AST BOND PORTFOLIO 2025

SCHEDULE OF INVESTMENTS as of March 31, 2025 (unaudited)

	Shares		Value
Long-Term Investment — 101.0%
Affiliated Mutual Fund
Fixed Income
AST Target Maturity Central Portfolio* (cost $26,470,263)		2,673,498	$28,579,689
Short-Term Investment — 1.3%
Affiliated Mutual Fund
PGIM Core Ultra Short Bond Fund (cost $372,674)		372,674	372,674
TOTAL INVESTMENTS—102.3% (cost $26,842,937)(wa)			28,952,363
Liabilities in excess of other assets(z) — (2.3)%			(641,332)
Net Assets — 100.0%			$28,311,031

Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
CME	Chicago Mercantile Exchange
SOFR	Secured Overnight Financing Rate

*	Non-income producing security.
(wa)	Represents investments in Funds affiliated with the Manager.
(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, 2025:
Number of Contracts	Type	Expiration Date	Current Notional Amount	Value / Unrealized Appreciation (Depreciation)
Long Positions:
39	3 Month CME SOFR	Sep. 2025	$9,352,200	$(4,951)
8	3 Month CME SOFR	Dec. 2025	1,923,800	(1,115)
				(6,066)
Short Positions:
7	2 Year U.S. Treasury Notes	Jun. 2025	1,450,203	(102)
75	5 Year U.S. Treasury Notes	Jun. 2025	8,111,719	(75,058)
32	10 Year U.S. Treasury Notes	Jun. 2025	3,559,000	(51,426)
24	10 Year U.S. Ultra Treasury Notes	Jun. 2025	2,739,000	(32,267)
35	20 Year U.S. Treasury Bonds	Jun. 2025	4,104,844	(55,454)
19	30 Year U.S. Ultra Treasury Bonds	Jun. 2025	2,322,750	(47,888)
				(262,195)
				$(268,261)

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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