, 144A
3.375%   01/15/32(a)     1,475   1,163,406
Home Depot, Inc. (The),
Sr. Unsec’d. Notes
2.500%   04/15/27     244   228,716
2.700%   04/15/30     361   321,679
3.300%   04/15/40     414   329,556
3.350%   04/15/50     623   455,757
3.900%   12/06/28     73   70,923
3.900%   06/15/47     69   56,478
Lowe’s Cos., Inc.,
Sr. Unsec’d. Notes
4.500%   04/15/30     169   165,361
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Retail (cont’d.)
McDonald’s Corp.,
Sr. Unsec’d. Notes, MTN
1.450%   09/01/25     97   $92,090
3.500%   07/01/27     327   313,603
3.600%   07/01/30     337   314,400
3.625%   09/01/49     73   55,551
3.700%   01/30/26     259   253,537
4.200%   04/01/50     619   517,460
O’Reilly Automotive, Inc.,
Sr. Unsec’d. Notes
4.700%   06/15/32(a)     1,850   1,808,417
Walmart, Inc.,
Sr. Unsec’d. Notes
1.500%   09/22/28     398   351,709
              9,487,620
Semiconductors — 0.4%
Broadcom, Inc.,
Sr. Unsec’d. Notes, 144A
3.137%   11/15/35     1,100   889,184
Intel Corp.,
Sr. Unsec’d. Notes
1.600%   08/12/28     513   450,075
3.200%   08/12/61     176   114,996
3.734%   12/08/47     104   80,702
4.750%   03/25/50     646   583,555
5.050%   08/05/62     550   517,500
5.125%   02/10/30     300   304,645
5.150%   02/21/34(a)     975   977,736
5.600%   02/21/54     180   183,473
5.625%   02/10/43     330   341,350
5.700%   02/10/53     195   201,821
5.900%   02/10/63     235   248,939
Micron Technology, Inc.,
Sr. Unsec’d. Notes
5.300%   01/15/31     310   311,985
5.875%   02/09/33     180   186,080
NVIDIA Corp.,
Sr. Unsec’d. Notes
3.500%   04/01/40     685   580,863
3.500%   04/01/50     286   227,722
3.700%   04/01/60     366   291,693
NXP BV/NXP Funding LLC/NXP USA, Inc. (China),
Gtd. Notes
2.500%   05/11/31     468   392,053
2.700%   05/01/25     390   378,019
4.300%   06/18/29     990   952,291
4.400%   06/01/27(a)     3,335   3,268,867
Qorvo, Inc.,
Gtd. Notes
1.750%   12/15/24     3,290   3,191,106
Texas Instruments, Inc.,
Sr. Unsec’d. Notes
1.750%   05/04/30     250   211,162
              14,885,817
 
A35
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Software — 0.3%
Constellation Software, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
5.158%   02/16/29     100   $99,926
5.461%   02/16/34     745   750,032
Microsoft Corp.,
Sr. Unsec’d. Notes
2.525%   06/01/50     8   5,268
2.921%   03/17/52     140   98,994
3.450%   08/08/36     31   27,765
Oracle Corp.,
Sr. Unsec’d. Notes
1.650%   03/25/26     890   830,923
2.875%   03/25/31     671   583,579
2.950%   04/01/30     710   632,017
3.600%   04/01/40     859   677,363
4.100%   03/25/61     2,864   2,144,245
4.300%   07/08/34     2,041   1,882,754
4.650%   05/06/30     310   303,866
4.900%   02/06/33     1,100   1,076,753
6.150%   11/09/29     1,605   1,692,250
              10,805,735
Telecommunications — 1.0%
Altice France SA (France),
Sr. Sec’d. Notes, 144A
8.125%   02/01/27     530   413,400
AT&T, Inc.,
Sr. Unsec’d. Notes
2.250%   02/01/32     100   81,294
2.300%   06/01/27     766   706,035
2.550%   12/01/33     251   201,232
3.500%   06/01/41     4,242   3,308,684
3.500%   09/15/53     3,708   2,619,607
3.550%   09/15/55     397   277,386
3.650%   09/15/59     894   622,772
3.800%   12/01/57     692   500,756
4.350%   06/15/45     214   182,489
4.500%   05/15/35     115   107,249
5.350%   09/01/40     230   225,080
5.539%   02/20/26     3,055   3,054,890
5.550%   08/15/41     221   222,702
Cisco Systems, Inc.,
Sr. Unsec’d. Notes
4.950%   02/26/31     1,065   1,074,139
5.350%   02/26/64     710   727,498
Motorola Solutions, Inc.,
Sr. Unsec’d. Notes
5.400%   04/15/34     3,160   3,153,965
Rogers Communications, Inc. (Canada),
Gtd. Notes
5.000%   02/15/29     405   402,146
5.300%   02/15/34     420   415,518
Sprint LLC,
Gtd. Notes
7.625%   02/15/25     275   278,421
7.625%   03/01/26     105   108,430
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Telecommunications (cont’d.)
Telefonica Emisiones SA (Spain),
Gtd. Notes
4.895%   03/06/48     275   $241,616
5.213%   03/08/47     170   156,416
T-Mobile USA, Inc.,
Gtd. Notes
2.250%   02/15/26     200   189,226
2.550%   02/15/31     293   249,503
2.625%   02/15/29     1,246   1,116,035
2.875%   02/15/31(a)     453   393,937
3.000%   02/15/41     35   25,777
3.375%   04/15/29     430   397,971
3.500%   04/15/25     350   343,138
3.500%   04/15/31     420   379,426
3.750%   04/15/27     121   116,516
3.875%   04/15/30     4,865   4,560,364
5.050%   07/15/33     445   440,074
5.150%   04/15/34     300   298,957
5.750%   01/15/34(a)     1,055   1,099,291
Verizon Communications, Inc.,
Sr. Unsec’d. Notes
1.750%   01/20/31     564   457,870
2.100%   03/22/28     305   274,698
2.355%   03/15/32     4,777   3,925,384
2.550%   03/21/31     570   486,978
3.150%   03/22/30     398   360,133
3.400%   03/22/41     200   156,194
3.850%   11/01/42     269   221,033
3.875%   02/08/29     176   168,485
4.125%   03/16/27     213   208,363
4.329%   09/21/28     459   448,924
4.400%   11/01/34     165   155,602
4.500%   08/10/33(a)     934   893,464
5.250%   03/16/37     951   961,236
5.500%   03/16/47     97   99,518
Vmed O2 UK Financing I PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
4.750%   07/15/31(a)     630   541,806
              38,051,628
Textiles — 0.0%
Prime Bloom Holdings Ltd. (China),
Gtd. Notes
6.950%   07/05/22(d)     200   1,766
Transportation — 0.0%
GN Bondco LLC,
Sr. Sec’d. Notes, 144A
9.500%   10/15/31     425   424,473
Indian Railway Finance Corp. Ltd. (India),
Sr. Unsec’d. Notes, 144A, MTN
3.570%   01/21/32     265   234,313
Lima Metro Line 2 Finance Ltd. (Peru),
Sr. Sec’d. Notes
5.875%   07/05/34     262   260,007
 
A36
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Transportation (cont’d.)
Union Pacific Corp.,
Sr. Unsec’d. Notes
2.150%   02/05/27     124   $115,356
2.891%   04/06/36     121   98,554
3.750%   02/05/70(a)     827   606,538
              1,739,241
Trucking & Leasing — 0.3%
Penske Truck Leasing Co. LP/PTL Finance Corp.,
Sr. Unsec’d. Notes, 144A
4.400%   07/01/27     4,965   4,835,938
5.350%   03/30/29     3,935   3,938,265
5.750%   05/24/26     725   730,276
6.050%   08/01/28     550   566,306
              10,070,785
 
Total Corporate Bonds

(cost $1,322,497,272)
  1,251,701,673
Floating Rate and Other Loans — 0.6%
Airlines — 0.0%
Delta Air Lines, Inc.,
Initial Term Loan, 3 Month SOFR + 3.750%
9.068%(c)   10/20/27     450   463,500
Auto Parts & Equipment — 0.0%
Clarios Global LP (Canada),
2024 Refinancing Term Loan Facility, 1 Month SOFR + 3.000%
8.330%(c)   05/06/30     229   229,654
Beverages — 0.0%
Triton Water Holdings, Inc.,
First Lien Initial Term Loan, 3 Month SOFR + 3.512%
8.814%(c)   03/31/28     311   307,542
Building Materials — 0.0%
Quikrete Holdings, Inc.,
Term B-1, 1 Month SOFR + 2.864%
8.195%(c)   03/19/29     367   366,832
Commercial Services — 0.1%
API Group DE, Inc.,
(2026) Term Loan, 1 Month SOFR + 2.364%
7.692%(c)   10/01/26     212   211,725
Garda World Security Corp. (Canada),
Fourth Additional Term Loan, 3 Month SOFR + 4.250%
9.583%(c)   02/01/29     237   237,025
GTCR W Merger Sub LLC,
Initial USD Term Loan, 3 Month SOFR + 3.000%
8.309%(c)   01/31/31     1,170   1,172,011
              1,620,761
Computers — 0.0%
Peraton Corp.,
First Lien Term B Loan, 1 Month SOFR + 3.850%
9.180%(c)   02/01/28     1,001   999,264
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Floating Rate and Other Loans (continued)
Diversified Financial Services — 0.1%
Citadel Securities LP,
(2024) Term B Loan, 1 Month SOFR + 2.250%
7.577%(c)   07/29/30     60   $59,529
Deerfield Dakota Holding LLC,
First Lien Initial Dollar Term Loan, 3 Month SOFR + 3.750%
9.059%(c)   04/09/27     501   497,904
Focus Financial Partners LLC,
Term B-7 Loan, 1 Month SOFR + 2.750%
8.080%(c)   06/30/28     355   353,380
Setanta Aircraft Leasing DAC (Ireland),
Term Loan, 1 Month SOFR + 2.262%
7.564%(c)   11/05/28     730   731,108
VFH Parent LLC,
Initial Term Loan, 1 Month SOFR + 3.100%
8.430%(c)   01/13/29     748   746,262
              2,388,183
Engineering & Construction — 0.1%
Brown Group Holding LLC,
Initial Term Loan, 1 Month SOFR + 2.850%
8.180%(c)   06/07/28     1,460   1,458,083
KKR Apple Bidco LLC,
Initial Term Loan, 1 Month SOFR + 2.864%
8.195%(c)   09/22/28     385   384,474
              1,842,557
Entertainment — 0.1%
Caesars Entertainment, Inc.,
Incremental Term B-1 Loan, 3 Month SOFR + 2.750%
8.040%(c)   02/06/31     940   939,530
Term B Loan, 3 Month SOFR + 3.350%
8.663%(c)   02/06/30     59   59,493
Flutter Financing BV (Ireland),
Term B Loan, 3 Month SOFR + 2.250%
7.559%(c)   11/25/30     828   827,186
PCI Gaming Authority,
Term B Facility Loan, 1 Month SOFR + 2.614%
7.945%(c)   05/29/26     928   928,736
UFC Holdings LLC,
Term B-3 Loan, 3 Month SOFR + 3.012%
8.336%(c)   04/29/26     272   272,433
              3,027,378
Healthcare-Services — 0.0%
Phoenix Guarantor, Inc.,
Tranche B-4 Term Loan, 1 Month SOFR + 3.250%
8.577%(c)   02/21/31     1,139   1,122,799
Holding Companies-Diversified — 0.0%
First Eagle Holdings, Inc.,
Tranche B-2 Term Loan, 3 Month SOFR + 3.000%
8.334%(c)   02/22/29     298   294,933
Insurance — 0.1%
AmWINS Group, Inc.,
February 2023 Incremental Term Loan, 1 Month SOFR + 2.864%
8.195%(c)   02/19/28     109   108,710
 
A37
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Floating Rate and Other Loans (continued)
Insurance (cont’d.)
Term Loan, 1 Month SOFR + 2.364%
7.695%(c)   02/19/28     339   $339,041
Asurion LLC,
New B-08 Term Loan, 1 Month SOFR + 3.364%
8.692%(c)   12/23/26     515   503,479
New B-09 Term Loan, 1 Month SOFR + 3.364%
8.692%(c)   07/31/27     461   442,229
New B-11 Term Loan, 1 Month SOFR + 4.350%
9.677%(c)   08/21/28     780   751,311
              2,144,770
Internet — 0.0%
NortonLifeLock, Inc.,
Tranche B Term Loan, 1 Month SOFR + 2.100%
7.427%(c)   09/12/29     670   668,448
Leisure Time — 0.0%
Alterra Mountain Co.,
2028 Term B Loan, 1 Month SOFR + 3.614%
8.945%(c)   08/17/28     510   511,074
Lodging — 0.0%
Four Seasons Hotels Ltd. (Canada),
2024 Repricing Term Loan, 1 Month SOFR + 2.100%
7.430%(c)   11/30/29     359   359,259
Machinery-Diversified — 0.0%
Ali Group North America Corp.,
Initial Tranche B Term Loan, 1 Month SOFR + 2.114%
7.445%(c)   07/30/29     333   332,565
Media — 0.0%
Charter Communications Operating LLC,
Term B-4 Loan, 3 Month SOFR + 2.000%
7.329%(c)   12/07/30     416   411,391
Nexstar Broadcasting, Inc.,
Term B-4 Loan, 1 Month SOFR + 2.614%
7.945%(c)   09/18/26     10   9,882
              421,273
Pharmaceuticals — 0.0%
Gainwell Acquisition Corp.,
Term B Loan, 3 Month SOFR + 4.100%
9.409%(c)   10/01/27     966   921,928
Retail — 0.0%
Harbor Freight Tools USA, Inc.,
2021 Refinancing Loan, 1 Month SOFR + 2.864%
8.195%(c)   10/19/27     396   395,481
Software — 0.1%
athenahealth, Inc.,
Initial Term Loan, 1 Month SOFR + 3.250%
8.580%(c)   02/15/29     623   616,135
Cloudera, Inc.,
Term Loan, 1 Month SOFR + 3.850%
9.180%(c)   10/08/28     271   269,537
Cotiviti, Inc.,
Term Loan, 1 Month SOFR + 3.500%
8.577%(c)   03/31/31     1,340   1,340,559
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Floating Rate and Other Loans (continued)
Software (cont’d.)
Dcert Buyer, Inc.,
First Lien Initial Term Loan, 1 Month SOFR + 4.000%
9.330%(c)   10/16/26     1,007   $1,001,679
Interface Security Systems, LLC,
Term Loan, 1 Month SOFR + 7.000%
12.427%(c)   08/07/24^     1,087   815,113
              4,043,023
Transportation — 0.0%
Genesee & Wyoming, Inc.,
Initial Term Loan, 3 Month SOFR + 2.100%
7.402%(c)   12/30/26     682   681,660
 
Total Floating Rate and Other Loans

(cost $23,434,022)
  23,142,884
Municipal Bonds — 0.6%
Alabama — 0.0%
Alabama Economic Settlement Authority,
Taxable, Revenue Bonds, Series B
4.263%   09/15/32     135   129,780
Arizona — 0.0%
Salt River Project Agricultural Improvement & Power District,
Revenue Bonds, BABs
4.839%   01/01/41     515   500,995
California — 0.1%
Bay Area Toll Authority,
Revenue Bonds, BABs, Series F2
6.263%   04/01/49     1,015   1,141,771
Revenue Bonds, BABs, Series S1
7.043%   04/01/50     950   1,140,099
Los Angeles Department of Water & Power, Power System Revenue,
Revenue Bonds, BABs
5.716%   07/01/39     310   324,917
Los Angeles Department of Water & Power, Water System Revenue,
Taxable, Revenue Bonds, BABs, Series C
6.008%   07/01/39     1,015   1,069,331
Los Angeles Unified School District,
General Obligation Unlimited, Taxable, BABs
5.750%   07/01/34     405   419,434
State of California,
General Obligation Unlimited, BABs
7.300%   10/01/39     970   1,135,785
University of California,
Taxable, Revenue Bonds, Series AQ
4.767%   05/15/2115     119   107,849
              5,339,186
Illinois — 0.0%
State of Illinois,
General Obligation Unlimited, Taxable
5.100%   06/01/33     1,235   1,224,617
Maryland — 0.0%
Maryland State Transportation Authority,
Revenue Bonds, BABs
5.888%   07/01/43     455   468,667
 
A38
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Municipal Bonds (continued)
Massachusetts — 0.1%
Commonwealth of Massachusetts,
Taxable, Revenue Bonds, Series B
4.110%   07/15/31     1,919   $1,858,459
Missouri — 0.0%
Curators of the University of Missouri (The),
Revenue Bonds, BABs
5.792%   11/01/41     85   90,682
New Jersey — 0.1%
New Jersey Turnpike Authority,
Taxable, Revenue Bonds, BABs, Series A
7.102%   01/01/41     366   427,275
Taxable, Revenue Bonds, BABs, Series F
7.414%   01/01/40     438   526,681
Rutgers The State University of New Jersey,
Taxable, Revenue Bonds, BABs, Series H
5.665%   05/01/40     400   421,744
              1,375,700
New York — 0.1%
New York City Municipal Water Finance Authority,
Taxable, Revenue Bonds, BABs
5.882%   06/15/44     530   559,908
New York City Transitional Finance Authority Future Tax Secured Revenue,
Taxable, Revenue Bonds, BABs
5.767%   08/01/36     255   263,410
New York State Dormitory Authority,
Taxable, Revenue Bonds, BABs, Series H
5.389%   03/15/40     100   99,992
New York Transportation Development Corp.,
Taxable, Revenue Bonds
4.248%   09/01/35     2,705   2,614,194
Port Authority of New York & New Jersey,
Consolidated, Taxable, Revenue Bonds, Series 165
5.647%   11/01/40     185   199,419
Consolidated, Taxable, Revenue Bonds, Series 174
4.458%   10/01/62     400   359,540
Consolidated, Taxable, Revenue Bonds, Series 181
4.960%   08/01/46     515   505,528
              4,601,991
Ohio — 0.0%
Ohio State University (The),
Taxable, Revenue Bonds, Series A
4.800%   06/01/2111     865   792,259
Pennsylvania — 0.0%
Pennsylvania Turnpike Commission,
Revenue Bonds, BABs
6.105%   12/01/39     103   113,280
Revenue Bonds, BABs, Series B
5.511%   12/01/45     270   278,716
              391,996
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Municipal Bonds (continued)
Texas — 0.1%
City of San Antonio Electric & Gas Systems Revenue,
Revenue Bonds, BABs
5.808%   02/01/41     305   $321,329
Taxable, Revenue Bonds
4.427%   02/01/42     265   250,566
Dallas Fort Worth International Airport,
Taxable, Revenue Bonds, Series A
4.507%   11/01/51     685   625,894
State of Texas,
General Obligation Unlimited, Taxable, BABs
5.517%   04/01/39     400   413,658
Texas Natural Gas Securitization Finance Corp. Revenue,
Taxable, Revenue Bonds, Series 2023-01, Class A1
5.102%   04/01/35     2,445   2,467,352
              4,078,799
Virginia — 0.1%
University of Virginia,
Taxable, Revenue Bonds, Series A
3.227%   09/01/2119     2,915   1,822,183
 
Total Municipal Bonds

(cost $25,680,610)
  22,675,314
Residential Mortgage-Backed Securities — 5.8%
Ajax Mortgage Loan Trust,
Series 2021-E, Class M1, 144A
2.940%(cc)   12/25/60     146   100,419
Angel Oak Mortgage Trust,
Series 2020-02, Class A1A, 144A
2.531%(cc)   01/26/65     3,247   2,997,202
Series 2020-06, Class A1, 144A
1.261%(cc)   05/25/65     2,424   2,155,927
Series 2022-01, Class A1, 144A
2.881%   12/25/66     1,988   1,778,897
Bear Stearns ALT-A Trust,
Series 2004-11, Class 1M1, 1 Month SOFR + 1.014% (Cap 11.500%, Floor 0.900%)
6.344%(c)   11/25/34     1,553   1,516,825
BRAVO Residential Funding Trust,
Series 2022-NQM02, Class A1, 144A
4.272%(cc)   11/25/61     933   921,712
Series 2023-RPL01, Class A1, 144A
5.000%(cc)   05/25/63     3,232   3,177,280
Chase Home Lending Mortgage Trust,
Series 2023-RPL01, Class A1, 144A
3.500%(cc)   06/25/62     1,502   1,347,917
CIM Trust,
Series 2022-R03, Class A1, 144A
4.500%(cc)   03/25/62     3,962   3,816,842
Citigroup Mortgage Loan Trust,
Series 2011-12, Class 3A2, 144A
4.428%(cc)   09/25/47     132   115,356
Series 2022-A, Class A1, 144A
6.170%   09/25/62     619   618,567
 
A39
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
COLT Mortgage Loan Trust,
Series 2021-02, Class A1, 144A
0.924%(cc)   08/25/66     3,923   $3,157,578
Series 2021-03, Class A1, 144A
0.956%(cc)   09/27/66     5,485   4,399,876
Series 2021-04, Class A1, 144A
1.397%(cc)   10/25/66     3,898   3,172,951
Series 2021-05, Class A1, 144A
1.726%(cc)   11/26/66     3,787   3,235,832
Series 2022-04, Class A1, 144A
4.301%(cc)   03/25/67     661   643,480
Series 2022-05, Class A1, 144A
4.550%(cc)   04/25/67     3,718   3,715,294
Connecticut Avenue Securities Trust,
Series 2022-R08, Class 1M1, 144A, 30 Day Average SOFR + 2.550% (Cap N/A, Floor 2.550%)
7.870%(c)   07/25/42     498   511,356
Series 2023-R03, Class 2M1, 144A, 30 Day Average SOFR + 2.500% (Cap N/A, Floor 0.000%)
7.820%(c)   04/25/43     967   985,934
Series 2023-R04, Class 1M1, 144A, 30 Day Average SOFR + 2.300% (Cap N/A, Floor 0.000%)
7.621%(c)   05/25/43     696   710,301
Series 2023-R05, Class 1M1, 144A, 30 Day Average SOFR + 1.900% (Cap N/A, Floor 1.900%)
7.221%(c)   06/25/43     1,961   1,984,198
Series 2023-R08, Class 1M1, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 0.000%)
6.820%(c)   10/25/43     1,176   1,180,992
Series 2024-R02, Class 1M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 1.800%)
7.120%(c)   02/25/44     761   763,616
Credit Suisse Mortgage Trust,
Series 2018-J01, Class A2, 144A
3.500%(cc)   02/25/48     2,825   2,494,723
Series 2020-RPL05, Class A1, 144A
4.681%(cc)   08/25/60     151   149,374
Series 2021-AFC1, Class A1, 144A
0.830%(cc)   03/25/56     2,132   1,718,529
Series 2021-NQM01, Class A1, 144A
0.809%(cc)   05/25/65     1,882   1,594,016
Series 2021-NQM03, Class A1, 144A
1.015%(cc)   04/25/66     804   653,279
Series 2022-07R, Class A1, 144A, 30 Day Average SOFR + 4.500% (Cap N/A, Floor 0.000%)
9.822%(c)   10/25/66     1,148   1,120,341
Series 2022-RPL04, Class A1, 144A
3.904%(cc)   04/25/62     941   875,254
Deephaven Residential Mortgage Trust,
Series 2021-02, Class A1, 144A
0.899%(cc)   04/25/66     5,547   4,770,834
Series 2021-03, Class A1, 144A
1.194%(cc)   08/25/66     4,974   4,217,853
Deutsche Mortgage Securities, Inc. Mortgage Loan Trust,
Series 2006-PR01, Class 5AS4, IO, 144A
2.574%(cc)   04/15/36     15,251   1,648,312
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Eagle Re Ltd.,
Series 2021-01, Class M1C, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 2.700%)
8.020%(c)   10/25/33     245   $245,260
Fannie Mae Interest Strips,
Series 409, Class C01, IO
3.000%   11/25/26     207   4,819
Series 409, Class C02, IO
3.000%   04/25/27     292   8,556
Series 409, Class C13, IO
3.500%   11/25/41     303   47,201
Series 409, Class C22, IO
4.500%   11/25/39     267   51,179
Series 426, Class C38, IO
2.000%   03/25/52     3,747   495,726
Series 427, Class C21, IO
2.000%   03/25/50     819   99,745
Series 429, Class C3, IO
2.500%   09/25/52     3,182   494,883
Series 437, Class C8, IO
2.500%   06/25/52     3,189   486,707
Fannie Mae REMIC,
Series 2004-038, Class FK, 30 Day Average SOFR + 0.464% (Cap 8.000%, Floor 0.350%)
5.785%(c)   05/25/34     77   76,711
Series 2010-027, Class AS, IO, 30 Day Average SOFR x (1) + 6.366% (Cap 6.480%, Floor 0.000%)
1.045%(c)   04/25/40     225   23,374
Series 2011-099, Class KS, IO, 30 Day Average SOFR x (1) + 6.586% (Cap 6.700%, Floor 0.000%)
1.265%(c)   10/25/26     122   2,109
Series 2011-142, Class PE
3.500%   01/25/42     1,822   1,645,552
Series 2011-98, Class ZL
3.500%   10/25/41     1,783   1,658,817
Series 2012-028, Class B
6.500%   06/25/39     10   10,558
Series 2012-046, Class BA
6.000%   05/25/42     192   197,921
Series 2012-051, Class B
7.000%   05/25/42     75   80,520
Series 2012-074, Class OA, PO
0.287%(s)   03/25/42     32   28,323
Series 2012-074, Class SA, IO, 30 Day Average SOFR x (1) + 6.536% (Cap 6.650%, Floor 0.000%)
1.215%(c)   03/25/42     206   12,613
Series 2012-075, Class AO, PO
0.287%(s)   03/25/42     47   42,349
Series 2012-075, Class NS, IO, 30 Day Average SOFR x (1) + 6.486% (Cap 6.600%, Floor 0.000%)
1.165%(c)   07/25/42     23   2,591
Series 2012-118, Class VZ
3.000%   11/25/42     380   338,658
Series 2012-133, Class CS, IO, 30 Day Average SOFR x (1) + 6.036% (Cap 6.150%, Floor 0.000%)
0.715%(c)   12/25/42     131   13,708
 
A40
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2012-134, Class MS, IO, 30 Day Average SOFR x (1) + 6.036% (Cap 6.150%, Floor 0.000%)
0.715%(c)   12/25/42     130   $15,432
Series 2013-009, Class BC
6.500%   07/25/42     257   269,679
Series 2013-009, Class CB
5.500%   04/25/42     697   706,460
Series 2013-026, Class HI, IO
3.000%   04/25/32     41   1,355
Series 2013-126, Class CS, IO, 30 Day Average SOFR x (1) + 6.036% (Cap 6.150%, Floor 0.000%)
0.715%(c)   09/25/41     584   37,403
Series 2014-59, Class ZA
3.000%   09/25/44     1,433   1,269,489
Series 2014-95, Class ZC
3.000%   01/25/45     1,780   1,555,447
Series 2015-055, Class IO, IO
0.000%(cc)   08/25/55     534   18,480
Series 2015-056, Class AS, IO, 30 Day Average SOFR x (1) + 6.036% (Cap 6.150%, Floor 0.000%)
0.715%(c)   08/25/45     179   21,808
Series 2015-065, Class CZ
3.500%   09/25/45     270   227,853
Series 2016-03, Class IN, IO
6.000%   02/25/46     1,831   294,131
Series 2016-03, Class MI, IO
5.500%   02/25/46     2,371   352,123
Series 2016-43, Class GZ
3.000%   07/25/46     1,687   1,436,527
Series 2017-22, Class BZ
3.500%   04/25/47     2,321   2,088,002
Series 2020-24, Class SP, IO, 30 Day Average SOFR x (1) + 5.936% (Cap 6.050%, Floor 0.000%)
0.615%(c)   04/25/50     507   60,138
Series 2020-35, Class AI, IO
3.000%   06/25/50     3,297   516,994
Series 2020-47, Class GZ
2.000%   07/25/50     773   459,901
Series 2020-56, Class AQ
2.000%   08/25/50     800   619,194
Series 2020-57, Class TA
2.000%   04/25/50     867   746,582
Series 2020-61, Class NI, IO
3.500%   09/25/50     625   104,549
Series 2020-62, Class AI, IO
2.500%   09/25/50     693   109,368
Series 2020-64, Class AI, IO
5.000%   09/25/50     2,320   404,721
Series 2020-74, Class HI, IO
5.500%   10/25/50     2,395   451,715
Series 2020-85, Class PI, IO
3.000%   12/25/50     3,329   526,915
Series 2020-96, Class IN, IO
3.000%   01/25/51     1,152   191,619
Series 2020-97, Class EI, IO
2.000%   01/25/51     3,504   446,366
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2021-03, Class NI, IO
2.500%   02/25/51     4,420   $645,316
Series 2021-03, Class TI, IO
2.500%   02/25/51     3,006   475,640
Series 2021-26, Class YI, IO
3.500%   05/25/50     2,766   490,706
Series 2021-28, Class LB
2.000%   04/25/51     369   297,407
Series 2021-43, Class IO, IO
2.500%   06/25/51     1,450   224,953
Series 2021-52, Class CI, IO
2.500%   12/25/47     827   111,467
Series 2021-65, Class JA
2.000%   01/25/46     286   248,900
Series 2021-77, Class WI, IO
3.000%   08/25/50     664   104,766
Series 2022-03, Class PI, IO
3.000%   01/25/52     3,112   432,130
Series 2022-22, Class IO, IO
2.500%   10/25/51     1,893   324,884
Series 2022-86, Class IO, IO
2.500%   05/25/50     742   102,928
Series 2023-02, Class CI, IO
2.000%   10/25/50     1,862   227,784
FHLMC Structured Agency Credit Risk REMIC Trust,
Series 2020-DNA04, Class B1, 144A, 30 Day Average SOFR + 6.114% (Cap N/A, Floor 0.000%)
11.435%(c)   08/25/50     281   317,897
Series 2020-DNA05, Class B1, 144A, 30 Day Average SOFR + 4.800% (Cap N/A, Floor 0.000%)
10.120%(c)   10/25/50     364   408,870
Series 2020-HQA04, Class B1, 144A, 30 Day Average SOFR + 5.364% (Cap N/A, Floor 0.000%)
10.685%(c)   09/25/50     145   160,113
Series 2020-HQA05, Class B1, 144A, 30 Day Average SOFR + 4.000% (Cap N/A, Floor 0.000%)
9.320%(c)   11/25/50     435   488,716
Series 2021-DNA01, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%)
7.120%(c)   01/25/51     1,297   1,306,701
Series 2021-DNA03, Class B1, 144A, 30 Day Average SOFR + 3.500% (Cap N/A, Floor 0.000%)
8.820%(c)   10/25/33     577   634,595
Series 2022-DNA03, Class B1, 144A, 30 Day Average SOFR + 5.650% (Cap N/A, Floor 0.000%)
10.970%(c)   04/25/42     1,010   1,094,359
Series 2022-DNA03, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 0.000%)
8.220%(c)   04/25/42     1,650   1,705,779
Series 2022-DNA06, Class M1A, 144A, 30 Day Average SOFR + 2.150% (Cap N/A, Floor 0.000%)
7.470%(c)   09/25/42     1,342   1,358,420
Series 2023-HQA03, Class A1, 144A, 30 Day Average SOFR + 1.850% (Cap N/A, Floor 0.000%)
7.170%(c)   11/25/43     511   516,473
 
A41
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Freddie Mac Reference REMIC,
Series R007, Class ZA
6.000%   05/15/36     345   $355,077
Freddie Mac REMIC,
Series 2957, Class ZA
5.000%   03/15/35     710   711,150
Series 3242, Class SC, IO, 30 Day Average SOFR x (1) + 6.176% (Cap 6.290%, Floor 0.000%)
0.857%(c)   11/15/36     147   12,921
Series 3368, Class AI, IO, 30 Day Average SOFR x (1) + 5.916% (Cap 6.030%, Floor 0.000%)
0.597%(c)   09/15/37     256   20,030
Series 3621, Class SB, IO, 30 Day Average SOFR x (1) + 6.116% (Cap 6.230%, Floor 0.000%)
0.797%(c)   01/15/40     71   6,566
Series 3639, Class EY
5.000%   02/15/30     204   203,663
Series 3947, Class SG, IO, 30 Day Average SOFR x (1) + 5.836% (Cap 5.950%, Floor 0.000%)
0.517%(c)   10/15/41     509   45,259
Series 3967, Class ZP
4.000%   09/15/41     1,151   1,101,629
Series 4054, Class SA, IO, 30 Day Average SOFR x (1) + 5.936% (Cap 6.050%, Floor 0.000%)
0.617%(c)   08/15/39     223   17,696
Series 4119, Class IN, IO
3.500%   10/15/32     227   19,949
Series 4146, Class DI, IO
3.000%   12/15/31     641   26,575
Series 4194, Class BI, IO
3.500%   04/15/43     294   47,965
Series 4199, Class BZ
3.500%   05/15/43     1,263   1,125,435
Series 4210, Class Z
3.000%   05/15/43     506   401,743
Series 4239, Class IO, IO
3.500%   06/15/27     328   8,771
Series 4357, Class MZ
3.000%   10/15/42     1,804   1,588,426
Series 4415, Class IO, IO
0.000%(cc)   04/15/41     374   20,780
Series 4430, Class NZ
3.000%   01/15/45     3,935   3,412,792
Series 4447, Class Z
3.000%   03/15/45     2,045   1,788,246
Series 4504, Class DZ
3.500%   08/15/45     2,883   2,666,777
Series 4518, Class CZ
3.500%   10/15/45     436   389,192
Series 4533, Class CI, IO
5.500%   04/15/40     1,242   223,609
Series 4640, Class CZ
3.500%   12/15/46     1,495   1,361,615
Series 4813, Class CJ
3.000%   08/15/48     205   176,593
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 4980, Class KI, IO
4.500%   06/25/50     1,779   $403,483
Series 4991, Class QV
2.000%   09/25/45     184   148,115
Series 5010, Class IK, IO
2.500%   09/25/50     681   100,996
Series 5018, Class MI, IO
2.000%   10/25/50     1,102   144,914
Series 5021, Class SB, IO, 30 Day Average SOFR x (1) + 3.550% (Cap 3.550%, Floor 0.000%)
0.000%(c)   10/25/50     1,808   53,427
Series 5040, Class IB, IO
2.500%   11/25/50     439   58,496
Series 5071, Class IH, IO
2.500%   02/25/51     647   83,808
Series 5083, Class AI, IO
2.500%   03/25/51     2,447   345,382
Series 5085, Class NI, IO
2.000%   03/25/51     2,820   339,355
Series 5092, Class AP
2.000%   04/25/41     307   261,741
Series 5093, Class IY, IO
4.500%   12/25/50     968   219,441
Series 5115, Class IO, IO
4.500%   10/25/49     491   111,126
Series 5118, Class NI, IO
2.000%   02/25/51     1,521   195,651
Series 5159, Class IP, IO
3.000%   11/25/51     1,458   208,756
Series 5161, Class IO, IO
2.000%   03/25/51     792   109,243
Series 5169, Class IO, IO
3.000%   09/25/51     2,798   445,156
Series 5170, Class DP
2.000%   07/25/50     2,578   2,173,288
Series 5201, Class PA
2.500%   03/25/52     1,924   1,685,879
Series 5202, Class IN, IO
3.000%   01/25/47     726   94,758
Series 5222, Class SA, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%)
0.000%(c)   05/25/52     501   7,584
Series 5224, Class HL
4.000%   04/25/52     200   179,484
Series 5230, Class PE
2.000%   12/25/51     100   77,980
Series 5269, Class AD
2.000%   01/25/55     7,581   5,824,994
Series 5293, Class IO, IO
2.000%   03/25/51     2,788   341,753
Series 5389, Class IC, IO
4.500%   11/25/51     497   111,420
Freddie Mac Strips,
Series 283, Class IO, IO
3.500%   10/15/27     125   4,046
 
A42
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 375, Class C1, IO
2.500%   01/25/51     3,592   $544,674
Series 386, Class C14, IO
2.500%   03/15/52     2,944   408,138
Series 389, Class C1, IO
1.500%   05/15/37     8,661   491,731
Series 389, Class C35, IO
2.000%   06/15/52     3,820   482,053
Series 406, Class PO, PO
1.216%(s)   10/25/53     2,818   2,253,847
GCAT Trust,
Series 2021-NQM03, Class A1, 144A
1.091%(cc)   05/25/66     3,216   2,666,098
Government National Mortgage Assoc.,
Series 2010-042, Class BS, IO, 1 Month SOFR x (1) + 6.366% (Cap 6.480%, Floor 0.000%)
1.037%(c)   04/20/40     53   5,730
Series 2010-085, Class HS, IO, 1 Month SOFR x (1) + 6.536% (Cap 6.650%, Floor 0.000%)
1.207%(c)   01/20/40     5   18
Series 2010-H26, Class LF, 1 Month SOFR + 0.464% (Cap 13.898%, Floor 0.350%)
5.794%(c)   08/20/58     68   67,704
Series 2012-034, Class SA, IO, 1 Month SOFR x (1) + 5.936% (Cap 6.050%, Floor 0.000%)
0.607%(c)   03/20/42     501   46,964
Series 2012-043, Class SN, IO, 1 Month SOFR x (1) + 6.486% (Cap 6.600%, Floor 0.000%)
1.159%(c)   04/16/42     247   32,518
Series 2012-098, Class SA, IO, 1 Month SOFR x (1) + 5.986% (Cap 6.100%, Floor 0.000%)
0.659%(c)   08/16/42     213   21,733
Series 2012-124, Class AS, IO, 1 Month SOFR x (1) + 6.086% (Cap 6.200%, Floor 0.000%)
0.759%(c)   10/16/42     336   34,474
Series 2013-069, Class AI, IO
3.500%   05/20/43     266   41,432
Series 2014-05, Class SP, IO, 1 Month SOFR x (1) + 6.036% (Cap 6.150%, Floor 0.000%)
0.709%(c)   06/16/43     176   7,222
Series 2014-12, Class ZB
3.000%   01/16/44     2,247   1,985,680
Series 2014-46, Class IO, IO
5.000%   03/16/44     2,462   332,458
Series 2016-37, Class IO, IO
5.000%   01/16/43     2,450   450,936
Series 2018-037, Class QA
2.750%   03/20/48     206   180,278
Series 2018-H06, Class PF, 1 Month SOFR + 0.414% (Cap 11.000%, Floor 0.300%)
5.744%(c)   02/20/68     129   127,795
Series 2018-H08, Class KF, 1 Month SOFR + 0.414% (Cap 11.000%, Floor 0.300%)
5.744%(c)   05/20/68     149   147,926
Series 2020-047, Class NI, IO
3.500%   04/20/50     369   66,625
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2020-123, Class IL, IO
2.500%   08/20/50     385   $49,089
Series 2020-127, Class IN, IO
2.500%   08/20/50     565   75,382
Series 2020-129, Class IE, IO
2.500%   09/20/50     504   67,265
Series 2020-160, Class IH, IO
2.500%   10/20/50     421   56,082
Series 2020-160, Class VI, IO
2.500%   10/20/50     503   72,001
Series 2020-175, Class GI, IO
2.000%   11/20/50     425   45,692
Series 2021-057, Class BI, IO
3.000%   03/20/51     1,921   304,978
Series 2021-077, Class LC
1.250%   07/20/50     233   182,877
Series 2021-096, Class VI, IO
2.500%   06/20/51     1,332   177,287
Series 2021-115, Class MI, IO
2.500%   05/20/51     1,052   109,500
Series 2021-138, Class IK, IO
3.000%   07/20/51     816   116,659
Series 2021-165, Class ST, IO, 1 Month SOFR x (1) + 3.246% (Cap 0.020%, Floor 0.000%)
0.000%(c)   01/20/50     306   73
Series 2021-176, Class IN, IO
2.500%   10/20/51     1,741   236,389
Series 2021-188, Class PA
2.000%   10/20/51     69   56,313
Series 2021-215, Class KA
2.500%   10/20/49     2,696   2,336,749
Series 2021-223, Class P
2.000%   06/20/51     494   427,408
Series 2021-H03, Class IO, IO
0.000%(cc)   04/20/70     3,842   11,733
Series 2022-024, Class GA
3.000%   02/20/52     1,537   1,381,604
Series 2022-046, Class S, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%)
0.000%(c)   03/20/52     1,082   18,835
Series 2022-051, Class SC, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%)
0.000%(c)   03/20/52     2,327   47,806
Series 2022-063, Class LM
3.500%   10/20/50     100   83,194
Series 2022-066, Class SB, IO, 30 Day Average SOFR x (1) + 3.850% (Cap 3.850%, Floor 0.000%)
0.000%(c)   04/20/52     766   15,164
Series 2022-068, Class SP, IO, 30 Day Average SOFR x (1) + 3.850% (Cap 3.850%, Floor 0.000%)
0.000%(c)   04/20/52     620   14,863
Series 2022-078, Class MS, IO, 30 Day Average SOFR x (1) + 3.600% (Cap 3.600%, Floor 0.000%)
0.000%(c)   04/20/52     2,044   38,982
 
A43
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2022-078, Class SB, IO, 30 Day Average SOFR x (1) + 3.750% (Cap 3.750%, Floor 0.000%)
0.000%(c)   04/20/52     2,870   $59,952
Series 2022-081, Class CI, IO
3.000%   09/20/50     772   111,285
Series 2022-085, Class SL, IO, 30 Day Average SOFR x (1) + 4.250% (Cap 4.250%, Floor 0.000%)
0.000%(c)   05/20/52     42,140   1,353,229
Series 2022-093, Class GS, IO, 30 Day Average SOFR x (1) + 3.650% (Cap 3.650%, Floor 0.000%)
0.000%(c)   05/20/52     476   8,507
Series 2022-099, Class JW
2.500%   01/20/52     200   159,958
Series 2022-126, Class CS, IO, 30 Day Average SOFR x (1) + 3.760% (Cap 3.760%, Floor 0.000%)
0.000%(c)   07/20/52     2,850   44,375
Series 2022-133, Class SA, IO, 30 Day Average SOFR x (1) + 3.950% (Cap 3.950%, Floor 0.000%)
0.000%(c)   07/20/52     2,217   38,860
Series 2022-139, Class AL
4.000%   07/20/51     900   804,913
Series 2022-148, Class DS, IO, 30 Day Average SOFR x (1) + 3.600% (Cap 3.600%, Floor 0.000%)
0.000%(c)   08/20/52     2,262   36,016
Series 2022-189, Class PT
2.500%   10/20/51     736   610,699
Series 2022-197, Class CS, IO, 30 Day Average SOFR x (1) + 5.500% (Cap 5.500%, Floor 0.000%)
0.181%(c)   11/20/52     20,470   708,028
GS Mortgage-Backed Securities Corp. Trust,
Series 2020-PJ04, Class A2, 144A
3.000%(cc)   01/25/51     257   216,069
GSMSC Resecuritization Trust,
Series 2015-03R, Class 2A2, 144A, 1 Month SOFR + 0.254% (Cap N/A, Floor 0.140%)
5.584%(c)   10/26/36     31   30,852
Home Re Ltd.,
Series 2019-01, Class M1, 144A, 30 Day Average SOFR + 1.764% (Cap N/A, Floor 0.000%)
7.085%(c)   05/25/29     114   114,232
Imperial Fund Mortgage Trust,
Series 2021-NQM01, Class A1, 144A
1.071%(cc)   06/25/56     1,435   1,226,155
Series 2021-NQM02, Class A1, 144A
1.073%(cc)   09/25/56     790   642,763
Series 2021-NQM03, Class A1, 144A
1.595%(cc)   11/25/56     5,016   4,224,827
Series 2021-NQM04, Class A1, 144A
2.091%(cc)   01/25/57     2,570   2,150,784
Series 2022-NQM02, Class A1, 144A
3.638%   03/25/67     4,494   4,163,099
JPMorgan Mortgage Trust,
Series 2020-07, Class A3, 144A
3.000%(cc)   01/25/51     197   166,226
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Legacy Mortgage Asset Trust,
Series 2019-PR01, Class A1, 144A
7.858%(cc)   09/25/59     1,758   $1,756,308
Series 2020-SL01, Class A, 144A
5.734%(cc)   01/25/60     37   36,546
MFA Trust,
Series 2021-INV01, Class A1, 144A
0.852%(cc)   01/25/56     351   327,407
Mill City Mortgage Loan Trust,
Series 2019-GS01, Class M2, 144A
3.250%(cc)   07/25/59     4,425   3,819,625
New Residential Mortgage Loan Trust,
Series 2016-03A, Class A1B, 144A
3.250%(cc)   09/25/56     125   114,335
Series 2017-01A, Class A1, 144A
4.000%(cc)   02/25/57     3,510   3,323,937
Series 2017-04A, Class A1, 144A
4.000%(cc)   05/25/57     1,788   1,686,866
Series 2018-RPL01, Class M2, 144A
3.500%(cc)   12/25/57     2,303   1,919,853
Series 2019-02A, Class A1, 144A
4.250%(cc)   12/25/57     122   117,056
Series 2019-03A, Class A1A, 144A
3.750%(cc)   11/25/58     1,792   1,676,524
Series 2019-06A, Class B1, 144A
4.000%(cc)   09/25/59     1,781   1,668,380
Series 2019-06A, Class B2, 144A
4.250%(cc)   09/25/59     1,781   1,666,615
Series 2020-01A, Class A1B, 144A
3.500%(cc)   10/25/59     587   541,464
Series 2020-NQM02, Class A1, 144A
1.650%(cc)   05/24/60     653   613,630
Nomura Asset Acceptance Corp. Alternative Loan Trust,
Series 2005-AR01, Class M1, 1 Month SOFR + 1.184% (Cap 11.000%, Floor 1.070%)
6.514%(c)   02/25/35     702   679,367
OBX Trust,
Series 2018-01, Class A2, 144A, 1 Month SOFR + 0.764% (Cap N/A, Floor 0.000%)
6.094%(c)   06/25/57     95   91,457
Series 2018-EXP01, Class 1A3, 144A
4.000%(cc)   04/25/48     154   141,801
Series 2021-NQM1, Class A1, 144A
1.072%(cc)   02/25/66     5,409   4,589,731
Series 2021-NQM2, Class A1, 144A
1.101%(cc)   05/25/61     5,663   4,501,898
Series 2021-NQM3, Class A1, 144A
1.054%(cc)   07/25/61     5,256   4,076,847
PMT Credit Risk Transfer Trust,
Series 2019-02R, Class A, 144A, 1 Month SOFR + 3.864% (Cap N/A, Floor 2.750%)
9.197%(c)   05/30/25     2,018   2,019,383
Series 2023-01R, Class A, 144A, 30 Day Average SOFR + 4.400% (Cap N/A, Floor 0.000%)
9.721%(c)   03/27/25     2,085   2,108,224
 
A44
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
PRPM LLC,
Series 2020-04, Class A1, 144A
5.610%(cc)   10/25/25     615   $613,131
SACO I Trust,
Series 2007-VA01, Class A, 144A
4.527%(cc)   06/25/21     6   4,920
Seasoned Credit Risk Transfer Trust,
Series 2017-03, Class M2, 144A
4.750%(cc)   07/25/56     4,485   4,243,851
Series 2021-01, Class M, 144A
4.250%   09/25/60     1,433   1,325,431
Sequoia Mortgage Trust,
Series 2017-CH01, Class A1, 144A
4.000%(cc)   08/25/47     20   18,787
Series 2018-CH01, Class A1, 144A
4.000%(cc)   03/25/48     69   63,807
Series 2018-CH03, Class A2, 144A
4.000%(cc)   08/25/48     49   47,672
SG Residential Mortgage Trust,
Series 2022-01, Class A1, 144A
3.166%(cc)   03/27/62     2,601   2,359,726
Shamrock Residential (Ireland),
Series 2023-01A, Class A, 144A, 1 Month EURIBOR + 1.000% (Cap N/A, Floor 0.000%)
4.848%(c)   06/24/71   EUR 317   343,740
Starwood Mortgage Residential Trust,
Series 2020-INV01, Class A1, 144A
1.027%(cc)   11/25/55     138   127,186
Towd Point Mortgage Trust,
Series 2015-04, Class M2, 144A
3.750%(cc)   04/25/55     515   507,383
Series 2016-02, Class M2, 144A
3.000%(cc)   08/25/55     1,080   994,467
Series 2018-03, Class A1, 144A
3.750%(cc)   05/25/58     774   744,262
Series 2019-01, Class A1, 144A
3.750%(cc)   03/25/58     3,845   3,648,961
Series 2019-04, Class B1B, 144A
3.500%(cc)   10/25/59     3,631   2,830,658
Series 2019-HY03, Class A1A, 144A, 1 Month SOFR + 1.114% (Cap N/A, Floor 1.000%)
6.444%(c)   10/25/59     132   133,432
Series 2022-04, Class A1, 144A
3.750%   09/25/62     5,189   4,830,128
Series 2023-01, Class A1, 144A
3.750%   01/25/63     2,124   1,997,158
Verus Securitization Trust,
Series 2020-01, Class A1, 144A
3.417%(cc)   01/25/60     729   694,799
Series 2021-01, Class A1, 144A
0.815%(cc)   01/25/66     645   562,355
Series 2021-04, Class A1, 144A
0.938%(cc)   07/25/66     416   328,415
Series 2021-05, Class A1, 144A
1.013%(cc)   09/25/66     5,718   4,747,173
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2021-07, Class A1, 144A
1.829%(cc)   10/25/66     4,273   $3,697,248
Series 2022-03, Class A1, 144A
4.130%(cc)   02/25/67     689   645,060
Wells Fargo Mortgage Backed Securities Trust,
Series 2020-RR01, Class A1, 144A
3.000%(cc)   05/25/50     103   87,779
 
Total Residential Mortgage-Backed Securities

(cost $238,752,557)
  228,660,108
Sovereign Bonds — 2.0%
Argentine Republic Government International Bond (Argentina),
Sr. Unsec’d. Notes
0.750%(cc)   07/09/30     —(r)   —
1.000%   07/09/29     151   80,671
3.500%(cc)   07/09/41     638   256,411
3.625%(cc)   07/09/35     1,364   564,448
Bahamas Government International Bond (Bahamas),
Sr. Unsec’d. Notes, 144A
6.950%   11/20/29     441   392,352
Bermuda Government International Bond (Bermuda),
Sr. Unsec’d. Notes
2.375%   08/20/30     3,520   2,950,200
5.000%   07/15/32     1,295   1,250,080
Sr. Unsec’d. Notes, 144A
2.375%   08/20/30     427   357,879
3.717%   01/25/27     865   825,805
5.000%   07/15/32     200   193,063
Brazil Minas SPE via State of Minas Gerais (Brazil),
Gov’t. Gtd. Notes
5.333%   02/15/28     386   380,210
Brazilian Government International Bond (Brazil),
Sr. Unsec’d. Notes
4.750%   01/14/50     1,275   953,700
5.625%   02/21/47     809   692,908
Chile Government International Bond (Chile),
Sr. Unsec’d. Notes
4.950%   01/05/36     2,320   2,246,775
Colombia Government International Bond (Colombia),
Sr. Unsec’d. Notes
3.250%   04/22/32     650   505,700
4.125%   02/22/42     662   447,843
5.625%   02/26/44     551   437,218
Dominican Republic International Bond (Dominican Republic),
Sr. Unsec’d. Notes, 144A
5.950%   01/25/27     328   326,032
6.000%   07/19/28     396   394,020
Hungary Government International Bond (Hungary),
Sr. Unsec’d. Notes, 144A
5.500%   03/26/36     2,080   2,020,850
6.125%   05/22/28     2,200   2,255,687
Indonesia Government International Bond (Indonesia),
Sr. Unsec’d. Notes
0.900%   02/14/27   EUR 398   396,374
1.450%   09/18/26   EUR 286   291,677
 
A45
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds (continued)
3.375%   07/30/25   EUR 353   $378,097
Sr. Unsec’d. Notes, EMTN
3.750%   06/14/28   EUR 1,052   1,139,561
Israel Government International Bond (Israel),
Sr. Unsec’d. Notes
2.750%   07/03/30     410   353,369
5.750%   03/12/54     930   890,475
Jamaica Government International Bond (Jamaica),
Sr. Unsec’d. Notes
9.625%   11/03/30   JMD 73,500   498,821
Mexican Bonos (Mexico),
Bonds, Series M
8.000%   11/07/47   MXN 327,730   16,996,885
Sr. Unsec’d. Notes, Series M
7.750%   11/13/42   MXN 160,634   8,219,147
Mexico Government International Bond (Mexico),
Sr. Unsec’d. Notes
3.500%   02/12/34     340   283,475
4.600%   02/10/48     1,106   888,256
6.000%   05/07/36     6,720   6,733,440
6.400%   05/07/54     900   899,156
Sr. Unsec’d. Notes, GMTN
5.750%   10/12/2110     320   280,200
Nigeria Government International Bond (Nigeria),
Sr. Unsec’d. Notes, 144A
7.143%   02/23/30     264   239,745
Sr. Unsec’d. Notes, 144A, MTN
6.500%   11/28/27     230   216,272
Panama Government International Bond (Panama),
Sr. Unsec’d. Notes
4.500%   04/16/50     200   134,375
6.853%   03/28/54     380   343,330
6.875%   01/31/36     600   584,437
Paraguay Government International Bond (Paraguay),
Sr. Unsec’d. Notes, 144A
3.849%   06/28/33     640   559,000
Peruvian Government International Bond (Peru),
Sr. Unsec’d. Notes
2.780%   12/01/60     260   150,069
2.783%   01/23/31     337   289,504
5.625%   11/18/50     245   243,163
Province of Quebec (Canada),
Unsec’d. Notes, Series A, MTN
7.140%   02/27/26     330   341,813
Republic of Italy Government International Bond (Italy),
Sr. Unsec’d. Notes, MTN
5.375%   06/15/33     3,607   3,554,005
Republic of Kenya Government International Bond (Kenya),
Sr. Unsec’d. Notes, 144A
6.300%   01/23/34     912   745,560
9.750%   02/16/31     640   654,400
Romanian Government International Bond (Romania),
Sr. Unsec’d. Notes
3.000%   02/14/31     4,590   3,858,469
Sr. Unsec’d. Notes, 144A
3.000%   02/14/31     224   188,300
5.875%   01/30/29     3,162   3,163,976
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds (continued)
6.375%   01/30/34     1,200   $1,217,625
Sr. Unsec’d. Notes, 144A, MTN
2.375%   04/19/27   EUR 295   302,447
5.000%   09/27/26   EUR 800   883,570
Sr. Unsec’d. Notes, EMTN
3.875%   10/29/35   EUR 67   62,525
Saudi Government International Bond (Saudi Arabia),
Sr. Unsec’d. Notes, 144A
0.750%   07/09/27   EUR 629   623,673
5.750%   01/16/54     1,560   1,543,912
Sr. Unsec’d. Notes, 144A, MTN
5.000%   01/18/53     1,845   1,651,275
Serbia International Bond (Serbia),
Sr. Unsec’d. Notes
1.500%   06/26/29   EUR 622   566,404
3.125%   05/15/27   EUR 1,386   1,438,278
State of Israel (Israel),
Sr. Unsec’d. Notes
3.375%   01/15/50     240   161,550
Uruguay Government International Bond (Uruguay),
Sr. Unsec’d. Notes
3.875%   07/02/40   UYU 6,482   184,663
4.975%   04/20/55     472   442,942
 
Total Sovereign Bonds

(cost $84,548,098)
  80,126,067
U.S. Government Agency Obligations — 34.0%
Federal Home Loan Mortgage Corp.
1.500%   11/01/40     1,363   1,120,492
1.500%   05/01/41     1,514   1,240,686
1.500%   07/01/41     1,139   930,108
1.500%   10/01/41     467   380,656
1.500%   11/01/41     135   109,792
1.500%   02/01/51     243   183,557
1.500%   06/01/51     76   57,089
1.500%   10/01/51     1,803   1,359,052
1.500%   11/01/51     603   454,867
1.500%   11/01/51     1,896   1,428,438
1.500%   01/01/52     346   260,654
1.500%   02/01/52     325   245,112
2.000%   05/01/36     1,557   1,388,312
2.000%   06/01/36     615   548,053
2.000%   08/01/40     2,032   1,718,417
2.000%   09/01/40     59   50,362
2.000%   12/01/40     301   254,942
2.000%   01/01/41     70   59,061
2.000%   05/01/41     1,822   1,537,336
2.000%   06/01/41     78   65,511
2.000%   08/01/41     321   269,944
2.000%   12/01/41     421   353,249
2.000%   12/01/41     1,083   908,991
2.000%   12/01/41     2,082   1,747,699
2.000%   01/01/42     85   71,287
2.000%   01/01/42     170   143,509
2.000%   01/01/42     1,078   902,666
2.000%   02/01/42     256   214,580
2.000%   02/01/42     2,055   1,723,956
 
A46
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
2.000%   04/01/42     179   $150,340
2.000%   04/01/42     1,030   868,330
2.000%   04/01/42     1,046   877,137
2.000%   05/01/42     92   77,142
2.000%   05/01/42     2,517   2,110,683
2.000%   08/01/42     90   75,605
2.000%   10/01/50     901   723,628
2.000%   10/01/50     1,818   1,449,485
2.000%   11/01/50     215   172,569
2.000%   11/01/50     556   442,948
2.000%   11/01/50     997   803,687
2.000%   12/01/50     853   675,953
2.000%   12/01/50     1,167   924,410
2.000%   12/01/50     3,370   2,667,295
2.000%   01/01/51     3,588   2,839,141
2.000%   02/01/51     94   76,080
2.000%   02/01/51     121   99,004
2.000%   02/01/51     684   541,869
2.000%   03/01/51     40   31,976
2.000%   03/01/51     55   44,660
2.000%   03/01/51     123   100,503
2.000%   03/01/51     243   196,109
2.000%   03/01/51     245   197,373
2.000%   03/01/51     283   228,204
2.000%   03/01/51     293   235,935
2.000%   03/01/51     323   260,586
2.000%   03/01/51     1,706   1,350,438
2.000%   03/01/51     3,951   3,132,619
2.000%   04/01/51     128   104,804
2.000%   04/01/51     227   183,648
2.000%   04/01/51     297   242,197
2.000%   04/01/51     1,479   1,176,507
2.000%   04/01/51     3,083   2,452,365
2.000%   05/01/51     1,672   1,348,100
2.000%   07/01/51     1,040   826,603
2.000%   08/01/51     602   479,912
2.000%   09/01/51     167   134,583
2.000%   09/01/51     170   136,289
2.000%   09/01/51     943   748,863
2.000%   10/01/51     1,947   1,545,373
2.000%   11/01/51     356   284,563
2.000%   11/01/51     422   339,874
2.000%   11/01/51     606   485,524
2.000%   02/01/52     89   71,915
2.000%   04/01/52     2,908   2,334,885
2.500%   11/01/27     433   417,299
2.500%   02/01/30     47   44,045
2.500%   04/01/30     62   57,862
2.500%   05/01/30     115   108,152
2.500%   07/01/30     8   7,162
2.500%   07/01/30     10   9,750
2.500%   07/01/30     29   27,427
2.500%   07/01/30     37   34,882
2.500%   08/01/30     101   94,892
2.500%   08/01/30     122   114,638
2.500%   09/01/30     97   91,360
2.500%   09/01/30     293   275,592
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
2.500%   04/01/31     250   $235,016
2.500%   04/01/41     162   141,466
2.500%   03/01/42     257   222,906
2.500%   04/01/42     87   75,091
2.500%   06/01/50     1,044   873,390
2.500%   07/01/50     703   592,443
2.500%   07/01/50     1,055   880,356
2.500%   07/01/50     4,034   3,366,142
2.500%   09/01/50     1,650   1,381,209
2.500%   09/01/50     7,005   5,833,248
2.500%   11/01/50     166   139,909
2.500%   11/01/50     239   201,683
2.500%   11/01/50     1,933   1,611,217
2.500%   12/01/50     706   592,793
2.500%   12/01/50     904   762,896
2.500%   01/01/51     47   39,666
2.500%   01/01/51     145   121,210
2.500%   02/01/51     590   497,268
2.500%   03/01/51     272   230,857
2.500%   03/01/51     7,087   5,903,248
2.500%   04/01/51     12,936   10,753,945
2.500%   05/01/51     153   129,742
2.500%   05/01/51     459   381,391
2.500%   05/01/51     640   532,581
2.500%   05/01/51     691   579,563
2.500%   07/01/51     95   75,961
2.500%   07/01/51     328   275,861
2.500%   07/01/51     441   367,446
2.500%   07/01/51     553   462,821
2.500%   08/01/51     77   65,021
2.500%   08/01/51     252   211,179
2.500%   08/01/51     319   268,619
2.500%   08/01/51     327   274,478
2.500%   08/01/51     583   484,932
2.500%   08/01/51     1,153   970,092
2.500%   09/01/51     464   390,848
2.500%   09/01/51     492   414,656
2.500%   10/01/51     442   370,703
2.500%   10/01/51     995   828,308
2.500%   11/01/51     1,395   1,174,845
2.500%   01/01/52     82   68,993
2.500%   01/01/52     335   281,575
2.500%   01/01/52     411   346,097
2.500%   02/01/52     87   73,313
2.500%   02/01/52     600   504,699
2.500%   03/01/52     174   146,076
2.500%   04/01/52     721   604,845
2.500%   04/01/52     743   616,433
2.500%   04/01/52     3,558   2,983,379
3.000%   01/01/30     42   40,537
3.000%   01/01/30     53   50,299
3.000%   02/01/30     251   240,549
3.000%   06/01/30     161   154,043
3.000%   07/01/30     24   23,087
3.000%   07/01/30     135   129,037
3.000%   08/01/30     25   23,384
3.000%   08/01/30     35   33,536
 
A47
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.000%   09/01/32     24   $22,443
3.000%   10/01/32     4   4,093
3.000%   10/01/32     14   13,660
3.000%   11/01/32     6   5,667
3.000%   12/01/32     4   3,785
3.000%   09/01/37     36   32,759
3.000%   06/01/38     581   534,452
3.000%   07/01/42     354   316,386
3.000%   09/01/42     630   562,271
3.000%   04/01/46     2,483   2,186,775
3.000%   09/01/46     2,355   2,074,987
3.000%   12/01/46     22   19,248
3.000%   12/01/46     65   58,019
3.000%   12/01/46     97   86,561
3.000%   12/01/46     193   169,870
3.000%   01/01/47     503   444,191
3.000%   01/01/47     725   639,128
3.000%   02/01/47     1,457   1,294,084
3.000%   11/01/49     266   233,400
3.000%   03/01/50     65   57,126
3.000%   06/01/50     538   465,602
3.000%   07/01/50     672   584,447
3.000%   08/01/50     406   352,268
3.000%   08/01/50     1,238   1,086,465
3.000%   08/01/50     1,621   1,419,709
3.000%   08/01/50     2,971   2,593,874
3.000%   02/01/51     80   69,421
3.000%   03/01/51     957   823,893
3.000%   08/01/51     304   264,489
3.000%   09/01/51     1,813   1,578,474
3.000%   10/01/51     349   304,873
3.000%   10/01/51     2,332   2,030,119
3.000%   11/01/51     156   134,703
3.000%   12/01/51     90   78,027
3.000%   01/01/52     889   777,171
3.000%   02/01/52     181   156,001
3.000%   02/01/52     922   802,954
3.000%   03/01/52     264   227,317
3.000%   04/01/52     437   376,762
3.000%   05/01/52     1,106   961,869
3.500%   02/01/31     27   26,131
3.500%   04/01/31     10   9,347
3.500%   04/01/31     223   215,512
3.500%   04/01/32     608   587,152
3.500%   01/01/34     243   231,063
3.500%   05/01/35     886   846,816
3.500%   01/01/38     81   75,918
3.500%   04/01/42     92   84,902
3.500%   05/01/42     11   9,730
3.500%   08/01/42     47   43,266
3.500%   08/01/42     81   74,204
3.500%   08/01/42     248   228,077
3.500%   09/01/42     67   61,816
3.500%   10/01/42     17   15,425
3.500%   11/01/42     16   15,063
3.500%   02/01/43     877   807,130
3.500%   06/01/43     63   58,326
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.500%   06/01/44     61   $55,157
3.500%   01/01/45     6,288   5,789,076
3.500%   09/01/45     36   33,092
3.500%   11/01/45     150   137,338
3.500%   03/01/46     976   897,924
3.500%   06/01/46     22   20,304
3.500%   09/01/46     76   68,859
3.500%   03/01/47     92   83,559
3.500%   03/01/47     272   250,106
3.500%   05/01/47     142   129,100
3.500%   10/01/47     257   236,678
3.500%   11/01/47     157   141,612
3.500%   12/01/47     316   291,431
3.500%   01/01/48     52   47,156
3.500%   01/01/48     74   68,297
3.500%   01/01/48     213   194,585
3.500%   02/01/48     376   342,908
3.500%   03/01/48     334   305,462
3.500%   03/01/48     1,624   1,483,599
3.500%   01/01/50     392   356,551
3.500%   05/01/50     640   580,578
3.500%   03/01/52     908   814,929
3.500%   04/01/52     474   424,318
3.500%   05/01/52     2,336   2,092,046
3.500%   06/01/52     4,324   3,871,275
4.000%   02/01/34     200   196,107
4.000%   02/01/34     239   235,945
4.000%   03/01/34     211   207,395
4.000%   11/01/36     6   5,349
4.000%   06/01/37     74   71,532
4.000%   08/01/40     42   39,502
4.000%   09/01/40     82   78,263
4.000%   09/01/40     269   255,506
4.000%   09/01/40     347   329,568
4.000%   11/01/40     268   254,067
4.000%   12/01/40     184   174,089
4.000%   04/01/41     3   2,657
4.000%   03/01/42     305   289,292
4.000%   10/01/42     558   529,315
4.000%   12/01/42     16   14,794
4.000%   04/01/43     279   265,300
4.000%   05/01/43     43   41,439
4.000%   06/01/43     24   23,462
4.000%   06/01/43     26   24,463
4.000%   06/01/43     28   26,759
4.000%   06/01/43     35   33,253
4.000%   07/01/43     126   120,498
4.000%   07/01/43     141   135,266
4.000%   08/01/43     121   115,055
4.000%   03/01/44     235   222,942
4.000%   04/01/44     85   81,041
4.000%   07/01/44     34   32,392
4.000%   07/01/44     66   62,195
4.000%   01/01/45     113   107,407
4.000%   01/01/45     2,610   2,472,781
4.000%   02/01/45     11   10,234
4.000%   02/01/45     26   25,289
 
A48
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.000%   09/01/45     192   $183,956
4.000%   09/01/45     2,515   2,407,438
4.000%   12/01/45     41   39,416
4.000%   12/01/45     50   47,449
4.000%   04/01/47     132   125,093
4.000%   07/01/47     516   489,093
4.000%   04/01/48     1,123   1,055,786
4.000%   06/01/48     211   200,205
4.000%   07/01/48     362   341,274
4.000%   11/01/48     56   52,810
4.000%   04/01/49     1,114   1,049,663
4.000%   05/01/49     51   47,973
4.000%   05/01/49     478   452,475
4.000%   07/01/49     186   176,060
4.000%   07/01/49     562   532,661
4.000%   07/01/49     1,387   1,306,208
4.000%   06/01/50     1,317   1,236,398
4.000%   07/01/50     91   85,893
4.000%   04/01/52     596   557,424
4.000%   04/01/52     862   803,501
4.500%   08/01/24     1   561
4.500%   08/01/39     90   87,810
4.500%   12/01/39     38   37,571
4.500%   07/01/40     14   13,640
4.500%   12/01/40     111   108,746
4.500%   05/01/41     77   75,848
4.500%   05/01/41     84   82,733
4.500%   07/01/41     201   197,812
4.500%   03/01/42     183   179,466
4.500%   05/01/42     158   155,169
4.500%   11/01/43     129   125,762
4.500%   12/01/43     185   182,012
4.500%   12/01/43     372   361,753
4.500%   03/01/44     330   320,978
4.500%   04/01/44     16   15,693
4.500%   04/01/44     21   20,238
4.500%   04/01/44     48   47,251
4.500%   04/01/44     75   72,926
4.500%   04/01/44     127   123,902
4.500%   04/01/44     171   165,859
4.500%   04/01/44     205   201,571
4.500%   04/01/44     293   287,649
4.500%   04/01/44     914   897,082
4.500%   06/01/44     140   136,829
4.500%   03/01/47     175   171,667
4.500%   04/01/47     451   442,291
4.500%   05/01/47     169   164,772
4.500%   07/01/47     169   164,926
4.500%   07/01/47     651   634,729
4.500%   08/01/47     49   48,107
4.500%   10/01/47     108   104,902
4.500%   12/01/47     106   102,594
4.500%   02/01/48     69   66,716
4.500%   06/01/48     61   59,428
4.500%   07/01/48     582   567,481
4.500%   08/01/48     470   457,718
4.500%   08/01/48     811   790,276
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.500%   08/01/48     848   $827,150
4.500%   09/01/48     22   20,995
4.500%   09/01/48     516   500,532
4.500%   03/01/49     1,472   1,445,319
4.500%   04/01/49     265   256,783
4.500%   09/01/50     88   84,309
4.500%   07/01/52     367   351,892
4.500%   07/01/52     1,852   1,763,533
4.500%   11/01/52     101   96,361
4.500%   11/01/52     553   530,058
4.500%   11/01/52     6,166   5,871,467
5.000%   07/01/25     7   6,708
5.000%   06/01/26     2   1,886
5.000%   02/01/38     1,755   1,754,043
5.000%   01/01/39     771   769,730
5.000%   06/01/41     36   35,662
5.000%   11/01/41     555   554,613
5.000%   12/01/44     100   100,526
5.000%   09/01/48     133   131,477
5.000%   10/01/48     72   71,334
5.000%   12/01/48     743   737,301
5.000%   10/01/49     4,442   4,399,384
5.000%   03/01/50     2,714   2,687,247
5.000%   07/01/50     177   174,942
5.000%   06/01/52     69   67,233
5.000%   07/01/52     1,067   1,046,416
5.000%   09/01/52     87   84,703
5.000%   09/01/52     478   466,220
5.000%   09/01/52     4,206   4,105,781
5.000%   09/01/52     5,462   5,333,165
5.000%   11/01/52     159   155,108
5.000%   12/01/52     183   179,438
5.000%   01/01/53     185   181,583
5.000%   01/01/53     357   349,354
5.000%   01/01/53     1,008   983,801
5.000%   03/01/53     464   456,286
5.000%   04/01/53     378   372,462
5.000%   04/01/53     582   569,718
5.000%   04/01/53     1,114   1,094,800
5.000%   04/01/53     4,552   4,440,976
5.000%   05/01/53     187   184,437
5.500%   02/01/35     20   20,502
5.500%   10/01/36     7   6,925
5.500%   12/01/36     3   2,892
5.500%   12/01/36     4   4,300
5.500%   12/01/36     9   9,200
5.500%   03/01/37     3   3,050
5.500%   04/01/37     4   4,247
5.500%   01/01/38     1   601
5.500%   01/01/38     4   3,864
5.500%   02/01/38     1   634
5.500%   02/01/38     494   504,548
5.500%   04/01/38     330   337,097
5.500%   07/01/38     125   128,218
5.500%   08/01/38     78   79,345
5.500%   08/01/38     125   127,904
5.500%   12/01/38     150   153,197
 
A49
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
5.500%   01/01/39     149   $152,395
5.500%   11/01/52     1,933   1,930,207
5.500%   12/01/52     186   185,510
5.500%   01/01/53     178   177,779
5.500%   01/01/53     191   190,894
5.500%   02/01/53     2,345   2,342,883
5.500%   03/01/53     373   372,962
5.500%   04/01/53     92   91,339
5.500%   04/01/53     187   186,833
5.500%   04/01/53     190   189,244
5.500%   04/01/53     191   190,476
5.500%   05/01/53     94   93,398
5.500%   05/01/53     185   185,080
5.500%   05/01/53     186   186,053
5.500%   05/01/53     191   191,291
5.500%   06/01/53     93   92,986
5.500%   07/01/53     96   97,031
5.500%   07/01/53     193   192,618
5.500%   08/01/53     190   188,778
5.500%   08/01/53     476   474,671
5.500%   09/01/53     293   292,970
5.500%   10/01/53     399   397,459
5.500%   11/01/53     1,706   1,697,178
5.500%   03/01/54     2,682   2,668,643
6.000%   01/01/27     28   28,589
6.000%   12/01/28     1   578
6.000%   01/01/32     —(r)   344
6.000%   11/01/32     1   1,146
6.000%   03/01/33     2   2,531
6.000%   11/01/33     1   1,428
6.000%   02/01/34     69   70,805
6.000%   12/01/34     2   1,859
6.000%   01/01/36     12   12,637
6.000%   03/01/36     1   558
6.000%   04/01/36     10   10,692
6.000%   08/01/36     6   6,435
6.000%   11/01/36     3   3,017
6.000%   12/01/36     226   234,302
6.000%   04/01/37     —(r)   450
6.000%   05/01/37     4   4,461
6.000%   07/01/37     1   698
6.000%   08/01/37     14   14,702
6.000%   09/01/37     1   695
6.000%   09/01/37     2   2,554
6.000%   10/01/37     —(r)   381
6.000%   10/01/37     2   2,401
6.000%   10/01/37     5   5,116
6.000%   10/01/37     11   11,522
6.000%   11/01/37     83   85,761
6.000%   11/01/37     701   727,450
6.000%   12/01/37     1   890
6.000%   01/01/38     3   2,626
6.000%   01/01/38     4   4,289
6.000%   01/01/38     6   6,070
6.000%   01/01/38     6   6,499
6.000%   01/01/38     8   7,916
6.000%   01/01/38     12   12,535
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
6.000%   04/01/38     2   $2,265
6.000%   04/01/38     14   14,134
6.000%   06/01/38     —(r)   444
6.000%   07/01/38     21   21,937
6.000%   08/01/38     2   2,287
6.000%   08/01/38     3   2,791
6.000%   08/01/38     106   110,309
6.000%   09/01/38     1   534
6.000%   09/01/38     5   5,107
6.000%   10/01/38     5   5,050
6.000%   11/01/38     2   1,755
6.000%   01/01/39     251   260,192
6.000%   10/01/39     6   6,243
6.000%   03/01/40     4   4,504
6.000%   04/01/40     88   89,361
6.000%   05/01/40     1   691
6.000%   12/01/52     445   451,633
6.000%   12/01/52     1,391   1,417,152
6.000%   03/01/53     183   185,524
6.000%   03/01/53     649   664,206
6.000%   07/01/53     281   286,378
6.000%   09/01/53     296   299,435
6.000%   09/01/53     481   492,846
6.500%   09/01/39     51   53,514
6.500%   09/01/39     153   156,570
6.500%   01/01/53     74   75,873
6.500%   01/01/53     155   159,955
6.500%   02/01/53     183   187,301
6.500%   04/01/53     172   176,111
6.500%   05/01/53     91   94,161
6.500%   05/01/53     93   96,741
6.500%   05/01/53     181   185,719
6.500%   05/01/53     184   189,629
6.500%   11/01/53     1,473   1,515,050
6.750%   03/15/31     755   864,602
7.000%   03/01/39     49   51,952
Federal Home Loan Mortgage Corp., 1 Year RFUCCT + 1.634% (Cap 7.636%, Floor 1.634%)
2.635%(c)   12/01/50     990   905,806
Federal Home Loan Mortgage Corp., MTN
3.163%(s)   12/14/29     420   325,978
Federal National Mortgage Assoc.
1.500%   12/01/35     37   31,894
1.500%   04/01/36     455   395,404
1.500%   08/01/36     3,343   2,900,674
1.500%   11/01/41     759   617,821
1.500%   01/01/42     258   209,942
1.500%   02/01/42     443   360,576
1.500%   11/01/50     2,722   2,055,315
1.500%   01/01/51     4,522   3,417,113
1.500%   02/01/51     4,961   3,738,151
1.500%   03/01/51     682   515,531
1.500%   03/01/51     749   566,163
1.500%   06/01/51     32   24,464
1.500%   08/01/51     342   258,359
1.500%   09/01/51     238   179,136
1.500%   09/01/51     874   661,043
 
A50
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
1.500%   09/01/51     1,505   $1,133,914
1.500%   10/01/51     234   176,693
1.500%   11/01/51     1,896   1,428,843
1.500%   01/01/52     617   464,579
2.000%   TBA     15,546   12,296,697
2.000%   03/01/31     919   852,658
2.000%   10/01/31     40   37,029
2.000%   11/01/31     13   11,827
2.000%   11/01/31     69   63,055
2.000%   11/01/31     163   150,243
2.000%   11/01/31     193   176,934
2.000%   12/01/31     57   52,498
2.000%   01/01/32     1,897   1,748,112
2.000%   03/01/32     294   269,978
2.000%   03/01/36     1,309   1,168,488
2.000%   04/01/36     2,403   2,141,888
2.000%   05/01/36     779   694,554
2.000%   05/01/36     817   728,537
2.000%   06/01/36     2,305   2,057,566
2.000%   08/01/36     257   229,162
2.000%   08/01/36     1,512   1,347,757
2.000%   09/01/36     1,153   1,027,582
2.000%   09/01/36     2,297   2,039,209
2.000%   12/01/36     779   694,183
2.000%   02/01/37     1,058   938,287
2.000%   08/01/40     93   79,121
2.000%   10/01/40     757   640,654
2.000%   12/01/40     364   307,735
2.000%   12/01/40     4,413   3,727,457
2.000%   01/01/41     2,938   2,483,465
2.000%   05/01/41     77   65,295
2.000%   05/01/41     391   329,984
2.000%   06/01/41     472   398,327
2.000%   07/01/41     906   762,742
2.000%   08/01/41     983   827,019
2.000%   09/01/41     170   143,295
2.000%   09/01/41     2,327   1,956,051
2.000%   10/01/41     1,778   1,494,325
2.000%   11/01/41     658   553,093
2.000%   12/01/41     586   492,210
2.000%   02/01/42     934   784,200
2.000%   03/01/42     86   72,055
2.000%   04/01/42     262   219,388
2.000%   05/01/42     89   74,278
2.000%   05/01/42     90   75,353
2.000%   05/01/42     298   248,855
2.000%   06/01/42     98   82,040
2.000%   08/01/42     298   251,153
2.000%   08/01/50     145   117,146
2.000%   09/01/50     141   113,635
2.000%   09/01/50     220   175,673
2.000%   09/01/50     359   286,162
2.000%   09/01/50     963   773,584
2.000%   09/01/50     2,375   1,893,236
2.000%   10/01/50     71   56,880
2.000%   10/01/50     357   285,761
2.000%   10/01/50     1,355   1,079,471
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
2.000%   11/01/50     177   $141,188
2.000%   11/01/50     671   531,375
2.000%   11/01/50     2,094   1,659,143
2.000%   11/01/50     9,335   7,444,544
2.000%   12/01/50     957   767,320
2.000%   12/01/50     1,008   813,319
2.000%   12/01/50     1,994   1,578,804
2.000%   12/01/50     2,320   1,848,684
2.000%   12/01/50     4,320   3,422,949
2.000%   01/01/51     61   49,567
2.000%   01/01/51     304   243,423
2.000%   01/01/51     920   741,916
2.000%   01/01/51     2,445   1,946,413
2.000%   01/01/51     3,132   2,481,115
2.000%   01/01/51     3,317   2,627,583
2.000%   02/01/51     56   45,023
2.000%   02/01/51     114   93,860
2.000%   02/01/51     123   99,293
2.000%   02/01/51     192   154,718
2.000%   02/01/51     198   161,484
2.000%   02/01/51     257   207,111
2.000%   02/01/51     745   602,346
2.000%   02/01/51     807   642,995
2.000%   02/01/51     1,438   1,152,570
2.000%   03/01/51     43   35,044
2.000%   03/01/51     76   61,192
2.000%   03/01/51     88   70,952
2.000%   03/01/51     165   133,164
2.000%   03/01/51     173   140,023
2.000%   03/01/51     177   142,937
2.000%   03/01/51     236   190,511
2.000%   03/01/51     249   201,369
2.000%   03/01/51     1,394   1,107,570
2.000%   03/01/51     1,924   1,522,808
2.000%   03/01/51     2,720   2,165,704
2.000%   04/01/51     121   98,105
2.000%   04/01/51     128   104,582
2.000%   04/01/51     132   106,371
2.000%   04/01/51     241   194,336
2.000%   04/01/51     274   221,473
2.000%   04/01/51     3,030   2,411,453
2.000%   04/01/51     3,289   2,616,445
2.000%   04/01/51     4,236   3,364,682
2.000%   05/01/51     1,761   1,399,297
2.000%   05/01/51(k)     33,176   26,399,816
2.000%   06/01/51     2,727   2,168,492
2.000%   07/01/51     459   365,523
2.000%   08/01/51     486   386,099
2.000%   09/01/51     4,267   3,388,380
2.000%   10/01/51     564   455,295
2.000%   02/01/52     264   212,693
2.000%   02/01/52     266   213,359
2.000%   02/01/52     339   272,097
2.000%   02/01/52     376   300,054
2.000%   02/01/52     514   412,766
2.000%   02/01/52     1,413   1,121,211
2.000%   03/01/52     187   150,007
 
A51
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
2.000%   03/01/52     1,031   $831,509
2.000%   03/01/52     1,757   1,416,400
2.000%   04/01/52     5,455   4,343,559
2.250%   04/01/33     875   722,595
2.500%   TBA     3,125   2,843,036
2.500%   TBA(tt)     12,637   10,443,979
2.500%   09/01/27     8   7,436
2.500%   09/01/27     10   9,539
2.500%   02/01/28     4   3,358
2.500%   04/01/28     7   6,725
2.500%   08/01/28     20   19,202
2.500%   02/01/30     7   6,804
2.500%   03/01/30     21   20,148
2.500%   04/01/30     42   39,240
2.500%   05/01/30     71   66,303
2.500%   07/01/30     12   11,559
2.500%   07/01/30     44   41,602
2.500%   07/01/30     60   56,140
2.500%   08/01/30     23   21,732
2.500%   08/01/30     60   56,562
2.500%   08/01/30     69   65,265
2.500%   08/01/30     115   108,141
2.500%   09/01/30     78   73,594
2.500%   09/01/30     95   89,582
2.500%   11/01/30     7   6,976
2.500%   11/01/30     76   71,149
2.500%   11/01/30     77   72,376
2.500%   11/01/30     88   82,607
2.500%   11/01/30     98   92,349
2.500%   03/01/31     12   11,565
2.500%   06/01/31     125   116,874
2.500%   07/01/31     63   58,616
2.500%   08/01/31     11   9,862
2.500%   10/01/31     98   91,264
2.500%   10/01/31     154   143,504
2.500%   10/01/31     189   176,511
2.500%   10/01/31     247   230,919
2.500%   11/01/31     11   10,386
2.500%   11/01/31     12   11,119
2.500%   11/01/31     27   24,831
2.500%   11/01/31     39   36,842
2.500%   11/01/31     55   51,440
2.500%   11/01/31     81   75,838
2.500%   11/01/31     137   127,862
2.500%   11/01/31     186   173,533
2.500%   11/01/31     2,062   1,925,705
2.500%   02/01/32     20   18,813
2.500%   03/01/32     63   58,986
2.500%   03/01/32     135   125,397
2.500%   03/01/32     151   140,972
2.500%   04/01/32     10   9,478
2.500%   08/01/32     361   336,598
2.500%   02/01/33     660   619,781
2.500%   12/01/35     667   611,892
2.500%   12/01/35     765   701,048
2.500%   03/01/38     125   112,572
2.500%   06/01/40     2,817   2,460,464
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
2.500%   11/01/40     229   $199,287
2.500%   03/01/41     211   183,761
2.500%   04/01/41     250   217,863
2.500%   04/01/41     316   276,073
2.500%   04/01/41     764   665,700
2.500%   11/01/41     161   140,525
2.500%   11/01/41     670   583,112
2.500%   02/01/42     327   284,283
2.500%   03/01/42     85   73,827
2.500%   03/01/42     253   220,037
2.500%   04/01/42     608   524,034
2.500%   05/01/42     87   75,217
2.500%   09/01/42     186   161,981
2.500%   06/01/50     1,006   839,777
2.500%   07/01/50     188   156,556
2.500%   07/01/50     359   299,933
2.500%   09/01/50     1,729   1,441,591
2.500%   10/01/50     136   114,680
2.500%   10/01/50     174   141,429
2.500%   10/01/50     1,070   891,848
2.500%   10/01/50     2,496   2,100,865
2.500%   11/01/50     298   250,976
2.500%   11/01/50     1,614   1,338,917
2.500%   12/01/50     110   91,880
2.500%   12/01/50     157   131,665
2.500%   01/01/51     493   414,616
2.500%   02/01/51     108   90,143
2.500%   02/01/51     11,049   9,200,174
2.500%   03/01/51     441   372,269
2.500%   03/01/51     1,871   1,557,149
2.500%   04/01/51     81   68,456
2.500%   04/01/51     263   222,636
2.500%   04/01/51     18,613   15,478,580
2.500%   05/01/51     187   150,390
2.500%   05/01/51     657   546,825
2.500%   05/01/51     1,771   1,464,653
2.500%   05/01/51     2,537   2,129,901
2.500%   05/01/51     3,419   2,845,372
2.500%   05/01/51     4,255   3,569,546
2.500%   05/01/51     4,445   3,693,274
2.500%   05/01/51     6,536   5,477,769
2.500%   06/01/51     144   122,639
2.500%   06/01/51     228   191,517
2.500%   06/01/51     640   538,712
2.500%   06/01/51     1,160   967,113
2.500%   06/01/51     3,537   2,937,526
2.500%   07/01/51     388   325,468
2.500%   07/01/51     498   417,730
2.500%   07/01/51     637   538,805
2.500%   07/01/51     1,445   1,204,334
2.500%   08/01/51     235   198,169
2.500%   08/01/51     260   218,533
2.500%   08/01/51     479   402,870
2.500%   08/01/51     1,923   1,602,415
2.500%   08/01/51     3,412   2,859,548
2.500%   09/01/51     84   70,492
2.500%   09/01/51     152   129,237
 
A52
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
2.500%   09/01/51     220   $187,085
2.500%   09/01/51     335   279,539
2.500%   09/01/51     879   731,692
2.500%   10/01/51     245   205,309
2.500%   10/01/51     864   716,798
2.500%   10/01/51     1,023   860,789
2.500%   10/01/51     2,634   2,184,755
2.500%   11/01/51     158   133,193
2.500%   11/01/51     246   207,006
2.500%   11/01/51     952   798,791
2.500%   11/01/51     2,102   1,751,265
2.500%   12/01/51     563   470,495
2.500%   01/01/52     88   70,863
2.500%   01/01/52     167   141,925
2.500%   01/01/52     252   212,044
2.500%   01/01/52     333   280,054
2.500%   01/01/52     839   705,879
2.500%   01/01/52     1,548   1,299,047
2.500%   02/01/52     246   207,309
2.500%   02/01/52     256   215,450
2.500%   02/01/52     271   227,019
2.500%   02/01/52     790   659,608
2.500%   03/01/52     621   520,481
2.500%   03/01/52     728   606,876
2.500%   03/01/52     1,020   848,406
2.500%   03/01/52     1,283   1,066,560
2.500%   04/01/52     87   72,946
2.500%   04/01/52     565   470,098
2.500%   05/01/52     1,470   1,233,031
2.500%   01/01/57     2,098   1,734,535
2.500%   07/01/61     1,089   871,184
2.500%   09/01/61     260   208,281
3.000%   TBA     3,400   2,924,718
3.000%   TBA     3,865   3,596,949
3.000%   07/01/27     3   3,310
3.000%   04/01/28     25   23,997
3.000%   05/01/28     29   28,335
3.000%   10/01/28     4   3,564
3.000%   10/01/28     43   41,444
3.000%   11/01/28     5   4,872
3.000%   10/01/29     68   64,631
3.000%   02/01/30     217   207,531
3.000%   03/01/30     113   107,777
3.000%   04/01/30     93   89,244
3.000%   04/01/30     1,068   1,020,181
3.000%   05/01/30     56   53,375
3.000%   05/01/30     94   90,049
3.000%   07/01/30     18   16,603
3.000%   07/01/30     26   24,849
3.000%   07/01/30     76   71,924
3.000%   08/01/30     8   7,808
3.000%   08/01/30     22   21,015
3.000%   08/01/30     25   23,889
3.000%   08/01/30     88   84,057
3.000%   08/01/30     101   96,162
3.000%   08/01/30     108   103,131
3.000%   08/01/30     134   128,052
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.000%   08/01/30     279   $264,913
3.000%   08/01/30     468   443,238
3.000%   09/01/30     13   12,228
3.000%   09/01/30     47   44,709
3.000%   09/01/30     86   81,498
3.000%   09/01/30     415   394,940
3.000%   11/01/30     4   3,811
3.000%   12/01/30     8   7,656
3.000%   04/01/31     6   6,032
3.000%   09/01/31     79   75,044
3.000%   12/01/31     27   25,962
3.000%   02/01/32     75   70,610
3.000%   09/01/32     35   32,839
3.000%   11/01/32     210   196,763
3.000%   01/01/33     42   39,889
3.000%   01/01/33     266   251,638
3.000%   01/01/33     278   261,532
3.000%   11/01/33     305   286,970
3.000%   05/01/35     453   423,052
3.000%   07/01/35     57   52,648
3.000%   08/01/35     57   53,049
3.000%   08/01/35     61   57,139
3.000%   12/01/35     17   15,601
3.000%   02/01/36     447   412,379
3.000%   04/01/36     337   311,379
3.000%   07/01/36     278   259,570
3.000%   07/01/36     986   908,632
3.000%   10/01/36     24   21,785
3.000%   11/01/36     76   69,952
3.000%   11/01/36     144   132,513
3.000%   12/01/36     145   133,017
3.000%   12/01/36     188   172,161
3.000%   12/01/36     218   200,353
3.000%   12/01/37     50   45,751
3.000%   06/01/38     609   561,473
3.000%   09/01/40     41   36,840
3.000%   05/01/42     438   391,542
3.000%   06/01/42     532   475,484
3.000%   09/01/42     969   869,235
3.000%   12/01/42     19   16,542
3.000%   12/01/42     39   34,380
3.000%   01/01/43     7   6,353
3.000%   01/01/43     19   16,909
3.000%   01/01/43     20   17,713
3.000%   01/01/43     56   50,090
3.000%   01/01/43     70   62,457
3.000%   01/01/43     202   179,321
3.000%   01/01/43     208   184,231
3.000%   02/01/43     28   24,623
3.000%   06/01/43     87   77,585
3.000%   06/01/43     3,356   2,988,001
3.000%   07/01/43     211   188,162
3.000%   10/01/43     189   168,931
3.000%   11/01/43     601   536,423
3.000%   11/01/44     1,984   1,771,161
3.000%   11/01/44     2,820   2,517,112
3.000%   01/01/45     160   142,566
 
A53
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.000%   02/01/45     187   $166,951
3.000%   03/01/45     493   439,650
3.000%   04/01/45     48   42,437
3.000%   04/01/45     142   125,559
3.000%   05/01/45     1,188   1,056,351
3.000%   07/01/45     740   657,274
3.000%   05/01/46     75   66,021
3.000%   06/01/46     13   11,833
3.000%   06/01/46     47   41,133
3.000%   06/01/46     183   163,257
3.000%   08/01/46     50   44,684
3.000%   09/01/46     235   210,037
3.000%   10/01/46     122   107,602
3.000%   11/01/46     634   559,396
3.000%   01/01/47     82   72,186
3.000%   01/01/47     93   81,934
3.000%   01/01/47     187   164,470
3.000%   02/01/47     76   66,813
3.000%   02/01/47     152   134,454
3.000%   03/01/47     236   207,760
3.000%   03/01/47     248   215,812
3.000%   03/01/47     305   269,329
3.000%   11/01/47     26   23,056
3.000%   12/01/47     592   523,890
3.000%   11/01/48     246   219,692
3.000%   08/01/49     31   27,978
3.000%   12/01/49     168   146,169
3.000%   01/01/50     448   390,489
3.000%   02/01/50     206   181,497
3.000%   02/01/50     405   353,347
3.000%   02/01/50     455   395,581
3.000%   02/01/50     672   590,182
3.000%   02/01/50     10,708   9,432,549
3.000%   04/01/50     2,121   1,853,566
3.000%   07/01/50     454   393,986
3.000%   08/01/50     620   545,437
3.000%   08/01/50     660   573,992
3.000%   08/01/50     1,480   1,286,223
3.000%   10/01/50     284   249,123
3.000%   10/01/50     1,146   996,115
3.000%   11/01/50     664   576,552
3.000%   12/01/50     1,566   1,361,235
3.000%   04/01/51     562   488,364
3.000%   05/01/51     1,398   1,229,577
3.000%   05/01/51     2,080   1,795,272
3.000%   06/01/51     282   243,507
3.000%   07/01/51     356   308,262
3.000%   08/01/51     81   71,078
3.000%   08/01/51     282   248,847
3.000%   08/01/51     644   559,619
3.000%   08/01/51     1,526   1,323,909
3.000%   08/01/51     1,669   1,447,478
3.000%   09/01/51     2,309   2,002,793
3.000%   10/01/51     375   323,539
3.000%   10/01/51     413   358,289
3.000%   10/01/51     2,419   2,106,346
3.000%   11/01/51     480   419,144
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.000%   11/01/51     690   $599,547
3.000%   11/01/51     2,165   1,870,661
3.000%   11/01/51     3,295   2,849,371
3.000%   12/01/51     76   66,601
3.000%   12/01/51     673   584,001
3.000%   12/01/51     1,320   1,145,176
3.000%   01/01/52     166   145,477
3.000%   01/01/52     170   146,735
3.000%   01/01/52     523   455,372
3.000%   01/01/52     1,017   881,924
3.000%   01/01/52     1,612   1,397,762
3.000%   02/01/52     881   759,267
3.000%   02/01/52     3,752   3,238,775
3.000%   03/01/52     158   139,443
3.000%   03/01/52     582   513,118
3.000%   03/01/52     848   730,475
3.000%   03/01/52     1,756   1,522,257
3.000%   04/01/52     525   454,788
3.000%   04/01/52     896   782,345
3.000%   04/01/52     899   776,074
3.000%   04/01/52     1,146   995,682
3.000%   05/01/52     1,521   1,321,543
3.000%   06/01/52     252   217,759
3.500%   TBA     2,160   2,052,982
3.500%   11/01/27     10   9,769
3.500%   11/01/28     75   71,934
3.500%   12/01/28     43   41,160
3.500%   12/01/28     49   47,346
3.500%   12/01/28     332   322,345
3.500%   12/01/28     425   411,797
3.500%   02/01/29     84   81,316
3.500%   02/01/29     287   278,167
3.500%   03/01/29     81   79,004
3.500%   08/01/30     73   70,620
3.500%   04/01/34     20   18,835
3.500%   04/01/34     123   118,429
3.500%   12/01/34     184   174,615
3.500%   01/01/35     116   109,363
3.500%   02/01/37     176   165,906
3.500%   03/01/37     99   94,090
3.500%   12/01/37     142   133,125
3.500%   08/01/39     160   151,090
3.500%   02/01/40     166   154,949
3.500%   02/01/40     477   445,700
3.500%   10/01/41     922   850,245
3.500%   01/01/42     50   46,365
3.500%   04/01/42     21   19,048
3.500%   04/01/42     53   48,906
3.500%   04/01/42     87   79,479
3.500%   05/01/42     8   7,015
3.500%   05/01/42     115   106,103
3.500%   06/01/42     9   8,062
3.500%   06/01/42     11   10,514
3.500%   07/01/42     27   24,435
3.500%   07/01/42     209   192,738
3.500%   09/01/42     217   198,897
3.500%   09/01/42     335   307,915
 
A54
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.500%   09/01/42     1,721   $1,582,387
3.500%   12/01/42     123   113,055
3.500%   01/01/43     1,101   1,006,961
3.500%   03/01/43     806   743,679
3.500%   04/01/43     767   706,407
3.500%   04/01/43     803   739,383
3.500%   06/01/43     787   723,840
3.500%   06/01/43     837   769,355
3.500%   07/01/43     1,006   926,395
3.500%   08/01/43     2,167   2,004,530
3.500%   02/01/45     145   133,392
3.500%   02/01/45     462   425,541
3.500%   01/01/46     179   162,908
3.500%   01/01/46     212   194,511
3.500%   03/01/46     179   162,284
3.500%   07/01/46     63   56,704
3.500%   12/01/46     356   324,159
3.500%   02/01/47     213   194,328
3.500%   03/01/47     52   47,367
3.500%   04/01/47     1,139   1,038,453
3.500%   05/01/47     270   247,226
3.500%   07/01/47     30   27,161
3.500%   11/01/47     351   320,425
3.500%   12/01/47     1,229   1,120,782
3.500%   01/01/48     213   194,107
3.500%   01/01/48     438   400,244
3.500%   02/01/48     162   147,260
3.500%   02/01/48     2,748   2,518,412
3.500%   04/01/48     74   68,019
3.500%   08/01/48     750   682,917
3.500%   11/01/48     1,393   1,270,829
3.500%   12/01/48     174   158,850
3.500%   06/01/49     1,205   1,109,466
3.500%   07/01/49     155   140,123
3.500%   06/01/50     54   49,349
3.500%   07/01/50     428   389,023
3.500%   08/01/50     160   145,462
3.500%   08/01/50     163   148,253
3.500%   08/01/50     812   745,133
3.500%   01/01/51     520   471,259
3.500%   06/01/51     760   681,740
3.500%   11/01/51     1,690   1,518,156
3.500%   12/01/51     80   72,911
3.500%   12/01/51     391   350,265
3.500%   01/01/52     90   80,461
3.500%   01/01/52     334   299,914
3.500%   01/01/52     420   381,018
3.500%   03/01/52     1,320   1,197,593
3.500%   04/01/52     535   478,801
3.500%   04/01/52     602   539,370
3.500%   04/01/52     2,544   2,303,885
3.500%   05/01/52     701   635,365
3.500%   05/01/52     2,109   1,888,611
3.500%   06/01/52     552   494,216
3.500%   07/01/52     6,712   6,010,665
3.520%   06/01/32     100   92,303
3.520%   11/01/32     1,715   1,570,875
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.880%   07/01/32     98   $92,498
4.000%   05/01/29     1   830
4.000%   10/01/30     6   5,633
4.000%   10/01/31     110   106,947
4.000%   04/01/33     174   169,223
4.000%   06/01/33     140   137,169
4.000%   09/01/33     59   58,240
4.000%   09/01/33     1,121   1,093,194
4.000%   10/01/33     173   169,543
4.000%   11/01/33     1,163   1,145,105
4.000%   02/01/34     76   74,723
4.000%   03/01/34     39   37,715
4.000%   03/01/34     41   39,713
4.000%   01/01/36     192   184,767
4.000%   07/01/37     27   25,928
4.000%   09/01/37     33   31,810
4.000%   03/01/38     23   21,953
4.000%   09/01/40     166   157,618
4.000%   10/01/40     427   404,482
4.000%   12/01/41     130   123,587
4.000%   01/01/42     553   523,888
4.000%   04/01/42     42   39,987
4.000%   04/01/42     46   43,849
4.000%   05/01/42     60   56,974
4.000%   05/01/42     258   244,055
4.000%   07/01/42     472   446,902
4.000%   10/01/42     255   241,390
4.000%   11/01/42     465   441,228
4.000%   12/01/42     42   40,034
4.000%   12/01/42     223   210,887
4.000%   04/01/43     48   46,026
4.000%   06/01/43     15   14,536
4.000%   06/01/43     20   18,953
4.000%   06/01/43     20   19,260
4.000%   06/01/43     32   30,427
4.000%   06/01/43     35   33,751
4.000%   06/01/43     40   37,706
4.000%   06/01/43     43   41,456
4.000%   06/01/43     44   41,796
4.000%   06/01/43     47   44,630
4.000%   06/01/43     47   44,906
4.000%   06/01/43     50   47,619
4.000%   06/01/43     57   54,384
4.000%   06/01/43     122   115,130
4.000%   06/01/43     129   123,745
4.000%   07/01/43     36   34,058
4.000%   07/01/43     123   116,829
4.000%   07/01/43     185   176,985
4.000%   07/01/43     189   179,248
4.000%   01/01/44     278   266,191
4.000%   04/01/44     549   519,037
4.000%   12/01/44     90   85,285
4.000%   01/01/45     316   299,389
4.000%   02/01/45     909   870,639
4.000%   03/01/45     48   45,449
4.000%   12/01/45     738   698,678
4.000%   03/01/46     273   258,354
 
A55
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.000%   02/01/47     135   $128,250
4.000%   04/01/47     297   281,231
4.000%   07/01/47     121   114,334
4.000%   07/01/47     530   501,713
4.000%   08/01/47     229   216,733
4.000%   09/01/47     166   157,000
4.000%   10/01/47     610   578,199
4.000%   11/01/47     155   147,167
4.000%   12/01/47     43   40,818
4.000%   05/01/48     285   267,958
4.000%   06/01/48     63   59,156
4.000%   06/01/48     460   433,173
4.000%   06/01/48     3,171   2,999,411
4.000%   07/01/48     2,096   1,977,683
4.000%   08/01/48     42   39,822
4.000%   08/01/48     61   57,423
4.000%   08/01/48     186   176,028
4.000%   09/01/48     101   94,849
4.000%   09/01/48     151   142,245
4.000%   09/01/48     5,418   5,111,854
4.000%   10/01/48     252   236,874
4.000%   11/01/48     58   54,137
4.000%   11/01/48     128   121,182
4.000%   12/01/48     15   13,736
4.000%   12/01/48     741   698,200
4.000%   12/01/48     2,944   2,764,285
4.000%   01/01/49     236   223,638
4.000%   01/01/49     352   333,354
4.000%   03/01/49     274   258,221
4.000%   03/01/49     5,772   5,434,550
4.000%   04/01/49     209   196,782
4.000%   04/01/49     3,442   3,229,267
4.000%   08/01/49     122   115,564
4.000%   01/01/50     462   433,429
4.000%   02/01/50     27   25,500
4.000%   04/01/50     2,410   2,264,830
4.000%   05/01/50     481   449,400
4.000%   01/01/51     59   56,470
4.000%   01/01/51     90   85,815
4.000%   01/01/51     98   93,830
4.000%   08/01/51     355   336,484
4.000%   04/01/52     691   644,421
4.000%   06/01/52     1,532   1,424,101
4.000%   10/01/52     458   425,149
4.000%   02/01/56     1,374   1,278,968
4.000%   06/01/57     38   35,325
4.030%   06/01/28     1,212   1,176,288
4.060%   07/01/32     98   93,698
4.190%   04/01/28     1,525   1,491,903
4.370%   05/01/28     572   564,966
4.410%   04/01/30     1,065   1,045,201
4.420%   04/01/33     99   96,653
4.460%   05/01/28     1,429   1,410,830
4.500%   TBA     25,703   24,474,972
4.500%   08/01/24     —(r)   57
4.500%   09/01/24     —(r)   37
4.500%   12/01/24     1   529
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.500%   02/01/25     —(r)   $196
4.500%   03/01/25     1   1,008
4.500%   04/01/25     —(r)   125
4.500%   04/01/25     —(r)   129
4.500%   04/01/25     —(r)   181
4.500%   04/01/25     1   1,061
4.500%   04/01/25     2   2,111
4.500%   05/01/25     —(r)   126
4.500%   05/01/25     —(r)   165
4.500%   07/01/25     3   3,367
4.500%   09/01/25     —(r)   487
4.500%   04/01/31     7   7,238
4.500%   05/01/31     25   24,556
4.500%   06/01/31     9   8,595
4.500%   11/01/31     11   11,013
4.500%   12/01/31     25   24,291
4.500%   12/01/31     98   96,728
4.500%   11/01/35     10   9,711
4.500%   12/01/37     1,130   1,121,498
4.500%   04/01/39     2   1,963
4.500%   04/01/39     3   3,020
4.500%   05/01/39     181   177,412
4.500%   06/01/39     7   6,622
4.500%   06/01/39     14   14,135
4.500%   08/01/39     26   25,971
4.500%   12/01/39     4   3,699
4.500%   06/01/40     26   25,198
4.500%   07/01/40     60   59,183
4.500%   08/01/40     16   15,817
4.500%   08/01/40     18   17,261
4.500%   12/01/40     293   287,618
4.500%   01/01/41     26   25,235
4.500%   02/01/41     22   21,841
4.500%   03/01/41     8   8,098
4.500%   04/01/41     1   900
4.500%   05/01/41     2   2,330
4.500%   05/01/41     3   2,763
4.500%   07/01/41     5   4,895
4.500%   07/01/41     25   24,819
4.500%   08/01/41     73   72,026
4.500%   09/01/41     23   22,923
4.500%   09/01/41     68   66,502
4.500%   10/01/41     5   5,394
4.500%   10/01/41     21   20,277
4.500%   10/01/41     42   41,175
4.500%   10/01/41     50   48,952
4.500%   10/01/41     156   152,623
4.500%   12/01/41     50   48,754
4.500%   01/01/42     6   5,463
4.500%   06/01/42     12   11,763
4.500%   09/01/42     20   19,558
4.500%   09/01/42     169   165,681
4.500%   11/01/42     33   32,585
4.500%   09/01/43     16   15,413
4.500%   09/01/43     32   31,435
4.500%   09/01/43     171   165,872
4.500%   10/01/43     85   83,008
 
A56
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.500%   10/01/43     126   $122,011
4.500%   10/01/43     244   238,377
4.500%   11/01/43     85   82,324
4.500%   11/01/43     632   616,928
4.500%   12/01/43     117   113,491
4.500%   01/01/44     57   55,426
4.500%   01/01/44     68   66,136
4.500%   01/01/44     74   72,502
4.500%   01/01/44     90   87,939
4.500%   02/01/44     24   23,612
4.500%   02/01/44     140   136,610
4.500%   02/01/44     294   286,693
4.500%   03/01/44     28   27,498
4.500%   03/01/44     77   75,121
4.500%   03/01/44     351   341,217
4.500%   04/01/44     16   15,718
4.500%   04/01/44     39   38,077
4.500%   04/01/44     44   43,012
4.500%   04/01/44     156   151,961
4.500%   04/01/44     232   227,369
4.500%   05/01/44     75   72,941
4.500%   01/01/45     46   44,966
4.500%   01/01/45     264   257,594
4.500%   05/01/45     226   220,227
4.500%   07/01/45     259   253,221
4.500%   09/01/45     71   70,026
4.500%   11/01/45     9   8,457
4.500%   11/01/45     70   68,716
4.500%   11/01/45     386   376,754
4.500%   12/01/45     127   123,697
4.500%   07/01/46     847   831,511
4.500%   08/01/46     171   167,555
4.500%   01/01/47     30   28,704
4.500%   03/01/47     158   153,530
4.500%   05/01/47     471   458,085
4.500%   07/01/47     64   62,306
4.500%   09/01/47     15   14,189
4.500%   10/01/47     18   17,017
4.500%   10/01/47     73   70,637
4.500%   11/01/47     12   11,236
4.500%   11/01/47     34   33,291
4.500%   11/01/47     228   221,426
4.500%   11/01/47     295   287,050
4.500%   11/01/47     528   512,942
4.500%   12/01/47     19   18,629
4.500%   12/01/47     62   60,119
4.500%   01/01/48     515   500,464
4.500%   02/01/48     28   27,487
4.500%   03/01/48     22   21,285
4.500%   03/01/48     29   28,587
4.500%   04/01/48     130   127,364
4.500%   05/01/48     29   28,277
4.500%   05/01/48     652   639,043
4.500%   05/01/48     1,714   1,669,211
4.500%   06/01/48     34   32,953
4.500%   06/01/48     85   82,873
4.500%   07/01/48     12   11,296
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.500%   07/01/48     65   $63,744
4.500%   07/01/48     69   67,900
4.500%   08/01/48     407   395,561
4.500%   11/01/48     263   258,142
4.500%   11/01/48     326   316,093
4.500%   02/01/49     797   782,580
4.500%   07/01/49     97   93,447
4.500%   10/01/49     58   55,742
4.500%   01/01/50     465   456,286
4.500%   03/01/50     177   172,836
4.500%   05/01/50     197   189,461
4.500%   09/01/51     134   128,809
4.500%   09/01/52     363   346,979
4.500%   09/01/52     884   841,694
4.500%   10/01/52     915   871,125
4.500%   11/01/52     27,608   26,289,396
4.500%   03/01/53     2,543   2,421,970
4.500%   09/01/57     124   118,901
4.500%   08/01/58     43   40,803
4.680%   07/01/33     100   99,724
4.750%   04/01/28     475   473,463
5.000%   TBA(tt)     4,000   3,993,857
5.000%   TBA     4,070   3,970,949
5.000%   03/01/36     3   2,552
5.000%   12/01/36     1   766
5.000%   12/01/37     2,702   2,698,013
5.000%   01/01/39     6   6,374
5.000%   12/01/39     3   2,715
5.000%   01/01/40     2   1,655
5.000%   05/01/40     2   2,107
5.000%   05/01/40     10   9,681
5.000%   07/01/40     10   9,759
5.000%   11/01/40     191   190,182
5.000%   01/01/41     9   9,171
5.000%   01/01/41     20   19,757
5.000%   04/01/41     3   3,103
5.000%   05/01/41     2   1,548
5.000%   05/01/41     32   31,597
5.000%   05/01/41     55   54,470
5.000%   05/01/41     59   58,963
5.000%   05/01/41     90   89,302
5.000%   06/01/41     41   40,389
5.000%   07/01/41     574   572,237
5.000%   01/01/42     5   4,709
5.000%   12/01/43     1,074   1,071,033
5.000%   12/01/47     175   175,820
5.000%   09/01/48     190   189,048
5.000%   01/01/49     209   207,457
5.000%   01/01/49     298   295,424
5.000%   06/01/49     865   856,872
5.000%   08/01/49     238   236,829
5.000%   12/01/49     1,560   1,541,072
5.000%   06/01/52     84   82,810
5.000%   06/01/52     88   86,521
5.000%   07/01/52     249   244,756
5.000%   07/01/52     516   515,304
5.000%   09/01/52     2,910   2,840,532
 
A57
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
5.000%   09/01/52     6,314   $6,165,002
5.000%   10/01/52     369   361,252
5.000%   10/01/52     1,409   1,376,099
5.000%   10/01/52     2,629   2,567,725
5.000%   11/01/52     348   339,881
5.000%   01/01/53     284   277,632
5.000%   02/01/53     281   275,163
5.000%   06/01/53     96   94,429
5.000%   07/01/53     654   650,950
5.065%   12/01/28     1,950   1,975,882
5.350%   07/01/33     100   102,881
5.500%   TBA(tt)     62,180   61,871,355
5.500%   04/01/24     —(r)   17
5.500%   06/01/24     —(r)   3
5.500%   07/01/28     2   2,473
5.500%   11/01/28     7   6,745
5.500%   04/01/30     3   3,273
5.500%   12/01/30     —(r)   301
5.500%   11/01/32     —(r)   298
5.500%   12/01/32     1   757
5.500%   01/01/33     22   21,938
5.500%   01/01/33     31   31,711
5.500%   04/01/33     10   10,520
5.500%   06/01/33     1   571
5.500%   07/01/33     6   6,235
5.500%   09/01/33     6   6,248
5.500%   10/01/33     12   12,515
5.500%   11/01/33     1   865
5.500%   11/01/33     1   1,063
5.500%   11/01/33     6   6,128
5.500%   11/01/33     6   6,154
5.500%   12/01/33     1   1,504
5.500%   12/01/33     7   7,309
5.500%   01/01/34     —(r)   433
5.500%   02/01/34     1   533
5.500%   02/01/34     12   11,779
5.500%   03/01/34     1   1,452
5.500%   03/01/34     8   8,657
5.500%   04/01/34     1   909
5.500%   09/01/34     5   4,983
5.500%   12/01/34     1   521
5.500%   12/01/34     2   1,779
5.500%   12/01/34     5   4,861
5.500%   02/01/35     —(r)   192
5.500%   03/01/35     11   11,336
5.500%   04/01/35     1   586
5.500%   05/01/35     2   1,866
5.500%   05/01/35     4   3,579
5.500%   10/01/35     6   5,912
5.500%   11/01/35     —(r)   126
5.500%   12/01/35     6   6,435
5.500%   12/01/35     6   6,445
5.500%   01/01/36     1   574
5.500%   03/01/36     3   3,048
5.500%   07/01/36     3   2,796
5.500%   11/01/36     2   2,211
5.500%   01/01/37     9   9,229
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
5.500%   02/01/37     8   $8,001
5.500%   06/01/37     3   2,780
5.500%   08/01/37     1   588
5.500%   08/01/37     1   912
5.500%   08/01/37     4   4,534
5.500%   08/01/37     7   7,298
5.500%   03/01/38     9   8,970
5.500%   08/01/38     101   103,309
5.500%   12/01/38     3   3,359
5.500%   09/01/39     4   4,135
5.500%   12/01/39     63   64,704
5.500%   06/01/40     9   9,536
5.500%   05/01/44     393   400,970
5.500%   01/01/49     393   396,243
5.500%   09/01/49     395   398,576
5.500%   04/01/50     371   374,593
5.500%   08/01/52     82   81,288
5.500%   10/01/52     1,471   1,466,683
5.500%   11/01/52     554   552,792
5.500%   11/01/52     788   785,535
5.500%   11/01/52     1,245   1,242,181
5.500%   11/01/52     1,829   1,825,342
5.500%   12/01/52     4,641   4,631,476
5.500%   02/01/53     477   479,167
5.500%   04/01/53     190   189,907
5.500%   04/01/53     375   373,859
5.500%   05/01/53     193   193,666
5.500%   05/01/53     278   277,171
5.500%   05/01/53     378   377,388
5.500%   06/01/53     2,471   2,462,226
5.500%   07/01/53     191   191,020
5.500%   08/01/53     591   592,731
5.500%   08/01/53     655   651,647
5.500%   09/01/53     1,238   1,235,481
5.500%   09/01/53     1,744   1,737,281
5.500%   11/01/53     6,964   6,929,325
5.500%   03/01/54     390   388,012
5.500%   09/01/56     1,259   1,296,300
6.000%   TBA     50,565   51,015,465
6.000%   TBA     118,090   119,165,085
6.000%   11/01/28     —(r)   364
6.000%   02/01/29     —(r)   286
6.000%   03/01/32     —(r)   416
6.000%   05/01/33     —(r)   183
6.000%   01/01/34     9   9,463
6.000%   11/01/35     4   4,071
6.000%   12/01/35     2   1,679
6.000%   04/01/36     3   2,760
6.000%   07/01/36     1   1,471
6.000%   08/01/36     —(r)   27
6.000%   08/01/36     1   1,510
6.000%   08/01/36     9   8,927
6.000%   09/01/36     —(r)   93
6.000%   09/01/36     —(r)   306
6.000%   09/01/36     1   560
6.000%   09/01/36     1   836
6.000%   09/01/36     8   8,199
 
A58
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
6.000%   10/01/36     1   $645
6.000%   10/01/36     4   4,220
6.000%   10/01/36     9   8,849
6.000%   11/01/36     —(r)   99
6.000%   11/01/36     1   991
6.000%   11/01/36     2   1,835
6.000%   11/01/36     6   6,257
6.000%   11/01/36     7   7,212
6.000%   12/01/36     —(r)   131
6.000%   12/01/36     —(r)   217
6.000%   12/01/36     —(r)   419
6.000%   12/01/36     2   2,165
6.000%   12/01/36     4   4,201
6.000%   12/01/36     9   8,934
6.000%   01/01/37     —(r)   358
6.000%   01/01/37     1   523
6.000%   01/01/37     3   2,990
6.000%   01/01/37     6   5,819
6.000%   01/01/37     9   9,025
6.000%   01/01/37     677   701,300
6.000%   02/01/37     8   7,794
6.000%   02/01/37     131   135,696
6.000%   03/01/37     8   8,076
6.000%   03/01/37     12   12,251
6.000%   03/01/37     69   70,324
6.000%   05/01/37     1   1,375
6.000%   05/01/37     6   6,283
6.000%   05/01/37     8   8,497
6.000%   06/01/37     1   728
6.000%   08/01/37     1   1,099
6.000%   08/01/37     3   3,550
6.000%   08/01/37     4   4,632
6.000%   08/01/37     13   13,958
6.000%   09/01/37     14   14,084
6.000%   10/01/37     —(r)   213
6.000%   07/01/41     426   441,708
6.000%   12/01/52     698   706,534
6.000%   01/01/53     170   172,878
6.000%   01/01/53     2,912   2,940,847
6.000%   03/01/53     94   94,927
6.000%   04/01/53     91   92,180
6.000%   05/01/53     465   472,115
6.000%   05/01/53     1,476   1,510,779
6.000%   06/01/53     91   92,544
6.000%   06/01/53     567   578,583
6.000%   07/01/53     283   291,143
6.000%   07/01/53     754   765,237
6.000%   11/01/53     98   99,057
6.500%   TBA     100   102,162
6.500%   10/01/36     319   330,841
6.500%   05/01/40     885   923,187
6.500%   02/01/53     74   75,889
6.500%   02/01/53     84   86,048
6.500%   11/01/53     2,562   2,635,854
6.500%   12/01/53     285   293,386
6.500%   03/01/54     300   307,958
6.500%   03/01/54     400   411,345
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
6.625%   11/15/30     1,950   $2,204,234
7.000%   TBA     11,895   12,249,157
7.000%   04/01/37     55   56,671
7.000%   02/01/39     133   141,056
7.000%   02/01/39     188   197,864
7.000%   09/01/53     5,177   5,337,089
Freddie Mac Coupon Strips
3.220%(s)   07/15/32     180   121,862
Government National Mortgage Assoc.
2.000%   TBA(tt)     33,320   27,292,839
2.000%   08/20/50     60   49,333
2.000%   10/20/50     5,562   4,561,067
2.000%   12/20/50     5,653   4,636,091
2.000%   01/20/51     5,355   4,390,394
2.000%   02/20/51     5,070   4,154,986
2.000%   03/20/51     1,128   901,963
2.000%   10/20/51     1,116   913,990
2.000%   11/20/51     496   406,305
2.500%   TBA     95   80,904
2.500%   11/20/49     1,999   1,711,613
2.500%   09/20/50     260   222,397
2.500%   10/20/50     1,196   1,020,665
2.500%   11/20/50     910   776,621
2.500%   12/20/50     139   115,974
2.500%   12/20/50     5,687   4,854,314
2.500%   01/20/51     178   151,448
2.500%   03/20/51     2,126   1,813,792
2.500%   04/20/51     3,965   3,380,041
2.500%   05/20/51(k)     4,788   4,082,088
2.500%   06/20/51     320   269,362
2.500%   07/20/51     78   66,585
2.500%   07/20/51     2,420   2,063,158
2.500%   08/20/51     555   467,745
2.500%   08/20/51     2,036   1,735,409
2.500%   09/20/51     2,552   2,174,702
2.500%   10/20/51     405   341,082
2.500%   10/20/51     496   417,444
2.500%   10/20/51     1,232   1,037,827
2.500%   11/20/51     255   214,667
2.500%   11/20/51     733   624,220
2.500%   12/20/51     248   208,875
2.500%   12/20/51     429   361,033
2.500%   12/20/51     497   420,140
2.500%   08/20/52     346   295,073
2.500%   12/20/52     180   153,003
3.000%   TBA     100   88,177
3.000%   02/20/42     18   16,061
3.000%   09/15/42     383   345,801
3.000%   09/15/42     423   382,883
3.000%   10/15/42     481   428,654
3.000%   10/15/42     1,249   1,128,288
3.000%   11/15/42     1   1,188
3.000%   11/15/42     617   550,037
3.000%   12/20/44     19   16,957
3.000%   02/15/45     185   167,486
3.000%   01/20/46     66   59,182
3.000%   11/20/46     217   194,400
 
A59
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.000%   02/20/47     100   $89,465
3.000%   04/20/47     33   29,574
3.000%   01/20/50     1,229   1,092,729
3.000%   02/20/50     108   95,853
3.000%   03/20/50     44   37,344
3.000%   09/20/50     315   279,258
3.000%   01/20/51     9,967   8,788,640
3.000%   02/20/51     98   86,759
3.000%   04/20/51     7,651   6,766,501
3.000%   05/20/51     634   558,597
3.000%   08/20/51     10,599   9,345,341
3.000%   09/20/51     2,980   2,630,889
3.000%   10/20/51     897   790,964
3.000%   01/20/52     751   658,652
3.000%   03/20/52     91   78,952
3.000%   03/20/52     379   331,920
3.000%   03/20/52     794   693,057
3.000%   04/20/52     83   72,309
3.000%   04/20/52     525   450,888
3.000%   04/20/52     712   614,176
3.000%   07/20/52     3,616   3,188,203
3.000%   12/20/52     192   169,580
3.000%   04/20/53     91   80,405
3.500%   TBA     13,096   11,915,754
3.500%   09/15/41     21   19,136
3.500%   11/15/41     2   1,576
3.500%   11/15/41     14   13,145
3.500%   01/15/42     5   4,509
3.500%   01/15/42     83   77,892
3.500%   02/15/42     14   13,149
3.500%   03/15/42     5   4,950
3.500%   03/15/42     49   45,410
3.500%   05/15/42     16   14,602
3.500%   06/15/42     10   9,423
3.500%   07/15/42     8   7,753
3.500%   07/15/42     9   8,692
3.500%   07/15/42     20   18,923
3.500%   07/15/42     22   20,657
3.500%   08/15/42     11   10,049
3.500%   01/15/43     9   8,371
3.500%   02/15/43     15   14,012
3.500%   04/15/43     20   18,376
3.500%   04/15/43     106   98,498
3.500%   04/20/43     218   202,641
3.500%   05/15/43     5   5,120
3.500%   05/15/43     7   6,851
3.500%   05/15/43     8   7,203
3.500%   05/15/43     34   31,359
3.500%   05/20/43     577   536,479
3.500%   07/15/43     54   50,114
3.500%   10/15/43     31   29,197
3.500%   11/15/43     6   5,609
3.500%   12/15/43     82   76,406
3.500%   01/15/44     23   21,411
3.500%   02/20/44     769   713,491
3.500%   06/20/44     79   73,030
3.500%   03/20/45     90   83,058
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
3.500%   04/20/45     150   $139,099
3.500%   05/20/45     74   68,511
3.500%   07/20/45     29   26,853
3.500%   08/20/45     39   36,075
3.500%   10/20/45     63   57,761
3.500%   11/20/45     151   139,445
3.500%   12/20/45     326   300,921
3.500%   01/20/46     70   64,546
3.500%   01/20/46     154   142,223
3.500%   03/20/46     792   728,434
3.500%   04/20/46     406   374,946
3.500%   05/20/46     323   298,796
3.500%   06/20/46     322   297,601
3.500%   07/20/46     473   437,312
3.500%   09/20/46     14   12,752
3.500%   09/20/46     299   275,142
3.500%   10/20/46     62   56,717
3.500%   10/20/46     68   62,451
3.500%   10/20/46     85   78,014
3.500%   10/20/46     123   113,540
3.500%   05/20/47     130   120,201
3.500%   09/20/47     1,245   1,146,355
3.500%   03/20/48     32   29,495
3.500%   04/20/48     13   11,881
3.500%   06/15/48     227   211,887
3.500%   08/20/48     609   560,925
3.500%   09/20/48     1,153   1,061,593
3.500%   11/20/48     373   342,848
3.500%   02/20/49     1,173   1,079,771
3.500%   08/20/49     4,413   4,058,747
3.500%   05/15/50     263   243,846
3.500%   06/20/50     2,311   2,105,060
3.500%   08/20/50     323   296,356
3.500%   11/20/50     1,563   1,433,432
3.500%   04/20/51     963   881,833
3.500%   09/20/51     635   580,237
3.500%   01/20/52     204   185,332
3.500%   02/20/52     5,814   5,289,429
3.500%   03/20/52     362   325,797
3.500%   07/20/52     653   593,667
3.500%   12/20/52     1,881   1,711,214
4.000%   TBA     1,300   1,216,396
4.000%   04/20/39     13   12,023
4.000%   07/20/39     109   105,113
4.000%   01/20/40     69   66,677
4.000%   10/20/40     171   164,325
4.000%   12/20/40     687   660,886
4.000%   01/20/41     25   24,135
4.000%   02/20/41     75   72,123
4.000%   03/15/41     94   90,137
4.000%   12/20/46     270   256,515
4.000%   05/20/47     104   98,327
4.000%   06/20/47     800   760,067
4.000%   07/20/47     188   178,211
4.000%   09/20/47     1,136   1,077,137
4.000%   11/20/47     296   281,196
4.000%   12/20/47     270   256,285
 
A60
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.000%   01/20/48     811   $768,209
4.000%   03/20/48     680   644,753
4.000%   05/20/48     106   100,549
4.000%   02/20/49     437   413,903
4.000%   03/20/49     111   105,167
4.000%   04/20/49     97   91,556
4.000%   10/20/49     115   108,637
4.000%   11/20/49     814   761,602
4.000%   01/20/50     98   94,132
4.000%   02/20/50     86   81,936
4.000%   05/20/50     42   40,105
4.000%   06/20/52     177   165,979
4.000%   06/20/52     183   172,262
4.000%   06/20/52     2,466   2,307,298
4.000%   07/20/52     1,891   1,768,657
4.000%   08/20/52     138   129,115
4.500%   TBA     1,520   1,460,460
4.500%   12/20/39     11   11,117
4.500%   01/20/40     142   139,580
4.500%   02/20/40     11   11,089
4.500%   05/20/40     409   403,631
4.500%   07/20/40     5   4,481
4.500%   09/20/40     5   4,835
4.500%   09/20/40     6   5,912
4.500%   10/20/40     8   8,315
4.500%   12/20/40     190   187,136
4.500%   01/20/41     31   30,085
4.500%   07/20/41     41   39,763
4.500%   07/20/41     197   194,275
4.500%   02/20/42     223   219,398
4.500%   11/20/46     46   45,511
4.500%   03/15/47     70   67,959
4.500%   04/15/47     56   55,003
4.500%   04/15/47     82   79,801
4.500%   05/15/47     60   59,066
4.500%   08/20/47     307   299,275
4.500%   04/20/48     456   444,236
4.500%   05/20/48     18   17,411
4.500%   06/20/48     491   478,063
4.500%   07/20/48     124   120,224
4.500%   08/20/48     322   313,141
4.500%   09/20/48     94   91,701
4.500%   10/20/48     312   303,785
4.500%   12/20/48     143   139,131
4.500%   01/20/49     365   355,610
4.500%   02/20/49     263   255,884
4.500%   03/20/49     932   906,921
4.500%   04/20/49     46   44,866
4.500%   05/20/49     61   59,554
4.500%   02/20/50     192   186,527
4.500%   03/20/50     126   122,567
4.500%   08/20/50     196   190,595
4.500%   11/20/50     399   383,667
4.500%   12/20/50     189   183,725
4.500%   05/20/52     337   323,878
4.500%   08/20/52     91   87,899
4.500%   08/20/52     960   922,752
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
4.500%   09/20/52     636   $613,991
4.500%   09/20/52     853   820,305
4.500%   10/20/52     3,857   3,708,016
5.000%   TBA     4,785   4,702,491
5.000%   04/15/38     26   25,848
5.000%   08/15/38     57   57,432
5.000%   10/15/38     4   4,510
5.000%   10/15/38     179   181,326
5.000%   12/15/38     74   75,105
5.000%   01/15/39     25   25,605
5.000%   02/15/39     45   45,150
5.000%   02/15/39     49   49,313
5.000%   03/15/39     234   236,196
5.000%   05/15/39     63   62,935
5.000%   05/15/39     209   211,181
5.000%   11/15/39     97   98,330
5.000%   04/15/40     930   932,654
5.000%   05/15/40     53   53,505
5.000%   05/20/40     877   883,902
5.000%   06/20/40     695   700,037
5.000%   07/20/40     15   14,915
5.000%   07/20/40     296   298,460
5.000%   09/15/40     245   247,338
5.000%   09/20/40     80   80,687
5.000%   11/20/40     68   68,965
5.000%   10/20/47     19   18,578
5.000%   05/20/48     63   62,854
5.000%   10/20/48     398   397,067
5.000%   11/20/48     130   129,856
5.000%   12/20/48     184   183,036
5.000%   01/20/49     602   598,745
5.000%   04/20/49     187   185,976
5.000%   09/20/49     104   103,332
5.000%   11/20/49     93   93,032
5.000%   01/20/50     123   122,280
5.000%   08/20/52     631   620,933
5.000%   09/20/52     91   89,260
5.000%   09/20/52     186   185,220
5.000%   10/20/52     458   450,955
5.000%   11/20/52     742   729,791
5.000%   12/20/52     2,047   2,012,690
5.000%   01/20/53     463   457,954
5.000%   05/20/53     285   280,463
5.000%   08/20/53     291   286,838
5.000%   08/20/53     1,058   1,044,970
5.500%   TBA     19,300   19,281,874
5.500%   06/15/36     14   13,988
5.500%   11/20/52     908   907,898
5.500%   02/20/53     285   287,649
5.500%   03/20/53     560   559,866
5.500%   04/20/53     1,886   1,884,316
5.500%   07/20/53     98   98,394
5.500%   07/20/53     291   293,926
5.500%   08/20/53     490   492,691
5.500%   08/20/53     1,376   1,389,621
6.000%   TBA     200   201,748
6.000%   08/20/40     21   21,374
 
A61
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations (continued)
6.000%   01/20/41     8   $8,085
6.000%   04/20/41     1   1,278
6.000%   06/20/41     27   27,948
6.000%   07/20/41     24   24,737
6.000%   12/20/41     11   11,069
6.000%   02/20/42     11   10,970
6.000%   09/20/53     1,439   1,463,594
6.000%   01/20/54     592   601,742
6.500%   TBA     10,000   10,156,963
6.500%   10/20/37     123   129,726
6.500%   09/20/53     195   198,443
6.500%   11/20/53     199   204,458
6.500%   01/20/54     599   612,409
Government National Mortgage Assoc., 1 Month RFUCCT + 1.633% (Cap 11.885%, Floor 1.633%)
7.114%(c)   11/20/60     335   340,369
Government National Mortgage Assoc., 1 Month RFUCCT + 1.735% (Cap 12.057%, Floor 1.735%)
7.186%(c)   07/20/60     533   540,432
Government National Mortgage Assoc., 1 Month RFUCCT + 2.082% (Cap 12.368%, Floor 2.082%)
7.533%(c)   09/20/60     487   487,428
Government National Mortgage Assoc., 1 Month RFUCCT + 2.400% (Cap 12.644%, Floor 2.400%)
7.851%(c)   04/20/60     573   589,037
Resolution Funding Corp. Principal Strips
3.479%(s)   04/15/30     55   41,725
Tennessee Valley Authority, Sr. Unsec’d. Notes
4.875%   01/15/48     1,031   1,017,705
5.250%   09/15/39     760   791,075
Tennessee Valley Authority Generic Strips
2.705%(s)   09/15/30     492   359,705
2.897%(s)   03/15/33     123   79,903
 
Total U.S. Government Agency Obligations

(cost $1,422,800,344)
  1,348,447,184
U.S. Treasury Obligations — 10.9%
U.S. Treasury Bonds
1.250%   05/15/50     12,610   6,454,744
1.875%   11/15/51(kk)     34,685   20,800,161
2.000%   11/15/41(h)(k)     36,130   25,347,453
2.000%   02/15/50     8   5,013
2.000%   08/15/51     10,020   6,210,834
2.375%   05/15/51     18,375   12,483,516
2.500%   02/15/45(k)     28,667   20,967,223
2.750%   08/15/47     9,070   6,788,328
2.750%   11/15/47     11,102   8,296,711
3.000%   02/15/48     24,352   19,051,635
3.000%   02/15/49     20,045   15,628,836
3.625%   05/15/53     6,470   5,688,545
4.125%   08/15/53     1,510   1,452,431
4.250%   02/15/54     2,000   1,968,438
4.375%   08/15/43     34,390   34,003,113
4.500%   02/15/44     190   191,128
4.750%   11/15/43     5,080   5,272,881
4.750%   11/15/53     7,280   7,775,950
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Treasury Obligations (continued)
U.S. Treasury Inflation Indexed Bonds, TIPS
0.250%   02/15/50     15,919   $10,064,491
1.125%   01/15/33     6,088   5,716,743
1.375%   07/15/33     10,287   9,882,610
1.500%   02/15/53     104   90,719
U.S. Treasury Notes
0.625%   05/15/30     34,145   27,577,423
1.250%   08/15/31     40   32,594
1.875%   02/15/32     31,995   27,030,776
3.375%   05/15/33(a)     11,710   10,974,466
3.750%   12/31/28     24,260   23,750,161
3.875%   12/31/29     37,540   36,865,453
4.000%   01/31/31     11,030   10,888,678
4.000%   02/15/34     840   826,350
4.250%   02/28/29     520   520,853
4.250%   02/28/31     5,090   5,100,339
4.375%   11/30/30     4,600   4,638,813
4.500%   03/31/26     38,945   38,854,483
4.625%   02/28/26     200   199,859
5.000%   09/30/25     10   10,025
U.S. Treasury Strips Coupon
1.497%(s)   08/15/41     4,494   2,012,996
2.380%(s)   02/15/42(h)     40,000   17,464,062
2.384%(s)   02/15/43     5,925   2,465,355
3.930%(s)   02/15/41     1,150   529,135
 
Total U.S. Treasury Obligations

(cost $476,582,069)
  433,883,324
    
      Shares  
Unaffiliated Exchange-Traded Funds — 3.1%
iShares Core U.S. Aggregate Bond ETF
624,175 61,131,699
Vanguard Total Bond Market ETF
844,433 61,331,169
 
Total Unaffiliated Exchange-Traded Funds

(cost $132,331,481)
122,462,868
 
Total Long-Term Investments

(cost $4,482,684,349)
4,233,613,223
Short-Term Investments — 5.4%
Affiliated Mutual Funds — 3.5%
PGIM Core Government Money Market Fund (7-day effective yield 5.552%)(wb)
45,258,359 45,258,359
PGIM Institutional Money Market Fund (7-day effective yield 5.664%)

(cost $94,138,272; includes $93,588,515 of cash collateral for securities on loan)(b)(wb)
94,175,175 94,128,087
 
Total Affiliated Mutual Funds

(cost $139,396,631)
139,386,446
    
 
A62
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
U.S. Treasury Obligations(n) — 0.0%
U.S. Treasury Bills
5.313%   04/16/24     1,800   $1,796,048
5.300%   07/30/24     470   461,915
 
Total U.S. Treasury Obligations

(cost $2,257,998)
  2,257,963
    
      Shares  
Unaffiliated Fund — 1.9%
Dreyfus Government Cash Management (7-day effective yield 5.200%) (Institutional Shares)
74,144,186 74,144,186
(cost $74,144,186)    
Options Purchased*~ — 0.0%
(cost $380,071)
164,489
 
Total Short-Term Investments

(cost $216,178,886)
215,953,084
 
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN—112.1%

(cost $4,698,863,235)
4,449,566,307
Options Written*~ — (0.0)%
(premiums received $203,229)
(115,370)
 
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN—112.1%

(cost $4,698,660,006)
4,449,450,937
 
Liabilities in excess of other assets(z) — (12.1)%
(480,429,399)
 
Net Assets — 100.0%
$3,969,021,538
    
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
CNH Chinese Renminbi
EUR Euro
GBP British Pound
IDR Indonesian Rupiah
INR Indian Rupee
JPY Japanese Yen
MXN Mexican Peso
NOK Norwegian Krone
USD US Dollar
UYU Uruguayan Peso
    
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
Aces Alternative Credit Enhancements Securities
BABs Build America Bonds
BARC Barclays Bank PLC
BNP BNP Paribas S.A.
BNYM Bank of New York Mellon
BROIS Brazil Overnight Index Swap
CDX Credit Derivative Index
CF CF Secured, LLC
CITI Citibank, N.A.
CLO Collateralized Loan Obligation
CME Chicago Mercantile Exchange
DAC Designated Activity Company
EMTN Euro Medium Term Note
ETF Exchange-Traded Fund
EURIBOR Euro Interbank Offered Rate
FHLMC Federal Home Loan Mortgage Corporation
GMTN Global Medium Term Note
GSB Goldman Sachs Bank USA
iBoxx Bond Market Indices
IO Interest Only (Principal amount represents notional)
JPM JPMorgan Chase Bank N.A.
LIBOR London Interbank Offered Rate
LP Limited Partnership
M Monthly payment frequency for swaps
MASTR Morgan Stanley Structured Asset Security
MSCS Morgan Stanley Capital Services LLC
MTN Medium Term Note
OAT Obligations Assimilables du Tresor
OTC Over-the-counter
PO Principal Only
Q Quarterly payment frequency for swaps
REITs Real Estate Investment Trust
REMIC Real Estate Mortgage Investment Conduit
RFUCCT Refinitiv USD IBOR Consumer Cash Fallbacks Term
SOFR Secured Overnight Financing Rate
SONIA Sterling Overnight Index Average
SSB State Street Bank & Trust Company
STRIPs Separate Trading of Registered Interest and Principal of Securities
T Swap payment upon termination
TBA To Be Announced
TD The Toronto-Dominion Bank
TIPS Treasury Inflation-Protected Securities
TONAR Tokyo Overnight Average Rate
USOIS United States Overnight Index Swap
    
* 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. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments.
^ Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $6,256,488 and 0.2% 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 $91,965,973; cash collateral of $93,588,515 (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.
A63
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2024.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2024. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
(f) Indicates a restricted security that is 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; the aggregate original cost of such securities is $3,840,715. The aggregate value of $3,634,066 is 0.1% of net assets.
(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.
(kk) Represents security, or a portion thereof, segregated as collateral for TBA securities.
(n) Rate shown reflects yield to maturity at purchased date.
(oo) Perpetual security. Maturity date represents next call date.
(p) Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end.
(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.
(tt) All or partial principal amount represents “TBA” mortgage dollar rolls. The aggregate mortgage dollar roll principal amount of $111,937,000 is 2.8% of net assets.
(wb) Represents an investment in a Fund affiliated with the Manager.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
 
Forward Commitment Contracts:                      
U.S. Government Agency Obligations   Interest
Rate 		  Maturity
Date 		  Settlement
Date 		  Principal
Amount
(000)# 		Value
Federal National Mortgage Assoc.   1.500%   TBA   04/11/24     $(325)   $(244,630)
Federal National Mortgage Assoc.   2.000%   TBA   04/11/24     (3,000)   (2,372,963)
Federal National Mortgage Assoc.   2.000%   TBA   04/16/24     (2,375)   (2,104,359)
Federal National Mortgage Assoc.   2.500%   TBA(tt)   04/11/24     (200)   (165,292)
Federal National Mortgage Assoc.   3.000%   TBA   04/11/24     (18,669)   (16,059,282)
Federal National Mortgage Assoc.   3.500%   TBA   04/11/24     (13,618)   (12,186,440)
Federal National Mortgage Assoc.   4.000%   TBA   04/11/24     (6,094)   (5,643,054)
Federal National Mortgage Assoc.   4.500%   TBA   04/16/24     (755)   (743,288)
Federal National Mortgage Assoc.   4.500%   TBA   05/13/24     (3,500)   (3,334,282)
Federal National Mortgage Assoc.   5.000%   TBA   05/13/24     (4,000)   (3,903,903)
Federal National Mortgage Assoc.   6.000%   TBA   05/13/24     (500)   (504,454)
Federal National Mortgage Assoc.   6.500%   TBA   04/11/24     (15,035)   (15,360,029)
Federal National Mortgage Assoc.   7.000%   TBA   04/11/24     (5,175)   (5,333,930)
Government National Mortgage Assoc.   3.000%   TBA   04/18/24     (7,709)   (6,797,593)
Government National Mortgage Assoc.   4.000%   TBA   04/18/24     (3,380)   (3,162,629)
TOTAL FORWARD COMMITMENT CONTRACTS
(proceeds receivable $78,034,643) 		                    $(77,916,128)
Options Purchased:
Exchange Traded  
Description Call/
Put 		  Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
2 Year U.S. Treasury Notes Futures Call   05/24/24     $103.50   23       46 $1,797  
3 Month CME SOFR Put   04/12/24     $94.75   298       745 3,725  
3 Month CME SOFR Put   12/13/24     $95.50   184       460 151,800  
Total Exchange Traded (cost $235,780)                       $157,322  
    
OTC Traded  
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		Value
Currency Option USD vs AUD   Put   BNP   04/17/24     0.67   —     6,071 $3,633  
A64
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
OTC Traded  
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		Value
Currency Option USD vs JPY   Put   BNP   04/18/24     143.42   —     6,570 $3,534  
Total OTC Traded (cost $144,291)                     $7,167  
Total Options Purchased (cost $380,071)       $164,489  
Options Written:
Exchange Traded  
Description Call/
Put 		  Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
3 Month CME SOFR Call   12/13/24     $97.13   184       460 $(23,000)  
2 Year U.S. Treasury Notes Futures Call   05/24/24     $104.50   23       46 (360)  
20 Year U.S. Treasury Notes Futures Call   05/24/24     $130.00   7       7 (875)  
3 Month CME SOFR Put   12/13/24     $95.00   184       460 (49,450)  
Total Exchange Traded (premiums received $186,364)                       $(73,685)  
    
OTC Traded  
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		Value
Currency Option USD vs MXN   Put   CITI   06/03/24     16.80 —     2,975   $(41,685)  
(premiums received $16,865)  
Total Options Written (premiums received $203,229)     $(115,370)  
Futures contracts outstanding at March 31, 2024:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
10   3 Month CME SOFR   Jun. 2024   $2,366,813   $794
10   3 Month CME SOFR   Sep. 2024   2,371,625   732
371   3 Month CME SOFR   Mar. 2025   88,511,325   (205,415)
33   3 Month CME SOFR   Jun. 2025   7,895,250   2,131
475   3 Month CME SOFR   Mar. 2026   114,290,938   183,057
448   2 Year U.S. Treasury Notes   Jun. 2024   91,609,000   (143,182)
3,831   5 Year U.S. Treasury Notes   Jun. 2024   409,976,879   737,395
78   10 Year U.K. Gilt   Jun. 2024   9,838,863   245,946
614   10 Year U.S. Treasury Notes   Jun. 2024   68,029,284   23,944
189   10 Year U.S. Ultra Treasury Notes   Jun. 2024   21,661,172   170,290
1,123   20 Year U.S. Treasury Bonds   Jun. 2024   135,251,312   2,205,367
573   30 Year U.S. Ultra Treasury Bonds   Jun. 2024   73,917,000   956,910
18   Australian Dollar Currency   Jun. 2024   1,175,940   (16,847)
65   Euro-OAT   Jun. 2024   8,987,953   75,651
                4,236,773
Short Positions:
147   3 Month CME SOFR   Jun. 2024   34,792,144   (24,106)
398   2 Year U.S. Treasury Notes   Jun. 2024   81,384,782   285,141
22   5 Year Euro-Bobl   Jun. 2024   2,806,628   (17,938)
107   5 Year U.S. Treasury Notes   Jun. 2024   11,450,672   (30,793)
66   10 Year Euro-Bund   Jun. 2024   9,497,203   (89,019)
22   10 Year Japanese Bonds   Jun. 2024   21,200,687   (54,219)
2,662   10 Year U.S. Treasury Notes   Jun. 2024   294,941,295   (1,499,494)
363   10 Year U.S. Ultra Treasury Notes   Jun. 2024   41,603,205   (218,529)
146   20 Year U.S. Treasury Bonds   Jun. 2024   17,583,875   152,851
A65
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Futures contracts outstanding at March 31, 2024 (continued):
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Short Positions (cont’d):
35   30 Year Euro Buxl   Jun. 2024   $5,127,774   $(141,267)
24   30 Year U.S. Ultra Treasury Bonds   Jun. 2024   3,096,000   (35,880)
11   Euro Schatz Index   Jun. 2024   1,254,379   (840)
                (1,674,093)
                $2,562,680
Forward foreign currency exchange contracts outstanding at March 31, 2024:
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
Australian Dollar,
Expiring 04/19/24   CITI   AUD 23,983   $16,080,390   $15,638,236   $—   $(442,154)
Brazilian Real,
Expiring 04/19/24   CITI   BRL 25,900   5,138,730   5,152,889   14,159   —
Expiring 04/19/24   GSB   BRL 13,810   2,760,939   2,747,632   —   (13,307)
British Pound,
Expiring 04/02/24   TD   GBP 4,031   5,080,454   5,087,838   7,384   —
Expiring 04/19/24   CITI   GBP 65   82,648   81,946   —   (702)
Expiring 04/19/24   CITI   GBP 60   76,505   75,738   —   (767)
Canadian Dollar,
Expiring 04/19/24   MSCS   CAD 11,148   8,326,562   8,232,819   —   (93,743)
Euro,
Expiring 04/02/24   SSB   EUR 35,416   38,317,053   38,216,469   —   (100,584)
Expiring 04/19/24   CITI   EUR 1,820   2,005,539   1,965,118   —   (40,421)
Expiring 04/19/24   CITI   EUR 1,754   1,899,783   1,893,421   —   (6,362)
Expiring 04/19/24   GSB   EUR 96   104,761   103,640   —   (1,121)
Indian Rupee,
Expiring 04/19/24   MSCS   INR 5,329   63,844   63,873   29   —
Indonesian Rupiah,
Expiring 04/19/24   CITI   IDR 43,365,092   2,769,163   2,730,348   —   (38,815)
Japanese Yen,
Expiring 04/19/24   MSCS   JPY 1,448,562   10,154,327   9,600,284   —   (554,043)
Expiring 04/19/24   MSCS   JPY 560,400   3,765,527   3,714,027   —   (51,500)
Expiring 04/19/24   MSCS   JPY 546,200   3,670,362   3,619,918   —   (50,444)
Swiss Franc,
Expiring 04/19/24   GSB   CHF 850   965,281   944,741   —   (20,540)
Expiring 04/19/24   GSB   CHF 810   915,596   900,282   —   (15,314)
Expiring 04/19/24   GSB   CHF 630   703,139   700,219   —   (2,920)
Expiring 04/19/24   GSB   CHF 620   700,222   689,105   —   (11,117)
Expiring 04/19/24   GSB   CHF 620   699,973   689,105   —   (10,868)
Expiring 04/19/24   GSB   CHF 530   587,827   589,073   1,246   —
Expiring 04/19/24   GSB   CHF 510   566,150   566,845   695   —
Expiring 04/19/24   GSB   CHF 510   578,950   566,844   —   (12,106)
Expiring 04/19/24   GSB   CHF 340   382,931   377,896   —   (5,035)
              $106,396,656   $104,948,306   23,513   (1,471,863)
    
A66
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2024 (continued):
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
British Pound,
Expiring 04/02/24   SSB   GBP 4,031   $5,111,479   $5,087,838   $23,641   $—
Expiring 04/19/24   CITI   GBP 4,515   5,756,930   5,699,306   57,624   —
Expiring 05/02/24   TD   GBP 4,031   5,081,282   5,088,651   —   (7,369)
Canadian Dollar,
Expiring 04/19/24   CITI   CAD 1,410   1,055,358   1,041,261   14,097   —
Expiring 04/19/24   MSCS   CAD 1,900   1,400,014   1,403,117   —   (3,103)
Expiring 04/19/24   MSCS   CAD 1,317   975,046   972,277   2,769   —
Expiring 04/19/24   MSCS   CAD 1,050   774,490   775,407   —   (917)
Expiring 04/19/24   MSCS   CAD 850   629,288   627,710   1,578   —
Expiring 04/19/24   MSCS   CAD 840   622,881   620,325   2,556   —
Expiring 04/19/24   MSCS   CAD 740   549,000   546,477   2,523   —
Expiring 04/19/24   MSCS   CAD 270   199,884   199,391   493   —
Chinese Renminbi,
Expiring 04/19/24   JPM   CNH 61,159   8,596,632   8,427,140   169,492   —
Euro,
Expiring 04/02/24   BNYM   EUR 35,416   38,415,688   38,216,469   199,219   —
Expiring 04/19/24   CITI   EUR 1,810   1,972,956   1,954,385   18,571   —
Expiring 04/19/24   CITI   EUR 1,790   1,951,556   1,932,789   18,767   —
Expiring 04/19/24   CITI   EUR 1,320   1,422,762   1,425,298   —   (2,536)
Expiring 04/19/24   CITI   EUR 1,030   1,117,046   1,112,164   4,882   —
Expiring 04/19/24   CITI   EUR 650   699,263   701,851   —   (2,588)
Expiring 04/19/24   CITI   EUR 640   691,676   691,054   622   —
Expiring 04/19/24   GSB   EUR 840   914,116   907,008   7,108   —
Expiring 04/19/24   GSB   EUR 770   837,248   831,423   5,825   —
Expiring 04/19/24   GSB   EUR 760   826,208   820,626   5,582   —
Expiring 05/02/24   SSB   EUR 35,416   38,363,236   38,261,171   102,065   —
Indonesian Rupiah,
Expiring 04/19/24   JPM   IDR 43,365,092   2,801,363   2,730,348   71,015   —
Japanese Yen,
Expiring 04/19/24   CITI   JPY 25,030   170,269   165,886   4,383   —
Expiring 04/19/24   MSCS   JPY 511,890   3,483,909   3,392,530   91,379   —
Expiring 04/19/24   MSCS   JPY 249,220   1,708,311   1,651,695   56,616   —
Expiring 04/19/24   MSCS   JPY 235,020   1,626,231   1,557,585   68,646   —
Mexican Peso,
Expiring 04/19/24   GSB   MXN 46,182   2,751,797   2,768,764   —   (16,967)
Expiring 04/19/24   JPM   MXN 72,785   4,233,825   4,363,688   —   (129,863)
Norwegian Krone,
Expiring 04/19/24   BNP   NOK 3,570   342,687   329,017   13,670   —
Expiring 04/19/24   BNP   NOK 3,560   342,101   328,095   14,006   —
Swiss Franc,
Expiring 04/19/24   GSB   CHF 5,514   6,268,274   6,128,808   139,466   —
Expiring 04/19/24   GSB   CHF 850   971,072   944,740   26,332   —
Expiring 04/19/24   GSB   CHF 810   927,119   900,282   26,837   —
Expiring 04/19/24   GSB   CHF 810   919,342   900,282   19,060   —
Expiring 04/19/24   GSB   CHF 720   814,516   800,251   14,265   —
Expiring 04/19/24   GSB   CHF 510   582,484   566,844   15,640   —
Expiring 04/19/24   GSB   CHF 420   480,183   466,813   13,370   —
              $146,387,522   $145,338,766   1,212,099   (163,343)
                      $1,235,612   $(1,635,206)
A67
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Cross currency exchange contracts outstanding at March 31, 2024:
Settlement   Type   Notional
Amount
(000) 		  In Exchange
For (000) 		  Unrealized
Appreciation 		  Unrealized
Depreciation 		  Counterparty
OTC Cross Currency Exchange Contracts:
04/19/24   Buy   NOK 48,181   EUR 4,249   $—   $(148,018)   BNP
Credit default swap agreements outstanding at March 31, 2024:
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied Credit
Spread at
March 31,
2024(4) 		  Value at
Trade Date 		  Value at
March 31,
2024 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):
Apache Corp. 06/20/26   1.000%(Q)     465   0.422%   $(12,246)   $5,851   $18,097
Apache Corp. 12/20/26   1.000%(Q)     3,241   0.588%   (52,012)   35,346   87,358
Apache Corp. 12/20/28   1.000%(Q)     188   1.062%   (3,616)   (428)   3,188
                      $(67,874)   $40,769   $108,643
    
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 Agreement on corporate and/or sovereign issues - Buy Protection(1):
Republic of Italy   12/20/27   1.000%(Q)   EUR 1,235   $(43,289)   $(34,674)   $(8,615)   BARC
    
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Value at
Trade Date 		  Value at
March 31,
2024 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):
CDX.NA.HY.42.V1 06/20/29   5.000%(Q)     14,806   $(1,039,092)   $(1,091,950)   $(52,858)
    
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		Implied Credit
Spread at
March 31,
2024(4) 		  Value at
Trade Date 		  Value at
March 31,
2024 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):  
CDX.NA.HY.41.V2 12/20/28   5.000%(Q)     752   3.116%   $39,667   $56,646   $16,979  
CDX.NA.HY.42.V1 06/20/29   5.000%(Q)     4,930   3.289%   343,721   363,580   19,859  
CDX.NA.IG.42.V1 06/20/29   1.000%(Q)     105,570   0.513%   2,324,526   2,419,893   95,367  
                      $2,707,914   $2,840,119   $132,205  
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
A68
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
  referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(3) Notional amount represents the maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Portfolio is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.
Interest rate swap agreements outstanding at March 31, 2024:
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
March 31,
2024 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements:
GBP 3,490   05/08/27   1.050%(A)   1 Day SONIA(1)(A)/ 5.191%   $152,757   $541,886   $389,129
GBP 825   05/08/32   1.150%(A)   1 Day SONIA(1)(A)/ 5.191%   36,002   217,441   181,439
JPY 229,295   10/27/53   1.750%(A)   1 Day TONAR(1)(A)/ 0.074%   —   (118,827)   (118,827)
MXN 251,640   07/20/29   7.440%(M)   28 Day Mexican Interbank Rate(2)(M)/ 11.249%   92,757   (933,546)   (1,026,303)
  63,025   08/31/24   5.384%(T)   1 Day SOFR(2)(T)/ 5.340%   —   (19,246)   (19,246)
  6,996   03/08/25   4.946%(A)   1 Day SOFR(2)(A)/ 5.340%   —   (10,637)   (10,637)
  9,116   03/09/25   5.110%(A)   1 Day SOFR(2)(A)/ 5.340%   —   1,050   1,050
  31,020   08/31/25   4.805%(A)   1 Day SOFR(1)(A)/ 5.340%   —   124,897   124,897
  1,645   09/25/26   4.699%(A)   1 Day SOFR(1)(A)/ 5.340%   304   (6,271)   (6,575)
  43,786   02/28/31   3.870%(A)   1 Day SOFR(1)(A)/ 5.340%   (118,883)   (77,370)   41,513
  5,351   02/15/47   1.520%(A)   1 Day SOFR(1)(A)/ 5.340%   (163,674)   1,840,517   2,004,191
  11,902   02/15/48   3.050%(A)   1 Day SOFR(1)(A)/ 5.340%   444,443   1,302,925   858,482
  20,650   05/15/48   3.150%(A)   1 Day SOFR(1)(A)/ 5.340%   (428,537)   2,287,471   2,716,008
  5,855   03/15/53   2.880%(A)   1 Day SOFR(1)(A)/ 5.340%   65,915   784,900   718,985
  9,925   03/15/53   2.970%(A)   1 Day SOFR(1)(A)/ 5.340%   5,803   1,172,874   1,167,071
  1,105   06/21/53   3.250%(A)   1 Day SOFR(1)(A)/ 5.340%   (11,718)   92,267   103,985
  8,665   09/20/53   3.590%(A)   1 Day SOFR(1)(A)/ 5.340%   36,575   137,343   100,768
                    $111,744   $7,337,674   $7,225,930
    
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Fair
Value 		  Upfront
Premiums
Paid(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Interest Rate Swap Agreement:
BRL 63,340   01/02/29   10.262%(T)   1 Day BROIS(2)(T)/ 0.040%   $(173,750)   $—   $(173,750)   JPM
    
(1) The Portfolio pays the fixed rate and receives the floating rate.
(2) The Portfolio pays the floating rate and receives the fixed rate.
    
Total return swap agreements outstanding at March 31, 2024:
Reference Entity   Financing
Rate 		  Counterparty   Termination
Date 		  Long (Short)
Notional
Amount
(000)#(1) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation)(2)
OTC Total Return Swap Agreements:
iBoxx US Dollar Liquid Investment Grade Index(Q)   1 Day SOFR(T)/ 5.340%   BNP   06/20/24   (13,000)   $(555,212)   $—   $(555,212)
A69
AST CORE FIXED INCOME PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2024 (unaudited)
Total return swap agreements outstanding at March 31, 2024 (continued):
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 (cont’d.):
Total Return Benchmark Bond Index(T)   1 Day USOIS -54bps(T)/ 4.790%   JPM   09/20/24   (6,697)   $(82,513)   $—   $(82,513)
U.S. Treasury Bond(T)   1 Day USOIS +20bps(T)/ 5.530%   JPM   08/05/24   13,785   (412,801)   —   (412,801)
U.S. Treasury Bond(T)   1 Day USOIS +20bps(T)/ 5.530%   JPM   08/13/24   27,880   64,267   —   64,267
U.S. Treasury Bond(T)   1 Day USOIS +20bps(T)/ 5.530%   JPM   08/21/24   41,895   569,287   —   569,287
                    $(416,972)   $—   $(416,972)
(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).
A70