NPORT-EX 2 PIPDBV0ASTMFSLgCapValPt.htm
AST MFS LARGE-CAP VALUE PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2021 (unaudited)
      Shares   Value
Long-Term Investments — 99.2%
Common Stocks
Aerospace & Defense — 3.5%
Lockheed Martin Corp.
55,972   $20,681,654
Northrop Grumman Corp.
131,980   42,714,007
Raytheon Technologies Corp.
191,096   14,765,988
            78,161,649
Banks — 10.4%
Citigroup, Inc.
681,249   49,560,865
JPMorgan Chase & Co.
666,026   101,389,138
PNC Financial Services Group, Inc. (The)
161,710   28,365,551
Truist Financial Corp.
330,270   19,261,346
U.S. Bancorp
579,213   32,036,271
            230,613,171
Beverages — 2.0%
Diageo PLC (United Kingdom)
739,346   30,461,309
PepsiCo, Inc.
101,128   14,304,556
            44,765,865
Building Products — 3.3%
Johnson Controls International PLC
477,216   28,475,479
Masco Corp.
329,625   19,744,538
Trane Technologies PLC
156,331   25,882,160
            74,102,177
Capital Markets — 6.4%
BlackRock, Inc.
41,640   31,394,894
Goldman Sachs Group, Inc. (The)
87,006   28,450,962
Moody’s Corp.
39,922   11,921,109
Morgan Stanley
334,464   25,974,474
Nasdaq, Inc.
247,565   36,505,935
T. Rowe Price Group, Inc.
44,382   7,615,951
            141,863,325
Chemicals — 3.8%
DuPont de Nemours, Inc.
193,556   14,958,008
International Flavors & Fragrances, Inc.
38,973   5,441,021
PPG Industries, Inc.
257,459   38,685,789
Sherwin-Williams Co. (The)
34,131   25,189,019
            84,273,837
Consumer Finance — 1.5%
American Express Co.
228,095   32,261,757
Diversified Telecommunication Services — 0.3%
Verizon Communications, Inc.
115,274   6,703,183
Electric Utilities — 5.1%
American Electric Power Co., Inc.
196,839   16,672,263
Duke Energy Corp.
494,742   47,757,445
Southern Co. (The)
612,306   38,060,941
Xcel Energy, Inc.
172,244   11,455,949
            113,946,598
Electrical Equipment — 1.6%
Eaton Corp. PLC
254,886   35,245,636
      Shares   Value
Common Stocks (continued)
Equity Real Estate Investment Trusts (REITs) — 0.3%
Public Storage
31,591   $7,795,395
Food Products — 2.4%
Archer-Daniels-Midland Co.
208,706   11,896,242
J.M. Smucker Co. (The)(a)
47,721   6,038,138
Nestle SA (Switzerland)
311,375   34,710,372
            52,644,752
Health Care Equipment & Supplies — 6.6%
Abbott Laboratories
291,927   34,984,532
Boston Scientific Corp.*
542,693   20,975,084
Danaher Corp.
151,857   34,179,974
Medtronic PLC
472,156   55,775,788
            145,915,378
Health Care Providers & Services — 3.3%
Cigna Corp.
216,989   52,454,921
McKesson Corp.
109,827   21,420,658
            73,875,579
Hotels, Restaurants & Leisure — 0.4%
Marriott International, Inc. (Class A Stock)*
56,139   8,314,747
Household Products — 2.1%
Colgate-Palmolive Co.
181,214   14,285,100
Kimberly-Clark Corp.
126,912   17,647,114
Reckitt Benckiser Group PLC (United Kingdom)
152,230   13,662,641
            45,594,855
Industrial Conglomerates — 2.7%
Honeywell International, Inc.
276,311   59,978,829
Insurance — 8.6%
Aon PLC (Class A Stock)(a)
225,050   51,786,256
Chubb Ltd.
286,365   45,237,079
Marsh & McLennan Cos., Inc.
329,442   40,126,036
Progressive Corp. (The)
212,061   20,275,152
Travelers Cos., Inc. (The)
219,016   32,940,006
            190,364,529
IT Services — 5.2%
Accenture PLC (Class A Stock)
199,455   55,099,444
Fidelity National Information Services, Inc.
190,907   26,843,433
Fiserv, Inc.*
270,136   32,156,989
            114,099,866
Life Sciences Tools & Services — 1.7%
Thermo Fisher Scientific, Inc.
84,869   38,732,514
Machinery — 3.3%
Illinois Tool Works, Inc.
173,689   38,475,587
Otis Worldwide Corp.
95,548   6,540,261
Stanley Black & Decker, Inc.
138,054   27,565,242
            72,581,090
Media — 3.2%
Comcast Corp. (Class A Stock)
1,322,192   71,543,809
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AST MFS LARGE-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2021 (unaudited)
      Shares   Value
Common Stocks (continued)
Multi-Utilities — 1.4%
Dominion Energy, Inc.
405,319   $30,788,031
Oil, Gas & Consumable Fuels — 2.4%
Chevron Corp.
122,945   12,883,407
ConocoPhillips
327,120   17,327,546
EOG Resources, Inc.
171,810   12,461,379
Pioneer Natural Resources Co.
72,529   11,519,056
            54,191,388
Pharmaceuticals — 7.0%
Johnson & Johnson
505,677   83,108,015
Merck & Co., Inc.
387,070   29,839,226
Pfizer, Inc.
884,876   32,059,058
Roche Holding AG (Switzerland)
27,988   9,044,893
            154,051,192
Professional Services — 1.0%
Equifax, Inc.
122,096   22,115,249
Road & Rail — 2.2%
Canadian National Railway Co. (Canada)
122,214   14,174,380
Union Pacific Corp.
153,489   33,830,510
            48,004,890
Semiconductors & Semiconductor Equipment — 5.4%
Analog Devices, Inc.
108,155   16,772,677
Intel Corp.
346,000   22,144,000
NXP Semiconductors NV (Netherlands)
100,544   20,243,529
Texas Instruments, Inc.
323,007   61,045,093
            120,205,299
Specialty Retail — 1.6%
Lowe’s Cos., Inc.
181,007   34,423,911
Tobacco — 0.5%
Philip Morris International, Inc.
114,036   10,119,555
 
Total Long-Term Investments

(cost $1,670,230,466)
  2,197,278,056
      Shares   Value
 
Short-Term Investment — 2.6%
Affiliated Mutual Fund
PGIM Institutional Money Market Fund

(cost $57,287,632; includes $57,281,913 of cash collateral for securities on loan)(b)(we)
57,316,290   $57,287,632
 
TOTAL INVESTMENTS—101.8%

(cost $1,727,518,098)
  2,254,565,688
 
Liabilities in excess of other assets — (1.8)%
  (39,957,625)
 
Net Assets — 100.0%
  $2,214,608,063
    
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 $55,634,605; cash collateral of $57,281,913 (included in liabilities) was received with which the Portfolio purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Portfolio may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day.
(b) Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.
(we) PGIM Investments LLC, the co-manager of the Portfolio, also serves as manager of the 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).
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