NPORT-EX 2 PIPDMP0ASTQMAIntlCoreEqPt.htm
AST QMA INTERNATIONAL CORE EQUITY PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Long-Term Investments — 95.7%
Common Stocks — 95.0%
Australia — 8.5%
AGL Energy Ltd.
46,056   $480,637
Aristocrat Leisure Ltd.
349,420   4,542,934
ASX Ltd.
13,541   642,935
Aurizon Holdings Ltd.
1,647,753   4,286,383
BHP Group Ltd.
161,139   2,857,054
BHP Group PLC
254,625   3,939,456
BlueScope Steel Ltd.
90,024   477,682
Coles Group Ltd.
100,122   930,111
Commonwealth Bank of Australia
9,617   366,748
CSL Ltd.
27,879   5,002,054
Fortescue Metals Group Ltd.
821,480   5,044,981
Goodman Group, REIT
142,020   1,060,000
Lendlease Group
47,808   303,011
Macquarie Group Ltd.
49,120   2,556,378
Magellan Financial Group Ltd.
196,796   5,175,722
Newcrest Mining Ltd.
44,577   629,689
Origin Energy Ltd.
575,540   1,535,594
QBE Insurance Group Ltd.
117,348   623,933
Rio Tinto Ltd.
22,288   1,143,856
Rio Tinto PLC
138,345   6,330,501
Santos Ltd.
1,733,323   3,598,095
Sonic Healthcare Ltd.
26,984   401,764
Stockland, REIT
216,468   335,385
Treasury Wine Estates Ltd.
40,892   251,115
Wesfarmers Ltd.
68,989   1,469,539
Woolworths Group Ltd.
102,718   2,215,826
            56,201,383
Austria — 0.4%
OMV AG
107,797   2,963,714
Belgium — 0.5%
Ageas
23,850   986,679
Colruyt SA
10,000   542,727
KBC Group NV
25,136   1,149,901
Proximus SADP
18,020   413,322
Telenet Group Holding NV
12,140   366,809
            3,459,438
China — 0.2%
BOC Hong Kong Holdings Ltd.
527,500   1,457,114
Denmark — 1.2%
Carlsberg A/S (Class B Stock)
12,866   1,454,901
Danske Bank A/S*
38,506   434,360
Novo Nordisk A/S (Class B Stock)
103,678   6,240,112
            8,129,373
Finland — 0.4%
Elisa OYJ
12,584   781,581
Kone OYJ (Class B Stock)
21,525   1,222,523
Neste OYJ
23,624   801,205
            2,805,309
France — 9.1%
Amundi SA, 144A
6,631   392,411
Arkema SA
3,536   244,365
Atos SE
5,352   360,552
      Shares   Value
Common Stocks (continued)
France (cont’d.)
BNP Paribas SA
211,206   $6,361,168
Credit Agricole SA
205,128   1,489,702
Danone SA
17,577   1,131,912
Dassault Systemes SE
11,623   1,723,467
Eiffage SA
6,911   492,024
Hermes International
5,033   3,471,288
Kering SA
3,278   1,710,669
Klepierre SA, REIT(a)
204,047   4,297,120
Legrand SA
91,142   5,842,957
L’Oreal SA
6,772   1,789,458
LVMH Moet Hennessy Louis Vuitton SE
15,507   5,754,460
Peugeot SA
409,186   5,446,894
Publicis Groupe SA
170,680   4,893,710
Sanofi
64,433   5,622,143
Sartorius Stedim Biotech
1,560   313,582
Schneider Electric SE
48,237   4,106,706
Societe Generale SA
44,223   741,915
Teleperformance
4,278   892,776
TOTAL SA
77,711   2,974,302
            60,053,581
Germany — 6.4%
Allianz SE
33,607   5,789,405
BASF SE
52,933   2,522,322
Bayer AG
51,142   2,958,747
Brenntag AG
11,193   416,002
Deutsche Post AG
87,122   2,369,340
Deutsche Telekom AG
251,358   3,245,849
Deutsche Wohnen SE
24,383   931,000
E.ON SE
140,879   1,462,851
Evonik Industries AG
18,700   388,934
Fresenius Medical Care AG & Co. KGaA
3,796   251,113
Fresenius SE & Co. KGaA
88,006   3,256,497
Hannover Rueck SE
3,939   566,770
HeidelbergCement AG
104,621   4,449,738
Henkel AG & Co. KGaA
5,417   400,777
Infineon Technologies AG
47,094   677,863
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
8,197   1,647,115
Puma SE
4,788   284,651
SAP SE
55,321   6,151,705
Siemens AG
21,909   1,864,133
Siemens Healthineers AG, 144A
63,407   2,498,929
Telefonica Deutschland Holding AG
101,102   249,964
Zalando SE, 144A*
7,876   299,947
            42,683,652
Hong Kong — 1.3%
AIA Group Ltd.
336,600   3,031,942
CK Asset Holdings Ltd.
134,000   756,306
Hang Seng Bank Ltd.
51,900   884,935
Hongkong Land Holdings Ltd.
94,000   352,705
Link REIT
82,200   693,152
Swire Pacific Ltd. (Class A Stock)
346,000   2,216,706
WH Group Ltd., 144A
609,500   569,559
A1
AST QMA INTERNATIONAL CORE EQUITY PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Hong Kong (cont’d.)
Wharf Real Estate Investment Co. Ltd.
110,000   $451,957
            8,957,262
Ireland — 0.6%
AerCap Holdings NV*
88,600   2,019,194
CRH PLC
42,481   1,161,827
Flutter Entertainment PLC
4,169   376,260
Kingspan Group PLC(a)
8,352   447,910
            4,005,191
Israel — 0.8%
Check Point Software Technologies Ltd.*(a)
45,800   4,604,732
Nice Ltd.*
5,217   768,355
            5,373,087
Italy — 1.9%
Enel SpA
905,431   6,320,006
Ferrari NV
10,834   1,687,215
Intesa Sanpaolo SpA
1,328,050   2,189,850
Recordati SpA
11,239   475,991
Snam SpA
122,680   569,173
Terna Rete Elettrica Nazionale SpA
85,077   540,223
UniCredit SpA
112,418   878,212
            12,660,670
Japan — 25.9%
Advantest Corp.
130,900   5,185,109
Air Water, Inc.
20,600   284,421
Alfresa Holdings Corp.
12,600   233,753
Amada Holdings Co. Ltd.
513,700   4,045,593
Asahi Group Holdings Ltd.
131,900   4,291,968
Asahi Kasei Corp.
62,100   441,627
Astellas Pharma, Inc.
417,100   6,462,294
Bandai Namco Holdings, Inc.
15,200   737,521
Chubu Electric Power Co., Inc.
273,700   3,883,476
Chugai Pharmaceutical Co. Ltd.
23,700   2,750,395
Credit Saison Co. Ltd.
38,000   440,401
Dai Nippon Printing Co. Ltd.
108,900   2,315,341
Dai-ichi Life Holdings, Inc.
77,000   920,873
FamilyMart Co. Ltd.
17,600   314,121
FUJIFILM Holdings Corp.
88,200   4,434,406
Fujitsu Ltd.
11,100   1,006,994
Hikari Tsushin, Inc.
18,200   3,056,003
Hitachi High-Tech Corp.
61,400   4,556,948
Hulic Co. Ltd.
42,000   428,074
Inpex Corp.
91,000   506,759
ITOCHU Corp.
285,600   5,897,948
Japan Post Holdings Co. Ltd.
139,200   1,089,896
Japan Post Insurance Co. Ltd.
157,500   1,943,179
Japan Real Estate Investment Corp., REIT
117   686,759
Japan Tobacco, Inc.
118,100   2,187,067
Kamigumi Co. Ltd.
67,600   1,143,891
Kansai Electric Power Co., Inc. (The)
479,600   5,389,534
KDDI Corp.
250,600   7,427,056
Keisei Electric Railway Co. Ltd.
7,900   228,200
      Shares   Value
Common Stocks (continued)
Japan (cont’d.)
Kirin Holdings Co. Ltd.
46,000   $912,122
Kobayashi Pharmaceutical Co. Ltd.
3,400   316,010
Kurita Water Industries Ltd.
11,300   261,970
Kyushu Railway Co.
9,300   267,247
Medipal Holdings Corp.
206,100   3,865,385
Mitsubishi Estate Co. Ltd.
138,800   2,051,417
Mitsubishi Heavy Industries Ltd.
15,900   400,445
Mitsubishi UFJ Financial Group, Inc.
632,200   2,349,650
Mitsui & Co. Ltd.
147,000   2,037,317
Mitsui Fudosan Co. Ltd.
46,200   799,605
MS&AD Insurance Group Holdings, Inc.
24,400   682,024
NEC Corp.
87,300   3,179,166
Nintendo Co. Ltd.
5,800   2,242,843
Nippon Building Fund, Inc., REIT
194   1,300,759
Nippon Express Co. Ltd.
5,000   244,767
Nippon Telegraph & Telephone Corp.
248,100   5,944,543
Nitori Holdings Co. Ltd.
4,200   568,521
Nomura Holdings, Inc.
1,285,100   5,408,935
Nomura Real Estate Holdings, Inc.
70,400   1,139,299
Nomura Research Institute Ltd.
21,100   447,074
NTT DOCOMO, Inc.
91,100   2,847,412
Obayashi Corp.
609,000   5,214,628
Obic Co. Ltd.
4,500   591,179
Ono Pharmaceutical Co. Ltd.
21,500   484,752
Oriental Land Co. Ltd.
10,700   1,361,422
Orix JREIT, Inc.
315   414,117
Otsuka Holdings Co. Ltd.
23,200   909,391
Pan Pacific International Holdings Corp.
40,500   766,467
Recruit Holdings Co. Ltd.
123,300   3,205,505
Secom Co. Ltd.
11,200   932,354
Sekisui House Ltd.
55,600   918,725
SG Holdings Co. Ltd.
22,000   524,373
Shimizu Corp.
618,700   4,833,020
Shin-Etsu Chemical Co. Ltd.
21,100   2,087,355
Shionogi & Co. Ltd.
17,900   881,964
Showa Denko KK
12,100   248,383
Softbank Corp.
153,000   1,952,642
Sohgo Security Services Co. Ltd.
9,600   469,421
Sony Corp.
115,200   6,842,329
Sumitomo Mitsui Financial Group, Inc.
232,800   5,609,943
Sumitomo Mitsui Trust Holdings, Inc.
20,100   579,615
Sumitomo Realty & Development Co. Ltd.
17,000   415,334
Suzuken Co. Ltd.
108,000   3,930,467
T&D Holdings, Inc.
50,600   410,164
TDK Corp.
11,200   863,457
Tokyo Electron Ltd.
26,600   4,997,964
Tokyo Gas Co. Ltd.
10,900   258,826
Toppan Printing Co. Ltd.
17,700   270,596
Toshiba Corp.
28,500   624,166
Toyoda Gosei Co. Ltd.
30,000   512,484
Toyota Motor Corp.
172,300   10,372,742
Toyota Tsusho Corp.
10,500   245,881
West Japan Railway Co.
10,100   690,812
            171,976,596
 
A2
AST QMA INTERNATIONAL CORE EQUITY PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Luxembourg — 0.3%
ArcelorMittal SA
239,797   $2,282,305
Macau — 0.2%
Galaxy Entertainment Group Ltd.
123,000   653,242
Sands China Ltd.
129,200   471,108
            1,124,350
Netherlands — 4.0%
Adyen NV, 144A*
581   493,706
Altice Europe NV*
76,581   296,493
ASML Holding NV
5,609   1,486,900
Koninklijke Ahold Delhaize NV
241,556   5,637,653
NN Group NV
192,384   5,138,132
Randstad NV
9,280   324,793
Royal Dutch Shell PLC (Class A Stock)
223,967   3,907,432
Royal Dutch Shell PLC (Class B Stock)
193,329   3,233,451
Wolters Kluwer NV
84,097   5,944,974
            26,463,534
New Zealand — 0.1%
Fisher & Paykel Healthcare Corp. Ltd.
40,679   732,874
Norway — 0.3%
DNB ASA
158,311   1,771,574
Orkla ASA
45,651   389,592
            2,161,166
Singapore — 0.9%
DBS Group Holdings Ltd.
101,600   1,314,923
Oversea-Chinese Banking Corp. Ltd.
301,200   1,820,940
Singapore Exchange Ltd.
223,000   1,434,564
United Overseas Bank Ltd.
71,900   978,134
Wilmar International Ltd.
171,700   389,331
            5,937,892
South Africa — 0.9%
Anglo American PLC
336,852   5,905,076
Spain — 4.1%
ACS Actividades de Construccion y Servicios SA
158,607   3,084,449
Aena SME SA, 144A
34,113   3,729,188
Amadeus IT Group SA
9,780   464,503
Banco Bilbao Vizcaya Argentaria SA
1,740,652   5,496,236
Enagas SA
13,609   271,799
Iberdrola SA
794,372   7,847,086
Industria de Diseno Textil SA
147,080   3,805,438
Naturgy Energy Group SA(a)
62,696   1,107,005
Red Electrica Corp. SA
26,060   468,944
Repsol SA
75,543   692,108
            26,966,756
Sweden — 4.0%
Alfa Laval AB
27,975   481,196
Atlas Copco AB (Class A Stock)
43,639   1,461,784
Atlas Copco AB (Class B Stock)
25,211   740,976
Boliden AB
16,426   297,570
Essity AB (Class B Stock)
173,121   5,334,876
Hennes & Mauritz AB (Class B Stock)
44,446   571,364
      Shares   Value
Common Stocks (continued)
Sweden (cont’d.)
Hexagon AB (Class B Stock)
22,308   $942,826
Industrivarden AB (Class C Stock)
20,300   395,615
Kinnevik AB (Class B Stock)
19,060   315,341
Lundin Petroleum AB
78,726   1,505,871
Sandvik AB
63,800   897,376
Skandinaviska Enskilda Banken AB (Class A Stock)
769,738   5,183,951
Skanska AB (Class B Stock)*
18,271   276,470
SKF AB (Class B Stock)
21,783   298,975
Telefonaktiebolaget LM Ericsson (Class B Stock)
153,304   1,246,672
Volvo AB (Class B Stock)
522,767   6,273,778
            26,224,641
Switzerland — 9.5%
Chocoladefabriken Lindt & Spruengli AG
9   784,318
Coca-Cola HBC AG
17,352   372,263
Credit Suisse Group AG*
143,782   1,183,165
Geberit AG
2,110   924,881
Givaudan SA
574   1,775,476
LafargeHolcim Ltd.*
43,071   1,579,004
Nestle SA
166,671   17,052,169
Novartis AG
174,234   14,342,857
Roche Holding AG
53,299   17,262,302
Sonova Holding AG
3,585   643,467
STMicroelectronics NV
36,616   792,913
Swiss Life Holding AG
3,080   1,047,395
UBS Group AG*
100,000   928,598
Zurich Insurance Group AG
11,442   4,038,495
            62,727,303
United Kingdom — 12.5%
3i Group PLC
54,015   526,235
Associated British Foods PLC
20,292   453,848
AstraZeneca PLC
16,862   1,515,326
Aviva PLC
218,700   720,444
BAE Systems PLC
187,302   1,207,839
Barclays PLC
5,328,145   6,138,648
Barratt Developments PLC
100,928   547,255
Berkeley Group Holdings PLC
107,864   4,808,326
British American Tobacco PLC
275,446   9,384,252
British Land Co. PLC (The), REIT
78,587   327,113
Bunzl PLC
28,740   579,173
CK Hutchison Holdings Ltd.
416,500   2,791,623
Coca-Cola European Partners PLC
72,500   2,720,925
Diageo PLC
132,105   4,234,769
Fiat Chrysler Automobiles NV
668,846   4,896,989
GlaxoSmithKline PLC
284,737   5,366,250
Halma PLC
121,545   2,884,193
HSBC Holdings PLC
595,789   3,346,482
Imperial Brands PLC
213,849   3,954,338
J Sainsbury PLC
102,289   266,229
JD Sports Fashion PLC
505,124   2,865,356
Legal & General Group PLC
2,592,909   6,152,618
Next PLC
15,098   757,124
Persimmon PLC
22,470   531,579
Taylor Wimpey PLC
295,452   430,908
 
A3
AST QMA INTERNATIONAL CORE EQUITY PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
United Kingdom (cont’d.)
Tesco PLC
630,986   $1,780,245
Unilever NV
169,393   8,343,447
Unilever PLC
62,422   3,151,234
Vodafone Group PLC
1,542,776   2,141,464
            82,824,232
United States — 1.0%
Ferguson PLC
95,895   5,935,911
QIAGEN NV*
12,248   501,296
            6,437,207
 
Total Common Stocks

(cost $780,838,112)
  630,513,706
Exchange-Traded Fund — 0.3%
United States
iShares MSCI EAFE ETF
39,589   2,116,428
(cost $1,996,543)      
Preferred Stocks — 0.4%
Germany
Henkel AG & Co. KGaA (PRFC)
11,388   915,315
Porsche Automobil Holding SE (PRFC)
6,937   290,597
Volkswagen AG (PRFC)
10,256   1,203,653
 
Total Preferred Stocks

(cost $3,400,577)
  2,409,565
 
Total Long-Term Investments

(cost $786,235,232)
  635,039,699
Short-Term Investments — 3.1%
Affiliated Mutual Funds — 2.4%
PGIM Core Ultra Short Bond Fund(w)
6,508,115   6,508,115
PGIM Institutional Money Market Fund

(cost $9,241,727; includes $9,228,950 of cash collateral for securities on loan)(b)(w)
9,263,096   9,248,275
 
Total Affiliated Mutual Funds

(cost $15,749,842)
  15,756,390
    
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		 
U.S. Treasury Obligation(k)(n) — 0.7%
U.S. Treasury Bills
0.077%   06/18/20     4,500 4,498,978
(cost $4,499,253)      
 
Total Short-Term Investments

(cost $20,249,095)
  20,255,368
 
TOTAL INVESTMENTS—98.8%
(cost $806,484,327) 		  655,295,067
 
Other assets in excess of liabilities(z) — 1.2%   8,018,100
 
Net Assets — 100.0%   $663,313,167
    
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.
EAFE Europe, Australasia, Far East
ETF Exchange-Traded Fund
MSCI Morgan Stanley Capital International
PRFC Preference Shares
REITs Real Estate Investment Trust
    
* Non-income producing security.
# Principal amount is shown in U.S. dollars unless otherwise stated.
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $8,864,127; cash collateral of $9,228,950 (included in liabilities) was received with which the Portfolio purchased highly liquid short-term investments.
(b) Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.
(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.
(n) Rate shown reflects yield to maturity at purchased date.
(w) PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
 
A4
AST QMA INTERNATIONAL CORE EQUITY PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
Commodity Futures contracts outstanding at March 31, 2020:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value/
Unrealized
Appreciation
Depreciation
Long Position:
315   Mini MSCI EAFE Index   Jun. 2020   $24,558,975   $1,800,882
Other information regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
A5