NPORT-EX 2 PIPDML0ASTTRPLgCapValPt.htm
AST T. ROWE PRICE LARGE-CAP VALUE PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Long-Term Investments — 96.4%
Common Stocks — 94.8%
Aerospace & Defense — 1.9%
Boeing Co. (The)
100,810   $15,034,803
Raytheon Co.
93,092   12,209,016
            27,243,819
Air Freight & Logistics — 2.2%
United Parcel Service, Inc. (Class B Stock)
340,806   31,838,096
Airlines — 0.8%
Southwest Airlines Co.
334,137   11,898,619
Auto Components — 0.5%
Magna International, Inc. (Canada)
219,621   7,010,302
Banks — 7.7%
Citigroup, Inc.
142,261   5,992,033
Fifth Third Bancorp
1,313,622   19,507,287
JPMorgan Chase & Co.
415,898   37,443,297
Signature Bank
102,763   8,261,117
Wells Fargo & Co.
1,496,411   42,946,996
            114,150,730
Beverages — 0.7%
PepsiCo, Inc.
89,685   10,771,168
Biotechnology — 2.5%
AbbVie, Inc.(a)
280,200   21,348,438
Gilead Sciences, Inc.
214,381   16,027,124
            37,375,562
Building Products — 0.6%
Fortune Brands Home & Security, Inc.
198,540   8,586,855
Capital Markets — 4.6%
Charles Schwab Corp. (The)(a)
415,600   13,972,472
Franklin Resources, Inc.(a)
326,433   5,448,167
Morgan Stanley(a)
1,031,532   35,072,088
State Street Corp.
243,200   12,955,264
            67,447,991
Chemicals — 2.0%
CF Industries Holdings, Inc.
459,638   12,502,153
DuPont de Nemours, Inc.
509,008   17,357,173
            29,859,326
Commercial Services & Supplies — 0.5%
Stericycle, Inc.*(a)
165,460   8,038,047
Communications Equipment — 1.6%
Cisco Systems, Inc.
612,718   24,085,945
Containers & Packaging — 1.4%
International Paper Co.
647,268   20,149,453
Diversified Financial Services — 0.6%
Equitable Holdings, Inc.
634,342   9,166,242
Diversified Telecommunication Services — 2.1%
Verizon Communications, Inc.
584,362   31,397,770
Electric Utilities — 6.1%
Edison International
369,041   20,219,756
NextEra Energy, Inc.
106,042   25,515,826
      Shares   Value
Common Stocks (continued)
Electric Utilities (cont’d.)
Southern Co. (The)
827,068   $44,777,462
            90,513,044
Electrical Equipment — 0.6%
Rockwell Automation, Inc.(a)
53,600   8,088,776
Electronic Equipment, Instruments & Components — 0.6%
TE Connectivity Ltd.
130,224   8,201,508
Entertainment — 0.9%
Walt Disney Co. (The)
144,427   13,951,648
Equity Real Estate Investment Trusts (REITs) — 1.7%
SL Green Realty Corp.(a)
200,210   8,629,051
Weyerhaeuser Co.
940,325   15,938,509
            24,567,560
Food & Staples Retailing — 1.5%
Walmart, Inc.
200,501   22,780,924
Food Products — 4.1%
Bunge Ltd.
290,935   11,937,063
Conagra Brands, Inc.
625,492   18,351,935
Tyson Foods, Inc. (Class A Stock)
512,081   29,634,128
            59,923,126
Health Care Equipment & Supplies — 5.6%
Becton, Dickinson & Co.
92,386   21,227,531
Hologic, Inc.*
347,674   12,203,357
Medtronic PLC
414,717   37,399,179
Zimmer Biomet Holdings, Inc.
116,083   11,733,670
            82,563,737
Health Care Providers & Services — 2.0%
CVS Health Corp.
506,416   30,045,661
Hotels, Restaurants & Leisure — 1.0%
Carnival Corp.(a)
117,150   1,542,866
Las Vegas Sands Corp.
187,184   7,949,704
McDonald’s Corp.(a)
17,600   2,910,160
Royal Caribbean Cruises Ltd.(a)
67,900   2,184,343
            14,587,073
Household Products — 1.6%
Kimberly-Clark Corp.
184,838   23,635,235
Industrial Conglomerates — 2.8%
General Electric Co.
5,179,279   41,123,475
Insurance — 6.6%
American International Group, Inc.
1,067,172   25,878,921
Chubb Ltd.
309,212   34,535,888
Marsh & McLennan Cos., Inc.
243,872   21,085,173
MetLife, Inc.
529,034   16,172,570
            97,672,552
Life Sciences Tools & Services — 0.6%
Thermo Fisher Scientific, Inc.
32,458   9,205,089
Machinery — 1.1%
Cummins, Inc.
24,500   3,315,340
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AST T. ROWE PRICE LARGE-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Machinery (cont’d.)
Illinois Tool Works, Inc.(a)
89,920   $12,779,430
            16,094,770
Media — 2.5%
Comcast Corp. (Class A Stock)
455,176   15,648,951
Fox Corp. (Class B Stock)
550,945   12,605,621
News Corp. (Class A Stock)
951,848   8,542,836
            36,797,408
Multiline Retail — 0.2%
Kohl’s Corp.(a)
190,789   2,783,611
Multi-Utilities — 1.3%
CenterPoint Energy, Inc.
680,275   10,510,249
Sempra Energy
76,574   8,652,096
            19,162,345
Oil, Gas & Consumable Fuels — 7.5%
ConocoPhillips
231,800   7,139,440
Exxon Mobil Corp.
460,733   17,494,032
Occidental Petroleum Corp.(a)
433,822   5,023,659
Pioneer Natural Resources Co.
133,202   9,344,120
TC Energy Corp. (Canada)
711,252   31,508,464
TOTAL SA (France), ADR
1,067,813   39,765,356
            110,275,071
Pharmaceuticals — 6.2%
Elanco Animal Health, Inc.*
361,101   8,085,051
Johnson & Johnson
299,286   39,245,373
Merck & Co., Inc.
120,960   9,306,663
Perrigo Co. PLC
294,044   14,140,576
Pfizer, Inc.
645,637   21,073,592
            91,851,255
Professional Services — 0.5%
Nielsen Holdings PLC(a)
573,738   7,194,675
Semiconductors & Semiconductor Equipment — 5.6%
Applied Materials, Inc.
493,262   22,601,265
NXP Semiconductors NV (Netherlands)
87,100   7,223,203
QUALCOMM, Inc.
509,883   34,493,585
Texas Instruments, Inc.(a)
186,759   18,662,827
            82,980,880
Software — 2.8%
Microsoft Corp.
261,138   41,184,074
Tobacco — 1.7%
Philip Morris International, Inc.
344,669   25,147,050
 
Total Common Stocks

(cost $1,762,050,556)
  1,399,350,472
Preferred Stocks — 1.6%
Electric Utilities — 0.5%
Southern Co. (The), CVT, 6.750%
153,252   6,804,389
Health Care Equipment & Supplies — 0.3%
Becton, Dickinson & Co., Series A, CVT, 6.125%
75,427   3,943,323
      Shares   Value
 
Preferred Stocks (continued)
Multi-Utilities — 0.8%
Sempra Energy, Series A, CVT, 6.000%
104,426   $9,661,493
Sempra Energy, Series B, CVT, 6.750%(a)
24,617   2,312,275
            11,973,768
Pharmaceuticals — 0.0%
Elanco Animal Health, Inc., CVT, 5.000%*(a)
19,492   801,901
 
Total Preferred Stocks

(cost $26,700,013)
  23,523,381
 
Total Long-Term Investments

(cost $1,788,750,569)
  1,422,873,853
Short-Term Investments — 10.4%
Affiliated Mutual Fund — 8.4%
PGIM Institutional Money Market Fund

(cost $124,409,011; includes $124,242,954 of cash collateral for securities on loan)(b)(w)
124,597,842   124,398,486
Unaffiliated Fund — 2.0%
JPMorgan US Government Money Market Fund
29,363,122   29,363,122
(cost $29,363,122)      
 
Total Short-Term Investments

(cost $153,772,133)
  153,761,608
 
TOTAL INVESTMENTS—106.8%

(cost $1,942,522,702)
  1,576,635,461
 
Liabilities in excess of other assets — (6.8)%
  (100,326,296)
 
Net Assets — 100.0%
  $1,476,309,165
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
ADR American Depositary Receipt
CVT Convertible Security
REITs Real Estate Investment Trust
    
* 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 $118,979,732; cash collateral of $124,242,954 (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.
(w) PGIM Investments LLC, the co-manager of the Portfolio, also serves as manager of the PGIM Institutional Money Market Fund.
 
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AST T. ROWE PRICE LARGE-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
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).
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