NPORT-EX 2 PIPDZ01ASTNBLSVMidCapValPt.htm
AST NEUBERGER BERMAN/LSV MID-CAP VALUE PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Long-Term Investments — 90.9%
Common Stocks
Aerospace & Defense — 2.9%
General Dynamics Corp.
43,100   $5,702,561
Hexcel Corp.
43,400   1,614,046
Huntington Ingalls Industries, Inc.
10,400   1,894,984
Moog, Inc. (Class A Stock)
5,000   252,650
Spirit AeroSystems Holdings, Inc. (Class A Stock)
46,700   1,117,531
Textron, Inc.
53,600   1,429,512
            12,011,284
Airlines — 1.2%
Alaska Air Group, Inc.
36,500   1,039,155
American Airlines Group, Inc.(a)
50,300   613,157
JetBlue Airways Corp.*(a)
168,300   1,506,285
United Airlines Holdings, Inc.*(a)
61,200   1,930,860
            5,089,457
Auto Components — 1.4%
Aptiv PLC
64,900   3,195,676
BorgWarner, Inc.
43,500   1,060,095
Goodyear Tire & Rubber Co. (The)
142,800   831,096
Lear Corp.
9,800   796,250
            5,883,117
Automobiles — 0.2%
Harley-Davidson, Inc.(a)
46,200   874,566
Banks — 5.4%
Associated Banc-Corp.
41,200   526,948
BankUnited, Inc.
198,900   3,719,430
CIT Group, Inc.
51,200   883,712
Citizens Financial Group, Inc.
93,900   1,766,259
Comerica, Inc.(a)
101,300   2,972,142
Fifth Third Bancorp
144,700   2,148,795
KeyCorp
401,900   4,167,703
Regions Financial Corp.
328,300   2,944,851
Truist Financial Corp.(a)
41,400   1,276,776
Zions Bancorp NA(a)
72,000   1,926,720
            22,333,336
Beverages — 1.5%
Molson Coors Beverage Co. (Class B Stock)(a)
163,900   6,393,739
Biotechnology — 2.0%
Alexion Pharmaceuticals, Inc.*(a)
83,900   7,533,380
Eagle Pharmaceuticals, Inc.*
19,400   892,400
            8,425,780
Building Products — 1.0%
Johnson Controls International PLC
89,892   2,423,488
Owens Corning
42,800   1,661,068
            4,084,556
Capital Markets — 2.1%
Ameriprise Financial, Inc.
26,800   2,746,464
Ashford, Inc.*
450   2,587
Bank of New York Mellon Corp. (The)
65,700   2,212,776
Prospect Capital Corp.
158,800   674,900
      Shares   Value
Common Stocks (continued)
Capital Markets (cont’d.)
State Street Corp.(a)
60,500   $3,222,835
            8,859,562
Chemicals — 2.4%
Ashland Global Holdings, Inc.
69,400   3,474,858
Celanese Corp.
17,400   1,276,986
Eastman Chemical Co.
37,600   1,751,408
Huntsman Corp.(a)
130,400   1,881,672
LyondellBasell Industries NV (Class A Stock)
31,700   1,573,271
            9,958,195
Commercial Services & Supplies — 1.5%
Covanta Holding Corp.
351,800   3,007,890
Interface, Inc.
94,900   717,444
KAR Auction Services, Inc.(a)
177,400   2,128,800
Pitney Bowes, Inc.(a)
205,300   418,812
            6,272,946
Communications Equipment — 1.4%
Ciena Corp.*
102,200   4,068,582
Juniper Networks, Inc.
81,400   1,557,996
            5,626,578
Construction & Engineering — 0.5%
Valmont Industries, Inc.
17,500   1,854,650
Consumer Finance — 0.7%
Discover Financial Services
45,300   1,615,851
Navient Corp.
140,400   1,064,232
Nelnet, Inc. (Class A Stock)
2,600   118,066
            2,798,149
Containers & Packaging — 1.7%
Greif, Inc. (Class A Stock)(a)
57,300   1,781,457
International Paper Co.
30,200   940,126
O-I Glass, Inc.
166,900   1,186,659
Sealed Air Corp.
53,800   1,329,398
Westrock Co.
70,100   1,981,026
            7,218,666
Diversified Consumer Services — 0.0%
Adtalem Global Education, Inc.*
3,800   101,802
Diversified Financial Services — 0.2%
Banco Latinoamericano de Comercio Exterior SA (Panama) (Class E Stock)(a)
73,900   761,909
Electric Utilities — 4.1%
Edison International(a)
44,600   2,443,634
Evergy, Inc.
125,300   6,897,765
FirstEnergy Corp.
73,400   2,941,138
NRG Energy, Inc.
53,000   1,444,780
PPL Corp.
130,400   3,218,272
            16,945,589
Electrical Equipment — 0.3%
Regal Beloit Corp.
20,400   1,284,180
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AST NEUBERGER BERMAN/LSV MID-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Electronic Equipment, Instruments & Components — 2.2%
Arrow Electronics, Inc.*
26,800   $1,390,116
Belden, Inc.
16,300   588,104
Itron, Inc.*
26,296   1,468,106
Jabil, Inc.
63,300   1,555,914
Methode Electronics, Inc.(a)
36,000   951,480
Sanmina Corp.*
42,200   1,151,216
SYNNEX Corp.
15,500   1,133,050
TTM Technologies, Inc.*(a)
106,345   1,099,607
            9,337,593
Entertainment — 0.7%
Lions Gate Entertainment Corp. (Class A Stock)*(a)
59,650   362,672
Lions Gate Entertainment Corp. (Class B Stock)*(a)
421,750   2,353,365
            2,716,037
Equity Real Estate Investment Trusts (REITs) — 7.0%
Ashford Hospitality Trust, Inc.
198,300   146,583
Braemar Hotels & Resorts, Inc.
25,065   42,611
Brixmor Property Group, Inc.
110,900   1,053,550
City Office REIT, Inc.
107,600   777,948
CoreCivic, Inc.
103,500   1,156,095
Diversified Healthcare Trust(a)
284,784   1,033,766
Franklin Street Properties Corp.(a)
320,400   1,835,892
Gaming & Leisure Properties, Inc.
59,900   1,659,829
Host Hotels & Resorts, Inc.(a)
100,300   1,107,312
Industrial Logistics Properties Trust
64,500   1,131,330
Iron Mountain, Inc.(a)
65,800   1,566,040
Lexington Realty Trust(a)
145,300   1,442,829
Office Properties Income Trust(a)
71,303   1,943,007
Omega Healthcare Investors, Inc.
96,300   2,555,802
Outfront Media, Inc.
173,000   2,332,040
Piedmont Office Realty Trust, Inc. (Class A Stock)
147,600   2,606,616
Retail Value, Inc.
16,098   197,200
Sabra Health Care REIT, Inc.
126,243   1,378,574
Service Properties Trust
134,500   726,300
SITE Centers Corp.
150,850   785,928
Summit Hotel Properties, Inc.
153,600   648,192
Tanger Factory Outlet Centers, Inc.(a)
101,600   508,000
VEREIT, Inc.
249,000   1,217,610
Xenia Hotels & Resorts, Inc.
128,500   1,323,550
            29,176,604
Food & Staples Retailing — 1.1%
BJ’s Wholesale Club Holdings, Inc.*
59,800   1,523,106
Kroger Co. (The)
99,500   2,996,940
            4,520,046
Food Products — 4.7%
Conagra Brands, Inc.
68,700   2,015,658
Hain Celestial Group, Inc. (The)*(a)
192,400   4,996,628
Ingredion, Inc.
8,000   604,000
J.M. Smucker Co. (The)(a)
23,600   2,619,600
Lamb Weston Holdings, Inc.
30,400   1,735,840
TreeHouse Foods, Inc.*(a)
114,800   5,068,420
      Shares   Value
Common Stocks (continued)
Food Products (cont’d.)
Tyson Foods, Inc. (Class A Stock)
45,500   $2,633,085
            19,673,231
Gas Utilities — 0.8%
National Fuel Gas Co.(a)
62,500   2,330,625
UGI Corp.(a)
42,600   1,136,142
            3,466,767
Health Care Equipment & Supplies — 1.3%
Zimmer Biomet Holdings, Inc.(a)
52,200   5,276,376
Health Care Providers & Services — 4.0%
Cardinal Health, Inc.(a)
40,200   1,927,188
DaVita, Inc.*
37,200   2,829,432
Five Star Senior Living, Inc.*
19,296   53,643
HCA Healthcare, Inc.
27,000   2,425,950
McKesson Corp.
18,260   2,469,847
MEDNAX, Inc.*
111,900   1,302,516
Molina Healthcare, Inc.*
9,900   1,383,129
Quest Diagnostics, Inc.(a)
14,300   1,148,290
Tenet Healthcare Corp.*
69,000   993,600
Universal Health Services, Inc. (Class B Stock)
22,500   2,229,300
            16,762,895
Hotels, Restaurants & Leisure — 2.7%
Brinker International, Inc.(a)
97,900   1,175,779
International Game Technology PLC(a)
505,700   3,008,915
MGM Resorts International(a)
244,800   2,888,640
Wyndham Destinations, Inc.
199,500   4,329,150
            11,402,484
Household Durables — 1.3%
D.R. Horton, Inc.
36,500   1,241,000
Ethan Allen Interiors, Inc.
56,239   574,763
PulteGroup, Inc.
68,000   1,517,760
Whirlpool Corp.(a)
23,000   1,973,400
            5,306,923
Household Products — 0.2%
Central Garden & Pet Co. (Class A Stock)*
36,500   933,305
Independent Power & Renewable Electricity Producers — 1.8%
AES Corp.
197,100   2,680,560
Vistra Energy Corp.
311,900   4,977,924
            7,658,484
Insurance — 4.4%
Aflac, Inc.
47,300   1,619,552
Allstate Corp. (The)
28,500   2,614,305
American Financial Group, Inc.
18,600   1,303,488
Axis Capital Holdings Ltd.
10,400   401,960
Everest Re Group Ltd.(a)
6,700   1,289,214
Hartford Financial Services Group, Inc. (The)
53,900   1,899,436
Lincoln National Corp.
100,200   2,637,264
Old Republic International Corp.
71,800   1,094,950
Principal Financial Group, Inc.(a)
43,200   1,353,888
 
A2
AST NEUBERGER BERMAN/LSV MID-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Insurance (cont’d.)
Reinsurance Group of America, Inc.
18,900   $1,590,246
Universal Insurance Holdings, Inc.
52,154   934,600
Unum Group
98,600   1,479,986
            18,218,889
Internet & Direct Marketing Retail — 0.4%
eBay, Inc.
57,400   1,725,444
IT Services — 2.1%
Alliance Data Systems Corp.
15,000   504,750
Amdocs Ltd.(a)
79,000   4,342,630
Conduent, Inc.*
477,200   1,169,140
DXC Technology Co.(a)
82,800   1,080,540
Perspecta, Inc.
37,600   685,824
Western Union Co. (The)
56,600   1,026,158
            8,809,042
Leisure Products — 0.2%
Brunswick Corp.(a)
24,800   877,176
Machinery — 3.1%
AGCO Corp.
37,300   1,762,425
Allison Transmission Holdings, Inc.(a)
45,000   1,467,450
Cummins, Inc.(a)
14,700   1,989,204
ITT, Inc.
38,500   1,746,360
Meritor, Inc.*(a)
113,000   1,497,250
Oshkosh Corp.(a)
30,500   1,962,065
Snap-on, Inc.(a)
8,400   914,088
Trinity Industries, Inc.(a)
52,300   840,461
Wabash National Corp.(a)
122,500   884,450
            13,063,753
Media — 0.6%
AMC Networks, Inc. (Class A Stock)*(a)
61,600   1,497,496
Gannett Co., Inc.
6,376   9,437
TEGNA, Inc.
42,000   456,120
ViacomCBS, Inc. (Class B Stock)(a)
50,204   703,358
            2,666,411
Metals & Mining — 0.9%
Cleveland-Cliffs, Inc.(a)
197,700   780,915
Reliance Steel & Aluminum Co.(a)
18,600   1,629,174
Steel Dynamics, Inc.
55,700   1,255,478
            3,665,567
Mortgage Real Estate Investment Trusts (REITs) — 1.1%
MFA Financial, Inc.
222,200   344,410
PennyMac Mortgage Investment Trust
88,000   934,560
Starwood Property Trust, Inc.
310,700   3,184,675
            4,463,645
Multiline Retail — 0.6%
Big Lots, Inc.
39,000   554,580
Dillard’s, Inc. (Class A Stock)(a)
18,700   690,965
Kohl’s Corp.
47,900   698,861
Macy’s, Inc.(a)
70,400   345,664
            2,290,070
      Shares   Value
Common Stocks (continued)
Multi-Utilities — 1.4%
MDU Resources Group, Inc.(a)
89,167   $1,917,091
Public Service Enterprise Group, Inc.
84,400   3,790,404
            5,707,495
Oil, Gas & Consumable Fuels — 3.2%
Arch Coal, Inc. (Class A Stock)(a)
21,000   606,900
EOG Resources, Inc.
59,100   2,122,872
HollyFrontier Corp.
79,700   1,953,447
Marathon Petroleum Corp.
68,600   1,620,332
ONEOK, Inc.
143,600   3,131,916
Valero Energy Corp.
48,800   2,213,568
Williams Cos., Inc. (The)
104,100   1,473,015
            13,122,050
Paper & Forest Products — 0.3%
Boise Cascade Co.
23,900   568,342
Domtar Corp.(a)
37,700   815,828
            1,384,170
Pharmaceuticals — 0.9%
Jazz Pharmaceuticals PLC*(a)
26,500   2,643,110
Lannett Co., Inc.*(a)
29,200   202,940
Mylan NV*(a)
66,800   995,988
            3,842,038
Professional Services — 0.3%
ManpowerGroup, Inc.
23,600   1,250,564
Semiconductors & Semiconductor Equipment — 3.1%
Amkor Technology, Inc.*
48,200   375,478
Diodes, Inc.*(a)
30,400   1,235,304
Entegris, Inc.(a)
41,300   1,849,001
NXP Semiconductors NV (Netherlands)
26,200   2,172,766
ON Semiconductor Corp.*(a)
101,500   1,262,660
Skyworks Solutions, Inc.(a)
67,300   6,015,274
            12,910,483
Software — 1.8%
Ebix, Inc.
35,900   544,962
Nuance Communications, Inc.*
243,500   4,085,930
Teradata Corp.*(a)
134,429   2,754,450
            7,385,342
Specialty Retail — 2.1%
Aaron’s, Inc.(a)
20,100   457,878
Bed Bath & Beyond, Inc.(a)
101,000   425,210
Best Buy Co., Inc.(a)
47,400   2,701,800
Chico’s FAS, Inc.(a)
536,800   692,472
Children’s Place, Inc. (The)(a)
64,200   1,255,752
Foot Locker, Inc.(a)
43,500   959,175
Group 1 Automotive, Inc.(a)
20,800   920,608
Office Depot, Inc.
269,000   441,160
Penske Automotive Group, Inc.(a)
30,100   842,800
            8,696,855
Technology Hardware, Storage & Peripherals — 2.4%
HP, Inc.
92,600   1,607,536
NCR Corp.*
73,300   1,297,410
 
A3
AST NEUBERGER BERMAN/LSV MID-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Technology Hardware, Storage & Peripherals (cont’d.)
Seagate Technology PLC(a)
43,100   $2,103,280
Western Digital Corp.(a)
83,200   3,462,784
Xerox Holdings Corp.
84,000   1,590,960
            10,061,970
Textiles, Apparel & Luxury Goods — 0.3%
PVH Corp.
28,600   1,076,504
Thrifts & Mortgage Finance — 0.5%
MGIC Investment Corp.
138,300   878,205
Radian Group, Inc.
86,900   1,125,355
            2,003,560
Tobacco — 0.4%
Universal Corp.
41,200   1,821,452
Trading Companies & Distributors — 2.5%
AerCap Holdings NV (Ireland)*
175,500   3,999,645
HD Supply Holdings, Inc.*
121,000   3,440,030
Triton International Ltd. (Bermuda)(a)
54,500   1,409,915
United Rentals, Inc.*
14,100   1,450,890
            10,300,480
 
Total Long-Term Investments

(cost $547,380,079)
  378,351,766
Short-Term Investments — 24.6%
Affiliated Mutual Funds
PGIM Core Ultra Short Bond Fund(w)
4,735,698   4,735,698
PGIM Institutional Money Market Fund

(cost $97,622,127; includes $97,524,472 of cash collateral for securities on loan)(b)(w)
97,778,284   97,621,839
 
Total Short-Term Investments

(cost $102,357,825)
  102,357,537
 
TOTAL INVESTMENTS—115.5%

(cost $649,737,904)
  480,709,303
 
Liabilities in excess of other assets — (15.5)%
  (64,690,783)
 
Net Assets — 100.0%
  $416,018,520
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
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 $94,453,865; cash collateral of $97,524,472 (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 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).
A4