AST INTERNATIONAL GROWTH PORTFOLIO

SCHEDULE OF INVESTMENTS as of September 30, 2019 (unaudited)

	Shares		Value
Long-Term Investments — 96.0%
Common Stocks — 94.9%
Argentina — 0.9%
MercadoLibre, Inc.*		32,226	$ 17,763,938
Australia — 2.6%
Aristocrat Leisure Ltd.		360,772	7,478,082
Cochlear Ltd.		93,247	13,112,354
CSL Ltd.		85,630	13,540,185
Insurance Australia Group Ltd.		921,325	4,901,767
Macquarie Group Ltd.		162,516	14,385,073
			53,417,461
Austria — 0.4%
BAWAG Group AG, 144A*		226,999	8,971,409
Belgium — 0.4%
KBC Group NV		138,575	9,006,884
Canada — 4.5%
Alimentation Couche-Tard, Inc. (Class B Stock)		278,500	8,534,626
Brookfield Asset Management, Inc. (Class A Stock)(a)		316,421	16,798,791
Canadian National Railway Co.		199,461	17,909,862
Dollarama, Inc.		240,695	8,616,948
Shopify, Inc. (Class A Stock)*		50,283	15,671,200
Suncor Energy, Inc.		262,153	8,269,143
Toronto-Dominion Bank (The)		268,189	15,637,695
			91,438,265
China — 8.1%
Alibaba Group Holding Ltd., ADR*(a)		327,183	54,714,813
Budweiser Brewing Co. APAC Ltd., 144A*		482,100	1,734,593
China Merchants Bank Co. Ltd. (Class H Stock)		2,951,500	14,078,907
Jiangsu Hengrui Medicine Co. Ltd. (Class A Stock)		1,038,838	11,768,611
Kweichow Moutai Co. Ltd. (Class A Stock)		158,619	25,533,336
NetEase, Inc., ADR		40,844	10,871,856
Tencent Holdings Ltd.		737,409	31,059,955
Wuxi Biologics Cayman, Inc., 144A*		1,616,283	16,567,850
			166,329,921
Denmark — 2.5%
Coloplast A/S (Class B Stock)		110,179	13,259,508
DSV A/S		58,194	5,535,496
Novo Nordisk A/S (Class B Stock)		386,246	19,877,684
Orsted A/S, 144A		137,051	12,750,728
			51,423,416
Finland — 0.2%
Neste OYJ		96,214	3,186,803
France — 13.2%
Air Liquide SA		41,652	5,933,850
Airbus SE		276,201	35,858,877
Arkema SA		44,694	4,167,622
Capgemini SE		108,671	12,795,830
Dassault Systemes SE		166,026	23,694,970

	Shares		Value
Common Stocks (continued)
France (cont’d.)
Kering SA		20,581	$ 10,485,534
L’Oreal SA		128,110	35,853,186
LVMH Moet Hennessy Louis Vuitton SE		103,074	41,020,621
Pernod Ricard SA		163,055	29,052,351
Remy Cointreau SA(a)		68,704	9,126,984
Safran SA		280,646	44,190,172
Schneider Electric SE		66,076	5,793,295
TOTAL SA		233,526	12,177,140
			270,150,432
Germany — 6.4%
adidas AG		56,083	17,456,662
Brenntag AG		164,795	7,976,350
Continental AG		43,336	5,548,587
CTS Eventim AG & Co. KGaA		183,416	10,342,039
Deutsche Boerse AG		45,535	7,116,545
Gerresheimer AG		156,743	11,247,553
Infineon Technologies AG		1,075,428	19,405,706
Rational AG		11,550	8,300,853
SAP SE		200,516	23,591,608
SAP SE, ADR(a)		110,659	13,043,376
Scout24 AG, 144A		118,848	6,779,686
			130,808,965
Hong Kong — 3.1%
AIA Group Ltd.		4,377,893	41,404,023
Techtronic Industries Co. Ltd.		3,261,860	22,737,575
			64,141,598
India — 1.2%
HDFC Bank Ltd., ADR		237,136	13,528,609
Housing Development Finance Corp. Ltd.		364,227	10,174,895
			23,703,504
Ireland — 2.3%
AerCap Holdings NV*		227,894	12,477,196
CRH PLC		318,465	10,911,340
Kerry Group PLC (Class A Stock)		104,954	12,278,589
Kingspan Group PLC		235,442	11,497,402
			47,164,527
Israel — 1.1%
Check Point Software Technologies Ltd.*(a)		209,371	22,926,125
Italy — 2.3%
Brunello Cucinelli SpA		467,026	14,574,030
Ferrari NV		184,247	28,484,158
Nexi SpA, 144A*		455,025	4,647,066
			47,705,254
Japan — 8.6%
Asahi Intecc Co. Ltd.		141,200	3,726,728
Bridgestone Corp.		220,300	8,557,238
Daikin Industries Ltd.		157,191	20,793,703
Hoya Corp.		245,100	20,089,599

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AST INTERNATIONAL GROWTH PORTFOLIO(continued)

SCHEDULE OF INVESTMENTS as of September 30, 2019 (unaudited)

	Shares		Value
Common Stocks (continued)
Japan (cont’d.)
Kao Corp.		110,400	$ 8,196,930
Keyence Corp.		40,536	25,264,581
Kose Corp.		64,000	10,874,171
Nitori Holdings Co. Ltd.		66,500	9,761,308
Persol Holdings Co. Ltd.		352,000	6,701,354
Sanwa Holdings Corp.		848,200	9,534,798
Shionogi & Co. Ltd.		177,600	9,903,539
Shiseido Co. Ltd.		172,300	13,830,035
SMC Corp.		31,500	13,573,676
Terumo Corp.		187,600	6,072,811
Toyota Motor Corp.		142,800	9,585,183
			176,465,654
Luxembourg — 0.2%
Tenaris SA		416,109	4,423,096
Macau — 0.4%
Galaxy Entertainment Group Ltd.		1,380,000	8,603,447
Netherlands — 5.7%
Adyen NV, 144A*		46,651	30,718,557
ASML Holding NV		148,158	36,821,109
Heineken NV		130,835	14,137,944
Koninklijke Philips NV		349,599	16,215,079
NXP Semiconductors NV		62,994	6,873,905
Royal Dutch Shell PLC (Class A Stock)		389,300	11,463,231
			116,229,825
Portugal — 0.3%
Galp Energia SGPS SA		349,360	5,264,609
Singapore — 0.5%
DBS Group Holdings Ltd.		555,100	10,044,807
Spain — 1.2%
ACS Actividades de Construccion y Servicios SA		285,344	11,407,178
Amadeus IT Group SA		176,438	12,642,171
			24,049,349
Sweden — 1.6%
Assa Abloy AB (Class B Stock)		248,093	5,521,087
Atlas Copco AB (Class A Stock)		413,793	12,727,797
EQT AB*		175,000	1,554,975
Hexagon AB (Class B Stock)		195,308	9,406,982
Swedbank AB (Class A Stock)		238,221	3,430,924
			32,641,765
Switzerland — 10.5%
Alcon, Inc.*		151,218	8,818,348
Cie Financiere Richemont SA		65,011	4,771,735
Givaudan SA		8,551	23,881,179
Julius Baer Group Ltd.*		197,570	8,741,148
Lonza Group AG*		68,741	23,236,458
Novartis AG		336,670	29,161,287
Partners Group Holding AG		25,231	19,328,080
Roche Holding AG		48,760	14,200,623
SGS SA		3,335	8,276,303
SIG Combibloc Group AG*		578,766	7,736,175
Sika AG		62,132	9,090,990

	Shares		Value
Common Stocks (continued)
Switzerland (cont’d.)
Sonova Holding AG		59,308	$ 13,778,251
Straumann Holding AG		27,356	22,390,118
Temenos AG*		77,526	12,980,442
UBS Group AG*		670,450	7,611,921
			214,003,058
Taiwan — 1.0%
Taiwan Semiconductor Manufacturing Co. Ltd.		2,223,000	19,570,573
Thailand — 0.5%
Sea Ltd., ADR*(a)		317,793	9,835,693
United Kingdom — 11.4%
Abcam PLC		175,860	2,484,091
Ashtead Group PLC		243,160	6,772,699
AstraZeneca PLC		145,522	12,981,809
Bunzl PLC		535,375	13,969,357
Compass Group PLC		929,242	23,915,721
DCC PLC		97,328	8,481,188
Diageo PLC		300,089	12,264,897
Electrocomponents PLC		705,176	5,569,084
Experian PLC		1,132,924	36,174,073
Fevertree Drinks PLC		264,993	7,890,441
London Stock Exchange Group PLC		236,736	21,279,054
Prudential PLC		569,168	10,302,299
Reckitt Benckiser Group PLC		133,560	10,411,078
RELX PLC		1,070,583	25,396,901
Rentokil Initial PLC		1,255,638	7,221,021
Segro PLC, REIT		1,120,834	11,180,461
Spectris PLC		168,645	5,052,881
St. James’s Place PLC		1,053,790	12,671,837
			234,018,892
United States — 3.8%
Aon PLC		58,993	11,419,275
Core Laboratories NV(a)		25,474	1,187,598
Ferguson PLC		147,986	10,795,316
Lululemon Athletica, Inc.*		160,011	30,806,918
Samsonite International SA, 144A		4,826,936	10,268,327
Sensata Technologies Holding PLC*		243,058	12,167,483
			76,644,917
Total Common Stocks (cost $1,617,856,514)			1,939,934,187
Preferred Stock — 1.1%
Germany
Sartorius AG (PRFC)		123,985	22,632,861
(cost $11,293,986)
Total Long-Term Investments (cost $1,629,150,500)			1,962,567,048
Short-Term Investments — 5.4%
Affiliated Mutual Funds — 4.2%
PGIM Core Ultra Short Bond Fund(w)		29,828,302	29,828,302

A2

AST INTERNATIONAL GROWTH PORTFOLIO(continued)

SCHEDULE OF INVESTMENTS as of September 30, 2019 (unaudited)

	Shares		Value
Affiliated Mutual Funds (continued)
PGIM Institutional Money Market Fund (cost $57,737,395; includes $57,560,515 of cash collateral for securities on loan)(b)(w)		57,727,547	$ 57,733,320
Total Affiliated Mutual Funds (cost $87,565,697)			87,561,622
Unaffiliated Mutual Fund — 1.2%
BlackRock Liquidity FedFund		24,200,789	24,200,789
(cost $24,200,789)
Total Short-Term Investments (cost $111,766,486)			111,762,411
TOTAL INVESTMENTS—101.4% (cost $1,740,916,986)			2,074,329,459
Liabilities in excess of other assets — (1.4)%			(29,323,187 )
Net Assets — 100.0%			$ 2,045,006,272

Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
144A	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.
ADR	American Depositary Receipt
PRFC	Preference Shares

*	Non-income producing security.
(a)	All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $56,515,626; cash collateral of $57,560,515 (included in liabilities) was received with which the Portfolio purchased highly liquid short-term investments.
(b)	Represents security purchased with cash collateral received for securities on loan and includes dividend reinvestment.
(w)	PGIM Investments LLC, the co-manager of the Portfolio, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund.

 

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).

A3