# EDGAR Filing Document

**Accession Number:** 0000814679
**File Stem:** 0000940400-26-021398
**Filing Date:** 2026-5
**Character Count:** 144493
**Document Hash:** b137eb1bb15fe3b7675569b83fa592c3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021398.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0000940400-26-021398

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVANCED SERIES TRUST
- **CENTRAL INDEX KEY:** 0000814679

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05186
- **FILM NUMBER:** 261024886

**BUSINESS ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102
- **BUSINESS PHONE:** (973) 367-8982

**MAIL ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN SKANDIA TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HENDERSON INTERNATIONAL GROWTH FUND
- **DATE OF NAME CHANGE:** 19920506

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HENDERSON GLOBAL ASSET TRUST
- **DATE OF NAME CHANGE:** 19900302

## Series and Classes Contracts Data

### AST J.P. Morgan Moderate Multi-Asset Portfolio (Series ID: S000019378)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000053817 | AST J.P. Morgan Moderate Multi-Asset Portfolio |  |

## Nport-Ex

AST J.P. MORGAN MODERATE MULTI-ASSET PORTFOLIO

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of March 31, 2026 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments — 91.9%** | **Long-Term Investments — 91.9%** | **Long-Term Investments — 91.9%** |
| **Affiliated Mutual Fund — 35.9%** | **Affiliated Mutual Fund — 35.9%** | **Affiliated Mutual Fund — 35.9%** |
| **Fixed Income** | **Fixed Income** | **Fixed Income** |
| &nbsp;&nbsp;&nbsp;AST J.P. Morgan Fixed Income Central Portfolio\* | 55405100 | &nbsp;&nbsp;&nbsp;&nbsp;$646023464 |
| &nbsp;&nbsp;&nbsp;(cost $592,130,263)(wa) |  |  |
| **Common Stocks — 12.6%** | **Common Stocks — 12.6%** | **Common Stocks — 12.6%** |
| **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** | **Aerospace & Defense — 0.5%** |
| &nbsp;&nbsp;&nbsp;Hanwha Aerospace Co. Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215332 |
| &nbsp;&nbsp;&nbsp;Karman Holdings, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650086 |
| &nbsp;&nbsp;&nbsp;Loar Holdings, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111254 |
| &nbsp;&nbsp;&nbsp;Safran SA (France) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084804 |
| &nbsp;&nbsp;&nbsp;Woodward, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8297345 |
| **Automobile Components — 0.2%** | **Automobile Components — 0.2%** | **Automobile Components — 0.2%** |
| &nbsp;&nbsp;&nbsp;Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396119 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries Ltd. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2806912 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203031 |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| &nbsp;&nbsp;&nbsp;Kia Corp. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541632 |
| **Banks — 1.9%** | **Banks — 1.9%** | **Banks — 1.9%** |
| &nbsp;&nbsp;&nbsp;Al Rajhi Bank (Saudi Arabia) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912715 |
| &nbsp;&nbsp;&nbsp;BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698038 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948970 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123234 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings Ltd. (Singapore) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592940 |
| &nbsp;&nbsp;&nbsp;First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732519 |
| &nbsp;&nbsp;&nbsp;First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569628 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970987 |
| &nbsp;&nbsp;&nbsp;First Interstate BancSystem, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750565 |
| &nbsp;&nbsp;&nbsp;HDFC Bank Ltd. (India), ADR | &nbsp;&nbsp;&nbsp;&nbsp;100866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2509546 |
| &nbsp;&nbsp;&nbsp;KBC Group NV (Belgium) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2668268 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;237200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4016729 |
| &nbsp;&nbsp;&nbsp;National Bank of Greece SA (Greece) | &nbsp;&nbsp;&nbsp;&nbsp;107651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662980 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;246597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826778 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3436165 |
| &nbsp;&nbsp;&nbsp;Sberbank of Russia PJSC (Russia)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Sberbank of Russia PJSC (Russia), ADR\*^(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| &nbsp;&nbsp;&nbsp;ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747673 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649328 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2274422 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073867 |
| &nbsp;&nbsp;&nbsp;WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797892 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33963246 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;Primo Brands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851530 |
| **Broadline Retail — 0.2%** | **Broadline Retail — 0.2%** | **Broadline Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. (China) | &nbsp;&nbsp;&nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103549 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Broadline Retail (cont'd.)** | **Broadline Retail (cont'd.)** | **Broadline Retail (cont'd.)** |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc. (Brazil)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1244894 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4348443 |
| **Building Products — 0.3%** | **Building Products — 0.3%** | **Building Products — 0.3%** |
| &nbsp;&nbsp;&nbsp;AAON, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;7558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625424 |
| &nbsp;&nbsp;&nbsp;Hayward Holdings, Inc.\* | 100974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351032 |
| &nbsp;&nbsp;&nbsp;Janus International Group, Inc.\* | 110079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566907 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing Co.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;5930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285090 |
| &nbsp;&nbsp;&nbsp;SAL TopCo LLC\*^ | 817799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650440 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4478975 |
| **Capital Markets — 0.4%** | **Capital Markets — 0.4%** | **Capital Markets — 0.4%** |
| &nbsp;&nbsp;&nbsp;3i Group PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;36541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190908 |
| &nbsp;&nbsp;&nbsp;Evercore, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;&nbsp;3925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171652 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024856 |
| &nbsp;&nbsp;&nbsp;Miami International Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;20927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814479 |
| &nbsp;&nbsp;&nbsp;Moelis & Co. (Class A Stock) | &nbsp;&nbsp;&nbsp;13183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751431 |
| &nbsp;&nbsp;&nbsp;Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024612 |
| &nbsp;&nbsp;&nbsp;Ridgepost Capital, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;32760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237838 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;22616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079235 |
| &nbsp;&nbsp;&nbsp;Wealthfront Corp.\*(a) | &nbsp;&nbsp;&nbsp;53666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7791421 |
| **Chemicals — 0.5%** | **Chemicals — 0.5%** | **Chemicals — 0.5%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA (France) | &nbsp;&nbsp;&nbsp;15316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165794 |
| &nbsp;&nbsp;&nbsp;Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891804 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. | &nbsp;&nbsp;&nbsp;40621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386801 |
| &nbsp;&nbsp;&nbsp;Novonesis Novozymes B (Denmark) | &nbsp;&nbsp;&nbsp;25053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488428 |
| &nbsp;&nbsp;&nbsp;Perimeter Solutions, Inc.\* | &nbsp;&nbsp;&nbsp;31593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771501 |
| &nbsp;&nbsp;&nbsp;Quaker Chemical Corp.(a) | &nbsp;&nbsp;&nbsp;&nbsp;4078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506610 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials, Inc. | &nbsp;&nbsp;&nbsp;10899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830068 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9041006 |
| **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc. (Class A Stock)\*(a) | &nbsp;&nbsp;&nbsp;12839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018646 |
| &nbsp;&nbsp;&nbsp;MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243725 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2262371 |
| **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Digi International, Inc.\* | &nbsp;&nbsp;&nbsp;12296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592667 |
| **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** |
| &nbsp;&nbsp;&nbsp;Legence Corp. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;8108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457778 |
| &nbsp;&nbsp;&nbsp;Obayashi Corp. (Japan) | 114000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761133 |
| &nbsp;&nbsp;&nbsp;WillScot Holdings Corp.(a) | &nbsp;&nbsp;&nbsp;58944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023268 |
| &nbsp;&nbsp;&nbsp;WSP Global, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;9630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1498738 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5740917 |
| **Construction Materials — 0.0%** | **Construction Materials — 0.0%** | **Construction Materials — 0.0%** |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;4043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765946 |
| **Consumer Finance — 0.1%** | **Consumer Finance — 0.1%** | **Consumer Finance — 0.1%** |
| &nbsp;&nbsp;&nbsp;Bajaj Finance Ltd. (India) | 165545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416516 |
| &nbsp;&nbsp;&nbsp;Figure Technology Solutions, Inc. (Class A Stock)\*(a) | &nbsp;&nbsp;&nbsp;12674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430283 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846799 |

---

A1

------

AST J.P. MORGAN MODERATE MULTI-ASSET PORTFOLIO (continued)

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of March 31, 2026 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$204714 |
| &nbsp;&nbsp;&nbsp;Chefs' Warehouse, Inc. (The)\* | &nbsp;&nbsp;&nbsp;12139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721663 |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co.\* | &nbsp;&nbsp;&nbsp;&nbsp;8961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767599 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693976 |
| **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** |
| &nbsp;&nbsp;&nbsp;AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443590 |
| **Distributors — 0.1%** | **Distributors — 0.1%** | **Distributors — 0.1%** |
| &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946297 |
| **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc.\* | &nbsp;&nbsp;&nbsp;13770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130930 |
| &nbsp;&nbsp;&nbsp;Driven Brands Holdings, Inc.\*(a) | &nbsp;&nbsp;&nbsp;24626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310534 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441464 |
| **Diversified Telecommunication Services — 0.3%** | **Diversified Telecommunication Services — 0.3%** | **Diversified Telecommunication Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG (Germany) | &nbsp;&nbsp;&nbsp;72509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2706273 |
| &nbsp;&nbsp;&nbsp;Telstra Group Ltd. (Australia) | 707434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2611570 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5317843 |
| **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717672 |
| **Electrical Equipment — 0.2%** | **Electrical Equipment — 0.2%** | **Electrical Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp;Forgent Power Solutions, Inc.\*(a) | &nbsp;&nbsp;&nbsp;23052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674732 |
| &nbsp;&nbsp;&nbsp;Legrand SA (France) | &nbsp;&nbsp;&nbsp;18723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2908705 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3583437 |
| **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** |
| &nbsp;&nbsp;&nbsp;Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134398 |
| &nbsp;&nbsp;&nbsp;Bel Fuse, Inc. (Class B Stock) | &nbsp;&nbsp;&nbsp;&nbsp;3707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733912 |
| &nbsp;&nbsp;&nbsp;Fabrinet (Thailand)\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;2328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214099 |
| &nbsp;&nbsp;&nbsp;Novanta, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;9376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4189808 |
| **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;Cactus, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;14981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709650 |
| &nbsp;&nbsp;&nbsp;Flowco Holdings, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;26913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554408 |
| &nbsp;&nbsp;&nbsp;Liberty Energy, Inc. | &nbsp;&nbsp;&nbsp;17055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491184 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1755242 |
| **Food Products — 0.2%** | **Food Products — 0.2%** | **Food Products — 0.2%** |
| &nbsp;&nbsp;&nbsp;Freshpet, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;9815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578692 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;32453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3183349 |
| &nbsp;&nbsp;&nbsp;Utz Brands, Inc. | &nbsp;&nbsp;&nbsp;70539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558669 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4320710 |
| **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp;Landstar System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589460 |
| &nbsp;&nbsp;&nbsp;Saia, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;2011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706424 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295884 |
| **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp.\* | &nbsp;&nbsp;&nbsp;42326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073810 |
| &nbsp;&nbsp;&nbsp;ICU Medical, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;6591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851228 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925038 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Health Care Providers & Services — 0.2%** | **Health Care Providers & Services — 0.2%** | **Health Care Providers & Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$723750 |
| &nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;&nbsp;36283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778270 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918742 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc.\* | &nbsp;&nbsp;&nbsp;11626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971585 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;1115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3540976 |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| &nbsp;&nbsp;&nbsp;Doximity, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372800 |
| **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties, Inc.(a) | &nbsp;&nbsp;&nbsp;11899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097921 |
| **Hotels, Restaurants & Leisure — 0.3%** | **Hotels, Restaurants & Leisure — 0.3%** | **Hotels, Restaurants & Leisure — 0.3%** |
| &nbsp;&nbsp;&nbsp;Compass Group PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;75416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2104177 |
| &nbsp;&nbsp;&nbsp;Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656772 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;13875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032023 |
| &nbsp;&nbsp;&nbsp;Shake Shack, Inc. (Class A Stock)\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;7571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669806 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;12249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994986 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5457764 |
| **Household Durables — 0.3%** | **Household Durables — 0.3%** | **Household Durables — 0.3%** |
| &nbsp;&nbsp;&nbsp;Midea Group Co. Ltd. (China) (Class H Stock) | 142400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532528 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. (Japan) | 162300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3382776 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4915304 |
| **Industrial Conglomerates — 0.2%** | **Industrial Conglomerates — 0.2%** | **Industrial Conglomerates — 0.2%** |
| &nbsp;&nbsp;&nbsp;Siemens AG (Germany) | &nbsp;&nbsp;&nbsp;15895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3872564 |
| **Industrial REITs — 0.0%** | **Industrial REITs — 0.0%** | **Industrial REITs — 0.0%** |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598396 |
| **Insurance — 0.6%** | **Insurance — 0.6%** | **Insurance — 0.6%** |
| &nbsp;&nbsp;&nbsp;Accelerant Holdings (Cayman Islands) (Class A Stock)\* | &nbsp;&nbsp;&nbsp;29236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390593 |
| &nbsp;&nbsp;&nbsp;AIA Group Ltd. (Hong Kong) | 216200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2402269 |
| &nbsp;&nbsp;&nbsp;Intact Financial Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;7881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1428109 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;3009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028055 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany) | &nbsp;&nbsp;&nbsp;&nbsp;5659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3573892 |
| &nbsp;&nbsp;&nbsp;Neptune Insurance Holdings, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;24562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594155 |
| &nbsp;&nbsp;&nbsp;RLI Corp.(a) | &nbsp;&nbsp;&nbsp;&nbsp;8076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460655 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9877728 |
| **Interactive Media & Services — 0.2%** | **Interactive Media & Services — 0.2%** | **Interactive Media & Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. (China) | &nbsp;&nbsp;&nbsp;63900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4030325 |
| **IT Services — 0.0%** | **IT Services — 0.0%** | **IT Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;DigitalOcean Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;3965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340118 |
| **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** |
| &nbsp;&nbsp;&nbsp;Acushnet Holdings Corp.(a) | &nbsp;&nbsp;&nbsp;&nbsp;6843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639684 |
| **Life Sciences Tools & Services — 0.0%** | **Life Sciences Tools & Services — 0.0%** | **Life Sciences Tools & Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Medpace Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438894 |
| **Machinery — 0.7%** | **Machinery — 0.7%** | **Machinery — 0.7%** |
| &nbsp;&nbsp;&nbsp;Alliance Laundry Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;28588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592915 |

---

A2

------

AST J.P. MORGAN MODERATE MULTI-ASSET PORTFOLIO (continued)

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of March 31, 2026 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Machinery (cont'd.)** | **Machinery (cont'd.)** | **Machinery (cont'd.)** |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB (Sweden) (Class A Stock) | 162078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2860162 |
| &nbsp;&nbsp;&nbsp;Hillman Solutions Corp.\* | &nbsp;&nbsp;&nbsp;92424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768968 |
| &nbsp;&nbsp;&nbsp;IHI Corp. (Japan) | &nbsp;&nbsp;&nbsp;66200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365905 |
| &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550218 |
| &nbsp;&nbsp;&nbsp;Middleby Corp. (The)\* | &nbsp;&nbsp;&nbsp;&nbsp;6493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860842 |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;2194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191605 |
| &nbsp;&nbsp;&nbsp;Volvo AB (Sweden) (Class B Stock)(a) | &nbsp;&nbsp;&nbsp;73279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409364 |
| &nbsp;&nbsp;&nbsp;XCMG Construction Machinery Co. Ltd. (China) (Class A Stock) | 704800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040739 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11640718 |
| **Metals & Mining — 0.3%** | **Metals & Mining — 0.3%** | **Metals & Mining — 0.3%** |
| &nbsp;&nbsp;&nbsp;GMK Norilskiy Nickel PAO (Russia)\*^ | 143900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;GMK Norilskiy Nickel PAO (Russia), ADR\*^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Magnitogorsk Iron & Steel Works PJSC (Russia)\*^ | 112615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC (Australia) | &nbsp;&nbsp;&nbsp;35771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3318609 |
| &nbsp;&nbsp;&nbsp;Severstal PAO (Russia), GDR\*^ | &nbsp;&nbsp;&nbsp;11949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;Zijin Mining Group Co. Ltd. (China) (Class H Stock) | 452000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2033322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5351932 |
| **Multi-Utilities — 0.3%** | **Multi-Utilities — 0.3%** | **Multi-Utilities — 0.3%** |
| &nbsp;&nbsp;&nbsp;Engie SA (France) | 147185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4743398 |
| **Oil, Gas & Consumable Fuels — 0.6%** | **Oil, Gas & Consumable Fuels — 0.6%** | **Oil, Gas & Consumable Fuels — 0.6%** |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd. (Canada) | &nbsp;&nbsp;&nbsp;30691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497154 |
| &nbsp;&nbsp;&nbsp;DT Midstream, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;5489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739204 |
| &nbsp;&nbsp;&nbsp;Gazprom PJSC (Russia)\*^ | 165440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Novatek PJSC (Russia)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;5822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;Rosneft Oil Co. PJSC (Russia)\*^ | &nbsp;&nbsp;&nbsp;30688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Shell PLC | 150730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6981066 |
| &nbsp;&nbsp;&nbsp;SM Energy Co. | &nbsp;&nbsp;&nbsp;30567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10170504 |
| **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** |
| &nbsp;&nbsp;&nbsp;elf Beauty, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;8994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545126 |
| **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;17625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705340 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;7068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820774 |
| &nbsp;&nbsp;&nbsp;UCB SA (Belgium) | &nbsp;&nbsp;&nbsp;&nbsp;3775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6663509 |
| **Professional Services — 0.2%** | **Professional Services — 0.2%** | **Professional Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Andersen Group, Inc. (Class A Stock)\*(a) | &nbsp;&nbsp;&nbsp;17589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478421 |
| &nbsp;&nbsp;&nbsp;First Advantage Corp.\*(a) | &nbsp;&nbsp;&nbsp;53128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624785 |
| &nbsp;&nbsp;&nbsp;Paylocity Holding Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;6357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686811 |
| &nbsp;&nbsp;&nbsp;RELX PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;46464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547412 |
| &nbsp;&nbsp;&nbsp;Verra Mobility Corp.\* | &nbsp;&nbsp;&nbsp;44479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635605 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3973034 |
| **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |
| &nbsp;&nbsp;&nbsp;Colliers International Group, Inc. (Canada) | &nbsp;&nbsp;&nbsp;10958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171301 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Real Estate Management & Development (cont'd.)** | **Real Estate Management & Development (cont'd.)** | **Real Estate Management & Development (cont'd.)** |
| &nbsp;&nbsp;&nbsp;Cushman & Wakefield Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;81973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1004989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2176290 |
| **Semiconductors & Semiconductor Equipment — 1.2%** | **Semiconductors & Semiconductor Equipment — 1.2%** | **Semiconductors & Semiconductor Equipment — 1.2%** |
| &nbsp;&nbsp;&nbsp;Allegro MicroSystems, Inc. (Japan)\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;26169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825109 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (Netherlands) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3527844 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG (Germany) | &nbsp;&nbsp;&nbsp;&nbsp;46715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2119279 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116790 |
| &nbsp;&nbsp;&nbsp;Power Integrations, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;17036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872243 |
| &nbsp;&nbsp;&nbsp;SK hynix, Inc. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310575 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4915935 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan), ADR | &nbsp;&nbsp;&nbsp;&nbsp;13929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4707306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21395081 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| &nbsp;&nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;76068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456408 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521830 |
| &nbsp;&nbsp;&nbsp;nCino, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;26143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391622 |
| &nbsp;&nbsp;&nbsp;Qualys, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506455 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2272449 |
| **Specialty Retail — 0.0%** | **Specialty Retail — 0.0%** | **Specialty Retail — 0.0%** |
| &nbsp;&nbsp;&nbsp;Five Below, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337008 |
| &nbsp;&nbsp;&nbsp;Warby Parker, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;20956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441543 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778551 |
| **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** |
| &nbsp;&nbsp;&nbsp;Asics Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;47100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266289 |
| **Tobacco — 0.2%** | **Tobacco — 0.2%** | **Tobacco — 0.2%** |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;47313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2746937 |
| **Trading Companies & Distributors — 0.3%** | **Trading Companies & Distributors — 0.3%** | **Trading Companies & Distributors — 0.3%** |
| &nbsp;&nbsp;&nbsp;Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105058 |
| &nbsp;&nbsp;&nbsp;Core & Main, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;21633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068670 |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. (Japan) | &nbsp;&nbsp;&nbsp;177600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259159 |
| &nbsp;&nbsp;&nbsp;Xometry, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393371 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4826258 |
| **Total Common Stocks<br>(cost $209,145,580)<br>** | **Total Common Stocks<br>(cost $209,145,580)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227088840 |
| **Preferred Stock — 0.1%** | **Preferred Stock — 0.1%** | **Preferred Stock — 0.1%** |
| **Banks** | **Banks** | **Banks** |
| &nbsp;&nbsp;&nbsp;Itausa SA (Brazil) (PRFC) | &nbsp;&nbsp;&nbsp;680241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1828037 |
| &nbsp;&nbsp;&nbsp;(cost $1,913,033) |  |  |
| **Unaffiliated Exchange-Traded Funds — 41.0%** | **Unaffiliated Exchange-Traded Funds — 41.0%** | **Unaffiliated Exchange-Traded Funds — 41.0%** |
| &nbsp;&nbsp;&nbsp;JPMorgan Active Growth ETF | 1712774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144763658 |
| &nbsp;&nbsp;&nbsp;JPMorgan Active Value ETF(a) | 2030294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145673595 |
| &nbsp;&nbsp;&nbsp;JPMorgan Global Select Equity ETF(a) | 5595273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365203469 |

---

A3

------

AST J.P. MORGAN MODERATE MULTI-ASSET PORTFOLIO (continued)

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of March 31, 2026 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Unaffiliated Exchange-Traded Funds (continued)** | **Unaffiliated Exchange-Traded Funds (continued)** | **Unaffiliated Exchange-Traded Funds (continued)** |
| &nbsp;&nbsp;&nbsp;JPMorgan Ultra-Short Income ETF | 1641733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$83088107 |
| **Total Unaffiliated Exchange-Traded Funds<br>(cost $715,838,484)<br>** | **Total Unaffiliated Exchange-Traded Funds<br>(cost $715,838,484)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738728829 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal<br> Amount<br> (000)#** |  |
| **Floating Rate and Other Loans — 0.0%** | **Floating Rate and Other Loans — 0.0%** | **Floating Rate and Other Loans — 0.0%** | **Floating Rate and Other Loans — 0.0%** |
| **Foods** | **Foods** | **Foods** | **Foods** |
| Moran Foods LLC, | Moran Foods LLC, | Moran Foods LLC, | Moran Foods LLC, |
| &nbsp;&nbsp;&nbsp;2023 First Lien FLFO PIK Term Loan, 3 Month SOFR + 11.352% | &nbsp;&nbsp;&nbsp;2023 First Lien FLFO PIK Term Loan, 3 Month SOFR + 11.352% | &nbsp;&nbsp;&nbsp;2023 First Lien FLFO PIK Term Loan, 3 Month SOFR + 11.352% | &nbsp;&nbsp;&nbsp;2023 First Lien FLFO PIK Term Loan, 3 Month SOFR + 11.352% |
| &nbsp;&nbsp;&nbsp;15.023%(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06/30/26^ | &nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57082 |
| &nbsp;&nbsp;&nbsp;First Lien A R 2023 FLSO PIK Term Loan, 3 Month SOFR + 11.022% | &nbsp;&nbsp;&nbsp;First Lien A R 2023 FLSO PIK Term Loan, 3 Month SOFR + 11.022% | &nbsp;&nbsp;&nbsp;First Lien A R 2023 FLSO PIK Term Loan, 3 Month SOFR + 11.022% | &nbsp;&nbsp;&nbsp;First Lien A R 2023 FLSO PIK Term Loan, 3 Month SOFR + 11.022% |
| &nbsp;&nbsp;&nbsp;14.694%(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06/30/26^ | &nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Super Senior Delayed Draw Term Loan, 1 Month SOFR + 11.600% | &nbsp;&nbsp;&nbsp;Super Senior Delayed Draw Term Loan, 1 Month SOFR + 11.600% | &nbsp;&nbsp;&nbsp;Super Senior Delayed Draw Term Loan, 1 Month SOFR + 11.600% | &nbsp;&nbsp;&nbsp;Super Senior Delayed Draw Term Loan, 1 Month SOFR + 11.600% |
| &nbsp;&nbsp;&nbsp;16.909%(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06/30/26^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6041 |
| **Total Floating Rate and Other Loans<br>(cost $365,762)<br>** | **Total Floating Rate and Other Loans<br>(cost $365,762)<br>** | **Total Floating Rate and Other Loans<br>(cost $365,762)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63123 |
| **U.S. Treasury Obligation(k) — 2.3%** | **U.S. Treasury Obligation(k) — 2.3%** | **U.S. Treasury Obligation(k) — 2.3%** | **U.S. Treasury Obligation(k) — 2.3%** |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp;&nbsp;4.125% | &nbsp;&nbsp;&nbsp;&nbsp;01/31/27 | 40369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40491999 |
| &nbsp;&nbsp;&nbsp;(cost $40,550,474) | &nbsp;&nbsp;&nbsp;(cost $40,550,474) |  |  |
| **Total Long-Term Investments—91.9%<br>(cost $1,559,943,596)<br>** | **Total Long-Term Investments—91.9%<br>(cost $1,559,943,596)<br>** | **Total Long-Term Investments—91.9%<br>(cost $1,559,943,596)<br>** | 1654224292 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** |  |
| **Short-Term Investments — 8.2%** | **Short-Term Investments — 8.2%** | **Short-Term Investments — 8.2%** |
| **Affiliated Mutual Funds** | **Affiliated Mutual Funds** | **Affiliated Mutual Funds** |
| &nbsp;&nbsp;&nbsp;PGIM Core Ultra Short Bond Fund(wa) | 128803768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128803768 |
| &nbsp;&nbsp;&nbsp;PGIM Institutional Money Market Fund (7-day effective yield 3.829%)<br>(cost $18,474,396; includes $18,414,523 of cash collateral for securities on loan)(b)(wa) | &nbsp;&nbsp;&nbsp;18488664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18475722 |
| **Total Short-Term Investments<br>(cost $147,278,164)<br>** | **Total Short-Term Investments<br>(cost $147,278,164)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147279490 |
| **TOTAL INVESTMENTS—100.1%<br>(cost $1,707,221,760)<br>** | **TOTAL INVESTMENTS—100.1%<br>(cost $1,707,221,760)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;1801503782 |
| **Liabilities in excess of other assets(z) — (0.1)%<br>** | **Liabilities in excess of other assets(z) — (0.1)%<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1402699) |
| **Net Assets — 100.0%<br>** | **Net Assets — 100.0%<br>** | &nbsp;&nbsp;&nbsp;$1800101083 |

---

Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: <br> AUD Australian Dollar <br> CHF Swiss Franc

---

| | |
|:---|:---|
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| BARC | Barclays Bank PLC |
| BTP | Buoni del Tesoro Poliennali |
| CITI | Citibank, N.A. |
| DJ | Dow Jones |
| EAFE | Europe, Australasia, Far East |
| ETF | Exchange-Traded Fund |
| GDR | Global Depositary Receipt |
| ML | Merrill Lynch International |
| MSCI | Morgan Stanley Capital International |
| OTC | Over-the-counter |
| PIK | Payment-in-Kind |
| PJSC | Public Joint-Stock Company |
| PRFC | Preference Shares |
| REITs | Real Estate Investment Trust |
| S&P | Standard & Poor's |
| SOFR | Secured Overnight Financing Rate |
| TOPIX | Tokyo Stock Price Index |

---

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| # | Principal amount is shown in U.S. dollars unless otherwise stated. |
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $63,209 and 0.0% of net assets. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $18,675,766; cash collateral of $18,414,523 (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. |
| (c) | Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2026. |
| (k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
| (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: |

---

A4

------

AST J.P. MORGAN MODERATE MULTI-ASSET PORTFOLIO (continued)

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of March 31, 2026 (unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at March 31, 2026:** | **Futures contracts outstanding at March 31, 2026:** | **Futures contracts outstanding at March 31, 2026:** | **Futures contracts outstanding at March 31, 2026:** | **Futures contracts outstanding at March 31, 2026:** |
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;**Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** |
| 716 | &nbsp;&nbsp;10 Year U.K. Gilt | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;$83198372 | &nbsp;&nbsp;$(4546338) |
| 519 | &nbsp;&nbsp;10 Year U.S. Treasury Notes | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57633331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(805809) |
| 463 | &nbsp;&nbsp;Euro-BTP Italian Government Bond | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62228236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1953837) |
| 863 | &nbsp;&nbsp;Mini MSCI EAFE Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;125182465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1110850) |
| 94 | &nbsp;&nbsp;S&P 500 E-Mini Communication Services Sector Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13725175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(426715) |
| 89 | &nbsp;&nbsp;S&P 500 E-Mini Financials Sector Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13639250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40983 |
| 904 | &nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;296997900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5222609) |
| 50 | &nbsp;&nbsp;S&P 500 E-Mini Technology Sector Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13499000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(650101) |
| 121 | &nbsp;&nbsp;TOPIX Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26715226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(991335) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(15666611) |
| **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** |
| 179 | &nbsp;&nbsp;5 Year U.S. Treasury Notes | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19364165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81438) |
| 282 | &nbsp;&nbsp;10 Year Australian Treasury Bonds | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20965211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156466 |
| 558 | &nbsp;&nbsp;10 Year Euro-Bund | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80872074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441663 |
| 113 | &nbsp;&nbsp;10 Year Japanese Bonds | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92782395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1083487 |
| 306 | &nbsp;&nbsp;30 Year U.S. Ultra Treasury Bonds | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35668125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156521 |
| 416 | &nbsp;&nbsp;DJ US Real Estate Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14967680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448323 |
| 645 | &nbsp;&nbsp;Mini MSCI Emerging Markets Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46910850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184594 |
| 693 | &nbsp;&nbsp;Russell 2000 E-Mini Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87047730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(538638) |
| 361 | &nbsp;&nbsp;S&P 500 E-Mini Consumer Staples Sector Index | &nbsp;&nbsp;Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30035200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901771 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752749 |
|  |  |  |  | &nbsp;&nbsp;$(10913862) |

---

#### Forward foreign currency exchange contracts outstanding at March 31, 2026:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase<br> Contracts** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**Value at<br> Settlement<br> Date** | &nbsp;&nbsp;**Current<br> Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| Australian Dollar, | Australian Dollar, | Australian Dollar, | Australian Dollar, | Australian Dollar, | Australian Dollar, | Australian Dollar, | Australian Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;31587 | &nbsp;&nbsp;$22230275 | &nbsp;&nbsp;$21787331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$(442944) |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;31900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36609433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36912478 | &nbsp;&nbsp;&nbsp;&nbsp;303045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;NZD | &nbsp;&nbsp;&nbsp;&nbsp;78429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45699370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45103518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(595852) |
| Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;SEK | &nbsp;&nbsp;141101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15028510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14923155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105355) |
|  |  |  |  | &nbsp;&nbsp;$119567588 | &nbsp;&nbsp;$118726482 | &nbsp;&nbsp;&nbsp;&nbsp;303045 | &nbsp;&nbsp;&nbsp;&nbsp;(1144151) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale<br> Contracts** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**Value at<br> Settlement<br> Date** | &nbsp;&nbsp;**Current<br> Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20395 | &nbsp;&nbsp;$27048968 | &nbsp;&nbsp;$26993775 | &nbsp;&nbsp;$55193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;ML | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36826532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36912478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85946) |
| Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;JPY | &nbsp;&nbsp;1192231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7506255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7528416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22161) |
| New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3938283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3875535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

A5

------

AST J.P. MORGAN MODERATE MULTI-ASSET PORTFOLIO (continued)

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of March 31, 2026 (unaudited)** |

---

#### Forward foreign currency exchange contracts outstanding at March 31, 2026 (continued):<br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale<br> Contracts** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**Value at<br> Settlement<br> Date** | &nbsp;&nbsp;**Current<br> Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |
| Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;140105 | &nbsp;&nbsp;$14365731 | &nbsp;&nbsp;$14468102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$(102371) |
| Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;ML | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;141594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15010686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14975289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, |
| &nbsp;&nbsp;&nbsp;Expiring 04/22/26 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29365736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28900805 | &nbsp;&nbsp;&nbsp;&nbsp;464931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  | &nbsp;&nbsp;$134062191 | &nbsp;&nbsp;$133654400 | &nbsp;&nbsp;&nbsp;&nbsp;618269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(210478) |
|  |  |  |  |  |  | &nbsp;&nbsp;$921314 | &nbsp;&nbsp;$(1354629) |

---

*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).*

A6

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Advanced Series Trust

- **b. Investment Company Act file number:** 811-05186

- **c. CIK number of Registrant:** 0000814679

- **d. LEI of Registrant:** 549300VWSUPW8FKG9V43

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 655 Broad Street

  - **City:** Newark

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 07102-4077

  - **Telephone number:** 1-888-778-2888

**Item A.2. Information about the Series.**

- **a. Name of Series:** AST J.P. Morgan Moderate Multi-Asset Portfolio

- **b. EDGAR series identifier (if any):** S000019378

- **c. LEI of Series:** UMGRPRNKYNPFAZ9JPL69

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1820688799.78

**Total Liabilities:** $21472032.49

**Net Assets:** $1799216767.29

**Cash Not Reported:** $2582285.32

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.14678000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000053817 | 1.57%                | 0.63%                | -5.48%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2385748.84              | $29464931.95                               |
| Month 2  | $13540594.44             | $2717539.15                                |
| Month 3  | $7933915.80              | $-81390393.57                              |

**Designated Index Information**

- **Index Name:** Blended Custom Benchmark

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                               | Title                                                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Air Liquide S.A.(L')                               | Air Liquide S.A.(L') EUR5.50                                      | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     15316 | NS      | $3165794.29   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Warby Parker Inc                                   | Warby Parker Inc CL A COM                                         | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20956 | NS      | $441542.92    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FORGENT POWER SOLUTIONS INC                        | Forgent Power Solutions Inc. COM SHS CL A                         | CUSIP: 34631F102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23052 | NS      | $674732.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Severstal Public Joint Stock Company               | Severstal Public Joint Stock Company SP GDR S OCT 06              | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |     11949 | NS      | $1.19         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Kia Corp.                                          | Kia Corp. KRW5000                                                 | CUSIP: 000000000<br>LEI: 988400V8MJK9N7OI5X76 | Long             | EC               | CORP              | KR        |     25743 | NS      | $2541632.24   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Novanta Inc                                        | Novanta Inc COM                                                   | CUSIP: 67000B104<br>LEI: 549300NBPHPTUPTS8070 | Long             | EC               | CORP              | CA        |      9376 | NS      | $1107399.36   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Canadian Natural Resources Limited                 | Canadian Natural Resources Limited COM NPV                        | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     30691 | NS      | $1497154.24   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corporation                          | First Horizon Corporation COM                                     | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     42662 | NS      | $970987.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp.                                     | Middleby Corp. COM                                                | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      6493 | NS      | $860841.94    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp                             | Hillman Solutions Corp COM                                        | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92424 | NS      | $768967.68    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                       | Wyndham Hotels & Resorts Inc COM                                  | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     12249 | NS      | $994986.27    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MMC Norilsk Nickel Public Joint Stock Company      | MMC Norilsk Nickel Public Joint Stock Company RUB1(RUB)           | CUSIP: 000000000<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |    143900 | NS      | $0.18         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Chefs Warehouse Inc.                               | Chefs Warehouse Inc. COM                                          | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     12139 | NS      | $721663.55    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Landstar System Inc.                               | Landstar System Inc. COM                                          | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      3677 | NS      | $589459.87    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                                       | Freshpet Inc COM                                                  | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      9815 | NS      | $578692.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Intact Financial Corp.                             | Intact Financial Corp. COM NPV                                    | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |      7881 | NS      | $1428109.04   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Neptune Insurance Holdings Inc.                    | Neptune Insurance Holdings Inc. CL A                              | CUSIP: 64073B103<br>LEI: 529900I3QTHC0Q1C2D65 | Long             | EC               | CORP              | US        |     24562 | NS      | $594154.78    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                     | CHF/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $464931.27    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Medpace Holdings Inc.                              | Medpace Holdings Inc. COM                                         | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |       914 | NS      | $438893.66    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                                         | Cactus Inc CL A                                                   | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     14981 | NS      | $709649.97    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                          | Shell PLC ORD EUR0.07                                             | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    150730 | NS      | $6981066.27   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| PRUDENTIAL INVESTMENT PORTFOLIOS 9                 | Prudential Investment Portfolios 2 PGIM INSTL MONEY               | CUSIP: 74440E300<br>LEI: 5493006TC8ECBK1GPV34 | Long             | EC               | RF                | US        |  19111500 | NS      | $19098122.35  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc.                          | MarketAxess Holdings Inc. COM                                     | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |      6212 | NS      | $1024855.76   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                   | Roche Holding AG CHF0.001                                         | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |      7068 | NS      | $2820774.08   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| First Interstate Bancsystem Inc.                   | First Interstate Bancsystem Inc. COM                              | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     22472 | NS      | $750564.80    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Legrand SA                                         | Legrand SA EUR4                                                   | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |     18723 | NS      | $2908704.59   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                            | DBS Group Holdings Ltd. NPV                                       | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |     80740 | NS      | $3592940.36   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| KARMAN HOLDINGS INC                                | Karman Holdings Inc. COMMON STOCK                                 | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8121 | NS      | $650086.05    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Moelis & Co.                                       | Moelis & Co. CL A                                                 | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |     13183 | NS      | $751431.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc.                     | Lincoln Electric Holdings Inc. COM                                | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      2209 | NS      | $550217.72    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Acushnet Holdings Corp                             | Acushnet Holdings Corp COM                                        | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |      6843 | NS      | $639683.64    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Taiwan Semiconductor Manufacturing Co., Ltd.       | Taiwan Semiconductor Manufacturing Co., Ltd. SPONSORED ADS        | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     13929 | NS      | $4707305.55   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| WEALTHFRONT CORP                                   | Wealthfront Corp. COM                                             | CUSIP: 947002101<br>LEI: 254900H4LJLUHGFJYM32 | Long             | EC               | CORP              | US        |     53666 | NS      | $496410.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| LEGENCE CORP                                       | Legence Corp. CL A                                                | CUSIP: 52476L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8108 | NS      | $457777.68    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                           | Modine Manufacturing Co. COM                                      | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      5930 | NS      | $1285090.30   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Portland General Electric Company                  | Portland General Electric Company COM NEW                         | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     13600 | NS      | $717672.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc.                                | First Hawaiian Inc. COM                                           | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     23118 | NS      | $569627.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                       | British American Tobacco PLC ORD GBP0.25                          | CUSIP: 000000000<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |     47313 | NS      | $2746937.35   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | EUR/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 8NAV47T0Y26Q87Y0QP81 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-85946.16    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN EXCHANGE-TRADED FUND TRUST             | J P Morgan Exchange Traded Fund Trust ULTRA-SHORT INCOME ETF      | CUSIP: 46641Q837<br>LEI: 5493001E1K1DVWDV2464 | Long             | EC               | RF                | US        |   1641733 | NS      | $83088107.13  | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc.                            | Tyler Technologies Inc. COM                                       | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      1157 | NS      | $396133.66    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                                   | RBC Bearings Inc COM                                              | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2194 | NS      | $1191605.28   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                  | USD/NOK FORWARD                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-102371.47   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ITOCHU Corp.                                       | ITOCHU Corp. NPV                                                  | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |    177600 | NS      | $2259159.30   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| NESTLE' CAPITAL MARKETS SA                         | Nestle SA CHF0.10 (REGD)                                          | CUSIP: 000000000<br>LEI: 549300PZN3NFSOUXLC42 | Long             | EC               | CORP              | CH        |     32453 | NS      | $3183348.94   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Sberbank of Russia                                 | Sberbank of Russia RUB3(RUB)                                      | CUSIP: 000000000<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |     43116 | NS      | $0.05         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Colliers International Group Inc                   | Colliers International Group Inc SUB VTG SHS                      | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |     10958 | NS      | $1171300.62   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| IHI Corp.                                          | IHI Corp. NPV                                                     | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |     66200 | NS      | $1365905.06   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Series Trust                              | AST J.P. Morgan Fixed Income Central Portfolio                    | CUSIP: 000000000<br>LEI: 549300GMPRFOKDNCEZ38 | Long             | EC               | RF                | US        |  55405100 | NS      | $646023464.36 | 35.91%            |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                                       | Doximity Inc CL A                                                 | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16000 | NS      | $372800.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc                                  | Loar Holdings Inc COM SHS                                         | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19397 | NS      | $1111254.13   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| J.P. MORGAN EXCHANGE-TRADED FUND TRUST             | J P Morgan Exchange Traded Fund Trust ACTIVE GROWTH ETF           | CUSIP: 46654Q609<br>LEI: 5493001E1K1DVWDV2464 | Long             | EC               | RF                | US        |   1712774 | NS      | $144763658.48 | 8.05%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Greece SA                         | National Bank of Greece SA EUR1.00 (POST CONS)                    | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |    107651 | NS      | $1662980.20   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Five Below Inc                                     | Five Below Inc COM                                                | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      1475 | NS      | $337008.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MORAN FOODS LLC                                    | MORAN FOODS LLC                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    148157 | PA      | $0.15         | 0.00%             | 2026-12-31      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| Royal Bank of Canada                               | Royal Bank of Canada COM NPV                                      | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |     21256 | NS      | $3436165.11   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd, Hong Kong                           | AIA Group Ltd, Hong Kong NPV                                      | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    216200 | NS      | $2402269.08   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                                             | UCB SA NPV                                                        | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |      3775 | NS      | $1137395.19   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Morningstar Inc                                    | Morningstar Inc COM                                               | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      6061 | NS      | $1024612.05   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                           | Manhattan Associates Inc COM                                      | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      3920 | NS      | $521830.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corporation                                   | Pool Corporation COM                                              | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      4677 | NS      | $946297.41    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp.                           | First Financial Bancorp. COM                                      | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     26274 | NS      | $732519.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems, Inc.                        | Casella Waste Systems, Inc. CL A                                  | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     12839 | NS      | $1018646.26   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Utz Brands Inc.                                    | Utz Brands Inc. COM CL A                                          | CUSIP: 918090101<br>LEI: 5299009BHBU2NH5HRN16 | Long             | EC               | CORP              | US        |     70539 | NS      | $558668.88    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Accelerant Holdings                                | Accelerant Holdings CL A                                          | CUSIP: 000000000<br>LEI: 529900G48AUHCKJ6EU64 | Long             | EC               | CORP              | KY        |     29236 | NS      | $390592.96    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                  | USD/AUD FORWARD                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-442944.17   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp.                                   | Sony Group Corp. NPV                                              | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    162300 | NS      | $3382776.14   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Janus International Group Inc                      | Janus International Group Inc COMMON STOCK                        | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    110079 | NS      | $566906.85    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc.                                    | MSA Safety Inc. COM                                               | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      7586 | NS      | $1243724.70   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| RIDGEPOST CAPITAL INC                              | Ridgepost Capital Inc. CL A COM                                   | CUSIP: 69376K106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32760 | NS      | $237837.60    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                               | Eagle Materials Inc. COM                                          | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      4043 | NS      | $765946.35    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| WSFS Financial Corporation                         | WSFS Financial Corporation COM                                    | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |     12189 | NS      | $797891.94    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group PLC                                       | 3i Group PLC ORD GBP0.738636                                      | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |     36541 | NS      | $1190907.98   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                                 | 10-YEAR JGB TRADE FUTURE, JUN 2026                                | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              | CORP              | JP        |      -113 | NC      | $1083486.97   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                                      | Rio Tinto PLC ORD GBP0.10                                         | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     35771 | NS      | $3318608.58   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| DT Midstream Inc                                   | DT Midstream Inc COMMON STOCK                                     | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5489 | NS      | $739203.63    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC            | MACOM Technology Solutions Holdings Inc. COM                      | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5029 | NS      | $1116790.03   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDERSEN GROUP INC                                 | Andersen Group Inc. CL A                                          | CUSIP: 033853102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17861 | NS      | $485819.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| SAL TopCo LLC Equity Units                         | SAL TopCo LLC Equity Units                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    817799 | NS      | $81.78        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Novartis AG                                        | Novartis AG CHF0.49 (REGD)                                        | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     17625 | NS      | $2705339.46   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                             | Standard Chartered PLC ORD USD0.50                                | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |     79143 | NS      | $1649328.38   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Aaon Inc                                           | Aaon Inc COM PAR $0.004                                           | CUSIP: 000360206<br>LEI: 549300ZHF0E5VM7PUD37 | Long             | EC               | CORP              | US        |      7558 | NS      | $625424.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Element Solutions Inc                              | Element Solutions Inc COM                                         | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     40621 | NS      | $1386800.94   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MORAN FOODS                                        | MORAN FOODS                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6358 | PA      | $6040.39      | 0.00%             | 2026-06-30      | Floating      | 16.91%                | No            |                  3 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                  | Euro(FGBL) Bund Futures                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |      -558 | NC      | $1441663.04   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHT HORIZONS FAMILY SOLUTIONS LLC               | Bright Horizons Family Solutions Inc Del COM                      | CUSIP: 109194100<br>LEI: 254900BHOU40CFNXWQ75 | Long             | EC               | CORP              | US        |     13770 | NS      | $1130930.10   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                           | Fabrinet COM USD0.01                                              | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      2328 | NS      | $1214098.56   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Ryman Hospitality Properties Inc                   | Ryman Hospitality Properties Inc COM                              | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     11899 | NS      | $1097920.73   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Sberbank of Russia                                 | Sberbank of Russia SPONSORED ADR                                  | CUSIP: 80585Y308<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |     18600 | NS      | $1.86         | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| Xometry Inc                                        | Xometry Inc CLASS A COM                                           | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |      9632 | NS      | $393370.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                                  | Compass Group PLC ORD GBP0.1105                                   | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |     75416 | NS      | $2104176.39   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemed Corporation                                 | Chemed Corporation COM                                            | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      1916 | NS      | $723749.84    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                          | Kinsale Capital Group Inc COM                                     | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      3009 | NS      | $1028054.94   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| ASX CLEARING CORPORATION LIMITED                   | ASX 10 Year Treasury Bond Futures                                 | CUSIP: 000000000<br>LEI: 549300USWUR0S7VMM868 | N/A              | DIR              | CORP              | AU        |      -282 | NC      | $156466.40    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC                                  | NatWest Group PLC ORD GBP1.0769                                   | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |    246597 | NS      | $1826777.50   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Rosneft Oil Company                                | Rosneft Oil Company RUB0.01(RUB)                                  | CUSIP: 000000000<br>LEI: 253400JT3MQWNDKMJE44 | Long             | EC               | CORP              | RU        |     30688 | NS      | $0.04         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Envista Holdings Corporation                       | Envista Holdings Corporation COM                                  | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |     42326 | NS      | $1073810.62   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                     | NZD/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $62748.11     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Asics Corp                                         | Asics Corp NPV                                                    | CUSIP: 000000000<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |     47100 | NS      | $1266288.95   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercadolibre Inc                                   | Mercadolibre Inc COM                                              | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       720 | NS      | $1244894.40   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptargroup Inc.                                    | Aptargroup Inc. COM                                               | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      3520 | NS      | $443590.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc                           | Allegro MicroSystems Inc COM                                      | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26169 | NS      | $825108.57    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Zijin Mining Group Co Ltd.                         | Zijin Mining Group Co Ltd. 'H'CNY0.1                              | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |    452000 | NS      | $2033321.47   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                   | E-mini Communication Services Select Sector Futures, Jun-2026,ETH | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        94 | NC      | $-426714.88   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                  | USD/EUR FORWARD                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | US        |         1 | NC      | $303045.13    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Relx PLC                                           | Relx PLC ORD GBP0.1444                                            | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |     46464 | NS      | $1547412.23   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Encompass Health Corporation                       | Encompass Health Corporation COM                                  | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      9498 | NS      | $918741.54    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                 | Long Gilt Future - ICEU                                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |       716 | NC      | $-4546338.34  | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                                       | Balchem Corp COM                                                  | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |      5262 | NS      | $891803.76    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Obayashi Corp.                                     | Obayashi Corp. NPV                                                | CUSIP: 000000000<br>LEI: 529900YT4O5S0LCXWD54 | Long             | EC               | CORP              | JP        |    114000 | NS      | $2761133.48   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                   | E-mini Technology Select Sector Futures, Jun-2026,ETH             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        50 | NC      | $-650101.00   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Telstra Group Ltd.                                 | Telstra Group Ltd. NPV                                            | CUSIP: 000000000<br>LEI: 894500WRW54CVN62K416 | Long             | EC               | CORP              | AU        |    707434 | NS      | $2611569.87   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                  | Long(FBTP) Term Euro                                              | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       463 | NC      | $-1953837.11  | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                             | MSCI EAFE Index Futures - ICUS, Jun26                             | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |       863 | NC      | $-1110850.11  | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit S.p.A.                                   | UniCredit S.p.A. NPV                                              | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     31702 | NS      | $2274422.17   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | 5-Year T-Note Futures, Jun-2026,ETH                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -179 | NC      | $-81437.62    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies Inc.               | Applied Industrial Technologies Inc. COM                          | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      4165 | NS      | $1105057.80   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ncino Inc.                                         | Ncino Inc. COM                                                    | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |     26143 | NS      | $391622.14    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co.                         | Performance Food Group Co. COM                                    | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      8961 | NS      | $767599.26    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc.                                      | Woodward Inc. COM                                                 | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |       659 | NS      | $235869.28    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc                                | StepStone Group Inc COM CL A                                      | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22616 | NS      | $1079235.52   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnitogorsk Iron and Steel Works PJSC             | Magnitogorsk Iron and Steel Works PJSC RUB1(RUB)                  | CUSIP: 000000000<br>LEI: 253400XSJ4C01YMCXG44 | Long             | EC               | CORP              | RU        |    112615 | NS      | $0.14         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sumitomo Electric Industries Ltd.                  | Sumitomo Electric Industries Ltd. NPV                             | CUSIP: 000000000<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |     49400 | NS      | $2806912.49   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BJ Wholesale Club Holdings Inc                     | BJ Wholesale Club Holdings Inc COM                                | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      2080 | NS      | $204713.60    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Miami International Holdings Inc.                  | Miami International Holdings Inc. COM                             | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |     20927 | NS      | $814478.84    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Investment Portfolios 2                 | Prudential Investment Portfolios 2 PGIM CRE ULT SHR               | CUSIP: 74440E201<br>LEI: 54930073VH97GP26HU49 | Long             | EC               | RF                | US        | 133501677 | NS      | $133501677.31 | 7.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Holdings Inc             | CCC Intelligent Solutions Holdings Inc COM                        | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76068 | NS      | $456408.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                                    | ICU Medical Inc COM                                               | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |      6591 | NS      | $851227.65    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Gazprom Public Joint Stock Company                 | Gazprom Public Joint Stock Company RUB5(RUB)                      | CUSIP: 000000000<br>LEI: 213800FD9J2IHTA7YX78 | Long             | EC               | CORP              | RU        |    165440 | NS      | $0.20         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| WSP Global Inc                                     | WSP Global Inc COM NPV                                            | CUSIP: 92938W202<br>LEI: 549300IQ87LU6X6ERQ78 | Long             | EC               | CORP              | CA        |      9630 | NS      | $1498738.41   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PERIMETER SOLUTIONS INC                            | Perimeter Solutions Inc. COMMON STOCK                             | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31593 | NS      | $771501.06    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                                | Deutsche Telekom AG NPV(REGD)                                     | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     72509 | NS      | $2706272.76   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Digi International Inc.                            | Digi International Inc. COM                                       | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     12296 | NS      | $592667.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Copco AB                                     | Atlas Copco AB SER'A'NPV                                          | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |    162078 | NS      | $2860162.40   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | Dow Jones US Real Estate Index Futures, Jun-2026,ETH              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               | CORP              | US        |      -416 | NC      | $448323.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN EXCHANGE-TRADED FUND TRUST             | J P Morgan Exchange Traded Fund Trust GLOBAL SELECT EQUITY ETF    | CUSIP: 46654Q740<br>LEI: 5493001E1K1DVWDV2464 | Long             | EC               | RF                | US        |   5595273 | NS      | $365203468.71 | 20.30%            |  |  |  | No            |                  1 | On Loan: —       |
| Midea Group Co Ltd.                                | Midea Group Co Ltd. CNY1 H                                        | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |    142400 | NS      | $1532528.12   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | Ultra U.S. Treasury Bond Futures, Jun-2026,ETH                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -306 | NC      | $1156520.88   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.       | Taiwan Semiconductor Manufacturing Co., Ltd. TWD10                | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     85000 | NS      | $4915934.61   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding N.V.                                  | ASML Holding N.V. EUR0.09                                         | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      2653 | NS      | $3527844.39   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| DigitalOcean Holdings Inc                          | DigitalOcean Holdings Inc COM                                     | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |      3965 | NS      | $340117.70    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BEL Fuse Inc                                       | BEL Fuse Inc CL B                                                 | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |      3542 | NS      | $701245.16    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                                        | Gentex Corp COM                                                   | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     18129 | NS      | $396118.65    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc.                            | Power Integrations Inc. COM                                       | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     17036 | NS      | $872243.20    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| ALIBABA GROUP HOLDING LTD                          | Alibaba Group Holding Ltd. USD0.000003125                         | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    198000 | NS      | $3103548.89   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| XCMG                                               | XCMG Construction Machinery Co Ltd                                | CUSIP: 000000000<br>LEI: 300300QGG1VFJ0WTJE78 | Long             | EC               | CORP              | CN        |    704800 | NS      | $1040738.79   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Wintrust Financial Corporation                     | Wintrust Financial Corporation COM                                | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      7729 | NS      | $1073867.26   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                          | Safran SA EUR0.20                                                 | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     12483 | NS      | $4084803.57   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Liberty Energy Inc                                 | Liberty Energy Inc COM CL A                                       | CUSIP: 53115L104<br>LEI: 254900PKFJW6RILDCM60 | Long             | EC               | CORP              | US        |     17055 | NS      | $491184.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                                   | Badger Meter Inc COM                                              | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      7446 | NS      | $1134398.10   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                         | Siemens AG NPV(REGD)                                              | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     15895 | NS      | $3872563.88   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Solstice Advanced Materials Inc.                   | Solstice Advanced Materials Inc. COM SHS                          | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |     10899 | NS      | $830067.84    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Driven Brands Holdings Inc                         | Driven Brands Holdings Inc COM                                    | CUSIP: 26210V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24626 | NS      | $310533.86    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| CHICAGO MERCANTILE EXCHANGE INC.                   | E-mini Russell 2000 Index Futures, Jun-2026,ETH                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -693 | NC      | $-538637.72   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                         | Cullen/Frost Bankers, Inc. COM                                    | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      8194 | NS      | $1123233.52   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                             | MSCI Emerging Markets Index Futures - ICUS, Jun26                 | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |      -645 | NC      | $184594.35    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                                   | E L F Beauty Inc COM                                              | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      8994 | NS      | $545126.34    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Evercore Inc.                                      | Evercore Inc. CLASS A                                             | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      3925 | NS      | $1171651.75   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN EXCHANGE-TRADED FUND TRUST             | J P Morgan Exchange Traded Fund Trust ACTIVE VALUE ETF            | CUSIP: 46641Q167<br>LEI: 5493001E1K1DVWDV2464 | Long             | EC               | RF                | US        |   2030294 | NS      | $145673594.50 | 8.10%             |  |  |  | No            |                  1 | On Loan: —       |
| MORAN FOODS LLC                                    | MORAN FOODS LLC                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    229707 | PA      | $57082.26     | 0.00%             | 2026-12-31      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| Planet Fitness Inc.                                | Planet Fitness Inc. CL A                                          | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     13875 | NS      | $1032022.50   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| OSAKA EXCHANGE,INC                                 | TOPIX TRADE FUTURE, JUN 2026                                      | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               | CORP              | JP        |       121 | NC      | $-991335.41   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| SERVISFIRST BANCSHARES INC                         | ServisFirst Bancshares Inc. COM                                   | CUSIP: 81768T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10266 | NS      | $747672.78    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthequity Inc                                   | Healthequity Inc COM                                              | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     11626 | NS      | $971584.82    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First Advantage Corp New                           | First Advantage Corp New COM                                      | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |     53128 | NS      | $624785.28    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.        | 10-Year T-Note Futures, Jun-2026,ETH                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       519 | NC      | $-805809.53   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc.                                    | BankUnited Inc. COM                                               | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     15457 | NS      | $698038.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                  | USD/NZD FORWARD                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-595851.95   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc.                                      | SK Hynix Inc. KRW5000                                             | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      5835 | NS      | $3310575.51   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                     | HDFC Bank Ltd. SPONSORED ADS                                      | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    100866 | NS      | $2509546.08   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                   | E-mini S&P 500 Futures, Jun-2026,ETH                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       904 | NC      | $-5222608.60  | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                                    | Core & Main Inc CL A                                              | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21633 | NS      | $1068670.20   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corporation                         | Verra Mobility Corporation CL A COM STK                           | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |     44479 | NS      | $635604.91    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Parent Inc                | Concentra Group Holdings Parent Inc COMMON STOCK                  | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36283 | NS      | $778270.35    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastgroup Properties, Inc.                         | Eastgroup Properties, Inc. COM                                    | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |      3233 | NS      | $598395.97    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                                    | Shake Shack Inc CL A                                              | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |      7571 | NS      | $669806.37    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| QUAKER CHEMICAL CORP                               | Quaker Houghton COM                                               | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      4078 | NS      | $506609.94    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| MMC Norilsk Nickel Public Joint Stock Company      | MMC Norilsk Nickel Public Joint Stock Company SPONSORED ADR       | CUSIP: 55315J102<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |         8 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Monarch Casino & Resort Inc                        | Monarch Casino & Resort Inc COM                                   | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |      6870 | NS      | $656772.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FIGURE TECHNOLOGY SOLUTIONS INC                    | Figure Technology Solutions Inc. COM CL A                         | CUSIP: 349381103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12674 | NS      | $430282.30    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| COMMERCE BANCSHARES INC (MO)                       | Commerce Bancshares Inc COM                                       | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19288 | NS      | $948969.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                           | Engie SA EUR1                                                     | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    147185 | NS      | $4743398.10   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Hayward Holdings Inc                               | Hayward Holdings Inc COM                                          | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100974 | NS      | $1351032.12   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI Corp                                           | RLI Corp COM                                                      | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |      8076 | NS      | $460655.04    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| FLOWCO HOLDINGS INC                                | Flowco Holdings Inc. COM CL A                                     | CUSIP: 342909108<br>LEI: 529900837MXVPIR9FZ68 | Long             | EC               | CORP              | US        |     26913 | NS      | $554407.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ITAUSA SA                                          | Itausa S.A. PREF SHS NPV                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BR        |    680241 | NS      | $1828036.47   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Munich Reinsurance AG                              | Munich Reinsurance AG NPV(REGD)                                   | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |      5659 | NS      | $3573892.22   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                       | KBC Group NV NPV                                                  | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | EC               | CORP              | BE        |     21801 | NS      | $2668267.95   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Novonesis (Novozymes) B                            | Novonesis (Novozymes) B SER'B'DKK2                                | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |     25053 | NS      | $1488428.44   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| TENCENT HOLDINGS LTD                               | Tencent Holdings Ltd. HKD0.00002                                  | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     63900 | NS      | $4030325.15   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Notes                       | T 4.125 01/31/27                                                  | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  40369000 | PA      | $40491999.30  | 2.25%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                           | Infineon Technologies AG ORD NPV (REGD)                           | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     46715 | NS      | $2119279.03   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Simpson Manufacturing Co Inc.                      | Simpson Manufacturing Co Inc. COM                                 | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      3790 | NS      | $650439.80    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIANCE LAUNDRY HOLDINGS INC                      | Alliance Laundry Holdings Inc. COM                                | CUSIP: 01862Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28588 | NS      | $592915.12    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo AB                                           | Volvo AB SER'B'NPV                                                | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |     73279 | NS      | $2409363.54   | 0.13%             |  |  |  | No            |                  2 | On Loan: —       |
| WillScot Holdings Corporation                      | WillScot Holdings Corporation COM CL A                            | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     58944 | NS      | $1023267.84   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Hanwha Aerospace Co Ltd                            | Hanwha Aerospace Co Ltd KRW5000                                   | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |      2598 | NS      | $2215331.98   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Primo Brands Corp.                                 | Primo Brands Corp. CLASS A COM SHS                                | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |     45222 | NS      | $851530.26    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                                         | Qualys Inc COM                                                    | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      5765 | NS      | $506455.25    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CUSHMAN & WAKEFIELD LTD                            | Cushman And Wakefield Ltd. COMMON SHARES                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     81973 | NS      | $1004988.98   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                     | USD/GBP FORWARD                                                   | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $55192.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                   | E-mini Consumer Staples Select Sector Futures, Jun-2026,ETH       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -361 | NC      | $901770.78    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc.                | Mitsubishi UFJ Financial Group Inc. NPV                           | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    237200 | NS      | $4016729.36   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Paylocity Holding Corporation                      | Paylocity Holding Corporation COM                                 | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      6357 | NS      | $686810.28    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd.                                 | Bajaj Finance Ltd. INR1(POST SUBD)                                | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |    165545 | NS      | $1416516.24   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | SEK/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: 8NAV47T0Y26Q87Y0QP81 | N/A              | DFE              | CORP              | US        |         1 | NC      | $35397.40     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Novatek Pub Joint Stock Company                    | Novatek Pub Joint Stock Company RUB0.1(USD)                       | CUSIP: 000000000<br>LEI: 2138008R6GCRVBDFA581 | Long             | EC               | CORP              | RU        |      5822 | NS      | $0.58         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BARCLAYS BANK PLC                                  | USD/SEK FORWARD                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-105354.96   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Saia Inc                                           | Saia Inc COM                                                      | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      2011 | NS      | $706424.08    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                                      | SM Energy Co. COM                                                 | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     30567 | NS      | $953079.06    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare, Inc.                            | Molina Healthcare, Inc. COM                                       | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |      1115 | NS      | $148629.50    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                   | E-mini Financial Select Sector Futures, Jun-2026,ETH              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        89 | NC      | $40982.72     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AL Rajhi Bank                                      | AL Rajhi Bank SAR10                                               | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |     67097 | NS      | $1912714.78   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                  | JPY/USD FORWARD                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-22161.30    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

**Name of Applicant:** Advanced Series Trust

**Signature:** Christian J. Kelly

**Name of Signer:** Christian J. Kelly

**Title:** Chief Financial Officer