NPORT-EX 2 PIPDMI0ASTQMALargeCapPt.htm
AST QMA LARGE-CAP PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Long-Term Investments — 97.1%
Common Stocks
Aerospace & Defense — 3.5%
Arconic, Inc.
498,500   $8,005,910
General Dynamics Corp.
70,600   9,341,086
Huntington Ingalls Industries, Inc.
15,900   2,897,139
Lockheed Martin Corp.
22,400   7,592,480
Northrop Grumman Corp.
1,700   514,335
United Technologies Corp.
48,800   4,603,304
            32,954,254
Air Freight & Logistics — 0.1%
United Parcel Service, Inc. (Class B Stock)
6,600   616,572
Automobiles — 0.1%
General Motors Co.
42,900   891,462
Banks — 3.2%
Bank of America Corp.
572,600   12,156,298
Citigroup, Inc.
310,000   13,057,200
JPMorgan Chase & Co.
33,600   3,025,008
Popular, Inc. (Puerto Rico)
44,600   1,561,000
Wells Fargo & Co.
24,800   711,760
            30,511,266
Beverages — 2.0%
Coca-Cola Co. (The)
188,100   8,323,425
Keurig Dr. Pepper, Inc.(a)
383,000   9,295,410
Monster Beverage Corp.*
16,000   900,160
            18,518,995
Biotechnology — 3.8%
AbbVie, Inc.(a)
132,400   10,087,556
Alexion Pharmaceuticals, Inc.*
7,900   709,341
Biogen, Inc.*
36,900   11,674,422
Gilead Sciences, Inc.
115,000   8,597,400
Vertex Pharmaceuticals, Inc.*
20,500   4,877,975
            35,946,694
Building Products — 0.9%
American Woodmark Corp.*
7,200   328,104
Johnson Controls International PLC
195,200   5,262,592
Universal Forest Products, Inc.
68,200   2,536,358
            8,127,054
Capital Markets — 2.3%
Affiliated Managers Group, Inc.(a)
32,300   1,910,222
Ameriprise Financial, Inc.
15,200   1,557,696
Goldman Sachs Group, Inc. (The)
51,300   7,930,467
Morgan Stanley
278,600   9,472,400
Stifel Financial Corp.
19,700   813,216
            21,684,001
Chemicals — 2.0%
Cabot Corp.
16,300   425,756
Dow, Inc.
17,600   514,624
DuPont de Nemours, Inc.
154,800   5,278,680
Eastman Chemical Co.
48,800   2,273,104
      Shares   Value
Common Stocks (continued)
Chemicals (cont’d.)
Sherwin-Williams Co. (The)
22,100   $10,155,392
            18,647,556
Commercial Services & Supplies — 0.1%
Steelcase, Inc. (Class A Stock)
69,400   684,978
Construction & Engineering — 0.3%
EMCOR Group, Inc.
50,400   3,090,528
Construction Materials — 0.2%
Eagle Materials, Inc.
24,700   1,442,974
Consumer Finance — 0.5%
Capital One Financial Corp.
81,500   4,109,230
Navient Corp.
127,200   964,176
OneMain Holdings, Inc.
2,500   47,800
            5,121,206
Distributors — 0.7%
LKQ Corp.*
333,600   6,842,136
Diversified Financial Services — 0.7%
Berkshire Hathaway, Inc. (Class B Stock)*
33,900   6,197,937
Diversified Telecommunication Services — 3.4%
AT&T, Inc.
643,400   18,755,110
Verizon Communications, Inc.
243,400   13,077,882
            31,832,992
Electric Utilities — 1.8%
Exelon Corp.
299,000   11,006,190
NRG Energy, Inc.
192,300   5,242,098
Southern Co. (The)
5,000   270,700
            16,518,988
Electrical Equipment — 0.2%
Acuity Brands, Inc.(a)
4,900   419,734
Atkore International Group, Inc.*
81,200   1,710,884
            2,130,618
Electronic Equipment, Instruments & Components — 0.3%
Jabil, Inc.
40,500   995,490
SYNNEX Corp.
25,200   1,842,120
            2,837,610
Entertainment — 0.6%
Electronic Arts, Inc.*
49,400   4,948,398
Walt Disney Co. (The)
6,200   598,920
            5,547,318
Equity Real Estate Investment Trusts (REITs) — 1.3%
Apple Hospitality REIT, Inc.
33,900   310,863
Boston Properties, Inc.
12,900   1,189,767
Brixmor Property Group, Inc.(a)
36,200   343,900
Columbia Property Trust, Inc.
69,200   865,000
CoreCivic, Inc.
74,500   832,165
DiamondRock Hospitality Co.
196,300   997,204
EPR Properties
28,200   683,004
Franklin Street Properties Corp.(a)
45,700   261,861
Gaming & Leisure Properties, Inc.
70,400   1,950,784
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AST QMA LARGE-CAP PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Equity Real Estate Investment Trusts (REITs) (cont’d.)
GEO Group, Inc. (The)
70,100   $852,416
Park Hotels & Resorts, Inc.
49,000   387,590
Retail Properties of America, Inc. (Class A Stock)
146,800   758,956
RLJ Lodging Trust
41,900   323,468
Ryman Hospitality Properties, Inc.
46,200   1,656,270
Service Properties Trust
60,900   328,860
WP Carey, Inc.(a)
7,100   412,368
Xenia Hotels & Resorts, Inc.
35,000   360,500
            12,514,976
Food & Staples Retailing — 0.4%
Walgreens Boots Alliance, Inc.
73,500   3,362,625
Food Products — 2.4%
Archer-Daniels-Midland Co.
81,000   2,849,580
Bunge Ltd.
80,400   3,298,812
Conagra Brands, Inc.
137,000   4,019,580
Kraft Heinz Co. (The)
59,600   1,474,504
Pilgrim’s Pride Corp.*
118,700   2,150,844
Tyson Foods, Inc. (Class A Stock)
158,800   9,189,756
            22,983,076
Gas Utilities — 0.7%
UGI Corp.
237,800   6,342,126
Health Care Equipment & Supplies — 3.4%
DENTSPLY SIRONA, Inc.
129,700   5,036,251
Edwards Lifesciences Corp.*
30,900   5,828,358
Hologic, Inc.*
113,300   3,976,830
Medtronic PLC
153,500   13,842,630
Stryker Corp.
21,800   3,629,482
            32,313,551
Health Care Providers & Services — 4.4%
Anthem, Inc.
26,600   6,039,264
Cigna Corp.
77,100   13,660,578
CVS Health Corp.
137,800   8,175,674
HCA Healthcare, Inc.
19,200   1,725,120
UnitedHealth Group, Inc.
49,100   12,244,558
            41,845,194
Hotels, Restaurants & Leisure — 1.1%
Brinker International, Inc.(a)
32,600   391,526
Hilton Grand Vacations, Inc.*
17,200   271,244
McDonald’s Corp.(a)
55,800   9,226,530
Norwegian Cruise Line Holdings Ltd.*(a)
47,300   518,408
            10,407,708
Household Durables — 0.1%
M/I Homes, Inc.*
12,500   206,625
Meritage Homes Corp.*
18,900   690,039
Whirlpool Corp.(a)
1,000   85,800
            982,464
Household Products — 1.4%
Procter & Gamble Co. (The)
116,700   12,837,000
      Shares   Value
Common Stocks (continued)
Independent Power & Renewable Electricity Producers — 0.7%
Vistra Energy Corp.
429,900   $6,861,204
Industrial Conglomerates — 1.9%
3M Co.
12,100   1,651,771
General Electric Co.
1,687,600   13,399,544
Honeywell International, Inc.
23,600   3,157,444
            18,208,759
Insurance — 2.5%
Allstate Corp. (The)
77,200   7,081,556
American Equity Investment Life Holding Co.
25,300   475,640
American International Group, Inc.
247,000   5,989,750
MetLife, Inc.
322,400   9,855,768
            23,402,714
Interactive Media & Services — 6.0%
Alphabet, Inc. (Class A Stock)*
13,240   15,384,218
Alphabet, Inc. (Class C Stock)*
11,378   13,230,452
Facebook, Inc. (Class A Stock)*
162,300   27,071,640
TripAdvisor, Inc.(a)
53,700   933,843
            56,620,153
Internet & Direct Marketing Retail — 3.8%
Amazon.com, Inc.*
13,300   25,931,276
Booking Holdings, Inc.*
6,800   9,148,176
eBay, Inc.
1,000   30,060
Qurate Retail, Inc. (Class A Stock)*(a)
168,100   1,026,250
            36,135,762
IT Services — 4.5%
Accenture PLC (Class A Stock)
42,200   6,889,572
Cognizant Technology Solutions Corp. (Class A Stock)
193,100   8,973,357
International Business Machines Corp.
27,500   3,050,575
KBR, Inc.
89,100   1,842,588
Leidos Holdings, Inc.
100,700   9,229,155
Perspecta, Inc.
103,400   1,886,016
Visa, Inc. (Class A Stock)(a)
67,900   10,940,048
            42,811,311
Life Sciences Tools & Services — 0.9%
Charles River Laboratories International, Inc.*
1,300   164,073
IQVIA Holdings, Inc.*
59,200   6,385,312
Thermo Fisher Scientific, Inc.
5,900   1,673,240
            8,222,625
Machinery — 0.4%
Oshkosh Corp.
57,200   3,679,676
Media — 0.8%
Discovery, Inc. (Class A Stock)*(a)
118,200   2,297,808
Discovery, Inc. (Class C Stock)*
249,500   4,376,230
ViacomCBS, Inc. (Class B Stock)(a)
66,277   928,541
            7,602,579
Metals & Mining — 0.3%
Nucor Corp.
45,600   1,642,512
 
A2
AST QMA LARGE-CAP PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Common Stocks (continued)
Metals & Mining (cont’d.)
Steel Dynamics, Inc.
36,300   $818,202
            2,460,714
Multiline Retail — 0.7%
Big Lots, Inc.
45,400   645,588
Target Corp.(a)
63,000   5,857,110
            6,502,698
Multi-Utilities — 1.6%
Dominion Energy, Inc.
124,400   8,980,436
MDU Resources Group, Inc.
36,400   782,600
Sempra Energy(a)
50,100   5,660,799
            15,423,835
Oil, Gas & Consumable Fuels — 1.9%
Chevron Corp.
14,900   1,079,654
HollyFrontier Corp.
57,300   1,404,423
Kinder Morgan, Inc.
83,100   1,156,752
Nordic American Tankers Ltd.
201,500   912,795
Phillips 66
101,700   5,456,205
QEP Resources, Inc.
217,300   72,687
SM Energy Co.(a)
200,200   244,244
Valero Energy Corp.(a)
137,900   6,255,144
World Fuel Services Corp.
47,400   1,193,532
            17,775,436
Personal Products — 0.3%
Coty, Inc. (Class A Stock)(a)
640,600   3,305,496
Pharmaceuticals — 3.9%
Bristol-Myers Squibb Co.
282,100   15,724,254
Johnson & Johnson(a)
44,300   5,809,059
Merck & Co., Inc.
202,800   15,603,432
            37,136,745
Real Estate Management & Development — 0.4%
CBRE Group, Inc. (Class A Stock)*
48,400   1,825,164
Jones Lang LaSalle, Inc.(a)
16,700   1,686,366
            3,511,530
Semiconductors & Semiconductor Equipment — 5.6%
Applied Materials, Inc.
231,000   10,584,420
Broadcom, Inc.(a)
15,000   3,556,500
Intel Corp.
359,600   19,461,552
Lam Research Corp.
29,100   6,984,000
Micron Technology, Inc.*
12,700   534,162
NVIDIA Corp.
14,400   3,795,840
QUALCOMM, Inc.
112,700   7,624,155
            52,540,629
Software — 9.8%
Adobe, Inc.*
32,100   10,215,504
Intuit, Inc.
40,700   9,361,000
Microsoft Corp.
359,200   56,649,432
Oracle Corp.
292,900   14,155,857
SS&C Technologies Holdings, Inc.
32,800   1,437,296
            91,819,089
      Shares   Value
Common Stocks (continued)
Specialty Retail — 1.4%
Asbury Automotive Group, Inc.*
2,900   $160,167
AutoNation, Inc.*
27,300   766,038
Best Buy Co., Inc.
33,500   1,909,500
Lowe’s Cos., Inc.
119,200   10,257,160
Sonic Automotive, Inc. (Class A Stock)
40,900   543,152
            13,636,017
Technology Hardware, Storage & Peripherals — 5.9%
Apple, Inc.
216,300   55,002,927
Diebold Nixdorf, Inc.*(a)
73,200   257,664
            55,260,591
Textiles, Apparel & Luxury Goods — 0.2%
Capri Holdings Ltd.*
87,900   948,441
PVH Corp.
27,400   1,031,336
            1,979,777
Tobacco — 1.4%
Altria Group, Inc.
331,700   12,826,839
Trading Companies & Distributors — 0.3%
BMC Stock Holdings, Inc.*
86,300   1,530,099
GMS, Inc.*
60,500   951,665
WESCO International, Inc.*
14,200   324,470
            2,806,234
 
Total Long-Term Investments

(cost $1,071,001,187)
  914,264,272
Short-Term Investments — 7.5%
Affiliated Mutual Funds — 7.2%
PGIM Core Ultra Short Bond Fund(w)
12,286,953   12,286,953
PGIM Institutional Money Market Fund

(cost $55,170,625; includes $55,073,681 of cash collateral for securities on loan)(b)(w)
55,329,203   55,240,676
 
Total Affiliated Mutual Funds

(cost $67,457,578)
  67,527,629
    
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		 
U.S. Treasury Obligation(k)(n) — 0.3%
U.S. Treasury Bills
0.125%   06/18/20     3,100 3,099,296
(cost $3,099,158)      
 
Total Short-Term Investments

(cost $70,556,736)
  70,626,925
 
TOTAL INVESTMENTS—104.6%

(cost $1,141,557,923)
  984,891,197
 
Liabilities in excess of other assets(z) — (4.6)%
  (43,435,405)
 
Net Assets — 100.0%
  $941,455,792
    
 
A3
AST QMA LARGE-CAP PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
REITs Real Estate Investment Trust
S&P Standard & Poor’s
    
* 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 $53,172,370; cash collateral of $55,073,681 (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 is the effective yield at purchase date.
(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.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
Futures contracts outstanding at March 31, 2020:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Position:
66   S&P 500 E-Mini Index   Jun. 2020   $8,480,010   $524,197
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