# EDGAR Filing Document

**Accession Number:** 0000814679
**File Stem:** 0000940400-25-011178
**Filing Date:** 2025-11
**Character Count:** 177959
**Document Hash:** bbae4c683c6c931227549f2622a81c69
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-011178.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000940400-25-011178

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**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:** 251531601

**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 Aggressive Multi-Asset Portfolio (Series ID: S000043713)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000135561 | AST J.P. Morgan Aggressive Multi-Asset Portfolio |  |

## Nport-Ex

AST J.P. MORGAN AGGRESSIVE MULTI-ASSET PORTFOLIO

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of September 30, 2025 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments — 86.6%** | **Long-Term Investments — 86.6%** | **Long-Term Investments — 86.6%** |
| **Affiliated Mutual Fund — 15.3%** | **Affiliated Mutual Fund — 15.3%** | **Affiliated Mutual Fund — 15.3%** |
| **Fixed Income** | **Fixed Income** | **Fixed Income** |
| &nbsp;&nbsp;&nbsp;AST J.P. Morgan Fixed Income Central Portfolio\* | 34609087 | &nbsp;&nbsp;&nbsp;&nbsp;$398350587 |
| &nbsp;&nbsp;&nbsp;(cost $386,659,568)(wa) |  |  |
| **Common Stocks — 37.6%** | **Common Stocks — 37.6%** | **Common Stocks — 37.6%** |
| **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** |
| &nbsp;&nbsp;&nbsp;Hanwha Aerospace Co. Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4339313 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3474645 |
| &nbsp;&nbsp;&nbsp;Karman Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879685 |
| &nbsp;&nbsp;&nbsp;Loar Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105600 |
| &nbsp;&nbsp;&nbsp;Safran SA (France) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18956395 |
| &nbsp;&nbsp;&nbsp;Woodward, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688635 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29444273 |
| **Automobile Components — 0.4%** | **Automobile Components — 0.4%** | **Automobile Components — 0.4%** |
| &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA (France) | &nbsp;&nbsp;&nbsp;&nbsp;239678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8631699 |
| &nbsp;&nbsp;&nbsp;Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515946 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing Co.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400987 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11548632 |
| **Automobiles — 0.3%** | **Automobiles — 0.3%** | **Automobiles — 0.3%** |
| &nbsp;&nbsp;&nbsp;Kia Corp. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3259461 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738936 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7998397 |
| **Banks — 4.1%** | **Banks — 4.1%** | **Banks — 4.1%** |
| &nbsp;&nbsp;&nbsp;Al Rajhi Bank (Saudi Arabia) | &nbsp;&nbsp;&nbsp;&nbsp;181231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5178715 |
| &nbsp;&nbsp;&nbsp;Bank Central Asia Tbk PT (Indonesia) | &nbsp;&nbsp;&nbsp;7689000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521258 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;207927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10726954 |
| &nbsp;&nbsp;&nbsp;BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643170 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614177 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640277 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings Ltd. (Singapore) | &nbsp;&nbsp;&nbsp;&nbsp;278600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11048665 |
| &nbsp;&nbsp;&nbsp;First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538205 |
| &nbsp;&nbsp;&nbsp;First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1422014 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834060 |
| &nbsp;&nbsp;&nbsp;First Interstate BancSystem, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429306 |
| &nbsp;&nbsp;&nbsp;HDFC Bank Ltd. (India), ADR | &nbsp;&nbsp;&nbsp;&nbsp;219236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7489102 |
| &nbsp;&nbsp;&nbsp;KBC Group NV (Belgium) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6375671 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;982100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15842627 |
| &nbsp;&nbsp;&nbsp;National Bank of Greece SA (Greece) | &nbsp;&nbsp;&nbsp;&nbsp;227810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317242 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;531539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3754447 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7529026 |
| &nbsp;&nbsp;&nbsp;ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282521 |
| &nbsp;&nbsp;&nbsp;U.S. Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3379282 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA (Italy) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6203273 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8186616 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996665 |
| &nbsp;&nbsp;&nbsp;WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447319 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107400592 |
| **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;143657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9527332 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Beverages (cont'd.)** | **Beverages (cont'd.)** | **Beverages (cont'd.)** |
| &nbsp;&nbsp;&nbsp;Heineken NV (Netherlands) | &nbsp;&nbsp;&nbsp;66733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5225795 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA (France) | &nbsp;&nbsp;&nbsp;17879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760199 |
| &nbsp;&nbsp;&nbsp;Primo Brands Corp. | &nbsp;&nbsp;&nbsp;80593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781105 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18294431 |
| **Biotechnology — 0.3%** | **Biotechnology — 0.3%** | **Biotechnology — 0.3%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;36267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8397261 |
| **Broadline Retail — 1.6%** | **Broadline Retail — 1.6%** | **Broadline Retail — 1.6%** |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. (China) | 441600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9875994 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.\* | 124961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27437687 |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc. (Brazil)\* | &nbsp;&nbsp;&nbsp;&nbsp;1554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3631605 |
| &nbsp;&nbsp;&nbsp;Ozon Holdings PLC (Russia), ADR\*(a)^ | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40945286 |
| **Building Products — 0.6%** | **Building Products — 0.6%** | **Building Products — 0.6%** |
| &nbsp;&nbsp;&nbsp;AAON, Inc.(a) | &nbsp;&nbsp;&nbsp;16735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563719 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Innovations, Inc.(a) | &nbsp;&nbsp;&nbsp;13385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714625 |
| &nbsp;&nbsp;&nbsp;Hayward Holdings, Inc.\* | 173918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2629640 |
| &nbsp;&nbsp;&nbsp;Janus International Group, Inc.\*(a) | 144797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429146 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;10685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1789310 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;17286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7294001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15420441 |
| **Capital Markets — 2.2%** | **Capital Markets — 2.2%** | **Capital Markets — 2.2%** |
| &nbsp;&nbsp;&nbsp;3i Group PLC (United Kingdom) | 136152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7505104 |
| &nbsp;&nbsp;&nbsp;Brookfield Corp. (Canada) | &nbsp;&nbsp;&nbsp;44197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3032530 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp;43986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199343 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;15469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4179569 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse AG (Germany) | &nbsp;&nbsp;&nbsp;17402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4660101 |
| &nbsp;&nbsp;&nbsp;Evercore, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;&nbsp;5922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997609 |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing Ltd. (Hong Kong) | 169500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9622609 |
| &nbsp;&nbsp;&nbsp;Japan Exchange Group, Inc. (Japan) | 416500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4651048 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1696498 |
| &nbsp;&nbsp;&nbsp;Miami International Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;21293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857256 |
| &nbsp;&nbsp;&nbsp;Moelis & Co. (Class A Stock) | &nbsp;&nbsp;&nbsp;10639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758774 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;42260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6717650 |
| &nbsp;&nbsp;&nbsp;Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783925 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;31733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072482 |
| &nbsp;&nbsp;&nbsp;UBS Group AG (Switzerland) | &nbsp;&nbsp;&nbsp;91192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749227 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57483725 |
| **Chemicals — 0.9%** | **Chemicals — 0.9%** | **Chemicals — 0.9%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA (France) | &nbsp;&nbsp;&nbsp;41661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8680346 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems Ltd.\* | &nbsp;&nbsp;&nbsp;46106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319554 |
| &nbsp;&nbsp;&nbsp;Balchem Corp. | &nbsp;&nbsp;&nbsp;10381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557773 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. | &nbsp;&nbsp;&nbsp;82579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078513 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;11570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5495750 |
| &nbsp;&nbsp;&nbsp;Perimeter Solutions, Inc.\* | &nbsp;&nbsp;&nbsp;50616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133292 |
| &nbsp;&nbsp;&nbsp;Quaker Chemical Corp.(a) | &nbsp;&nbsp;&nbsp;12009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582186 |
| &nbsp;&nbsp;&nbsp;Shin-Etsu Chemical Co. Ltd. (Japan) | &nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259304 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24106718 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;22125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099220 |
| &nbsp;&nbsp;&nbsp;Driven Brands Holdings, Inc.\*(a) | &nbsp;&nbsp;&nbsp;72534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168523 |

---

A1

------

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

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of September 30, 2025 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Commercial Services & Supplies (cont'd.)** | **Commercial Services & Supplies (cont'd.)** | **Commercial Services & Supplies (cont'd.)** |
| &nbsp;&nbsp;&nbsp;MSA Safety, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;17179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2955990 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6223733 |
| **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Digi International, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339588 |
| **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** |
| &nbsp;&nbsp;&nbsp;WillScot Holdings Corp.(a) | &nbsp;&nbsp;&nbsp;104727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210787 |
| &nbsp;&nbsp;&nbsp;WSP Global, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;21044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4135614 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6346401 |
| **Construction Materials — 0.1%** | **Construction Materials — 0.1%** | **Construction Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011135 |
| **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;19314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6415338 |
| **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;&nbsp;&nbsp;&nbsp;6062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565282 |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;25460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2648858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3214140 |
| **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** |
| &nbsp;&nbsp;&nbsp;AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304388 |
| **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;&nbsp;20413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2216239 |
| **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** | **Diversified Telecommunication Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;136245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3847559 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG (Germany) | &nbsp;&nbsp;&nbsp;115422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3932366 |
| &nbsp;&nbsp;&nbsp;GCI Liberty, Inc. (Class A Stock)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5713 | &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;Telstra Group Ltd. (Australia) | 1623579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5176171 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12956097 |
| **Electric Utilities — 0.7%** | **Electric Utilities — 0.7%** | **Electric Utilities — 0.7%** |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4169766 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;35194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548536 |
| &nbsp;&nbsp;&nbsp;Southern Co. (The) | &nbsp;&nbsp;&nbsp;126808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12017594 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17735896 |
| **Electrical Equipment — 0.7%** | **Electrical Equipment — 0.7%** | **Electrical Equipment — 0.7%** |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;12396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4639203 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co.(a) | &nbsp;&nbsp;&nbsp;&nbsp;42420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5564655 |
| &nbsp;&nbsp;&nbsp;Legrand SA (France) | &nbsp;&nbsp;&nbsp;&nbsp;40369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6707757 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16911615 |
| **Electronic Equipment, Instruments & Components — 0.4%** | **Electronic Equipment, Instruments & Components — 0.4%** | **Electronic Equipment, Instruments & Components — 0.4%** |
| &nbsp;&nbsp;&nbsp;Badger Meter, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477571 |
| &nbsp;&nbsp;&nbsp;Fabrinet (Thailand)\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363314 |
| &nbsp;&nbsp;&nbsp;Keyence Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5327621 |
| &nbsp;&nbsp;&nbsp;Novanta, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;17255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728088 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9896594 |
| **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;175848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8567315 |
| &nbsp;&nbsp;&nbsp;Cactus, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;&nbsp;37273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471165 |
| &nbsp;&nbsp;&nbsp;Flowco Holdings, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;&nbsp;46343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688193 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10726673 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Entertainment — 0.5%** | **Entertainment — 0.5%** | **Entertainment — 0.5%** |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. (The) | 115879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13268146 |
| **Financial Services — 0.5%** | **Financial Services — 0.5%** | **Financial Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;37833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494708 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;18560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10557114 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13051822 |
| **Food Products — 0.4%** | **Food Products — 0.4%** | **Food Products — 0.4%** |
| &nbsp;&nbsp;&nbsp;Freshpet, Inc.\* | &nbsp;&nbsp;&nbsp;17012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937531 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;70761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6498354 |
| &nbsp;&nbsp;&nbsp;Utz Brands, Inc. | 133471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9057558 |
| **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;&nbsp;20415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806597 |
| &nbsp;&nbsp;&nbsp;Landstar System, Inc.(a) | &nbsp;&nbsp;&nbsp;12086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481260 |
| &nbsp;&nbsp;&nbsp;Saia, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;4076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220191 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3508048 |
| **Health Care Equipment & Supplies — 0.5%** | **Health Care Equipment & Supplies — 0.5%** | **Health Care Equipment & Supplies — 0.5%** |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp.\* | 100690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051055 |
| &nbsp;&nbsp;&nbsp;Hoya Corp. (Japan) | &nbsp;&nbsp;&nbsp;38400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5309582 |
| &nbsp;&nbsp;&nbsp;ICU Medical, Inc.\*(a) | &nbsp;&nbsp;&nbsp;13511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620780 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;33784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217588 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12199005 |
| **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041695 |
| &nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;&nbsp;71415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1494716 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp;&nbsp;19987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538749 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc.\* | &nbsp;&nbsp;&nbsp;16494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563136 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;13934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4811410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12449706 |
| **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;20205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810166 |
| **Hotels, Restaurants & Leisure — 1.4%** | **Hotels, Restaurants & Leisure — 1.4%** | **Hotels, Restaurants & Leisure — 1.4%** |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.\* | &nbsp;&nbsp;&nbsp;40391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582923 |
| &nbsp;&nbsp;&nbsp;Compass Group PLC (United Kingdom) | 139632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4759463 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050290 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. (Class A Stock)(a) | &nbsp;&nbsp;&nbsp;12992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383636 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;23075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7012262 |
| &nbsp;&nbsp;&nbsp;Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;13547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433814 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc. (Class A Stock)\*(a) | &nbsp;&nbsp;&nbsp;18356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1905353 |
| &nbsp;&nbsp;&nbsp;Shake Shack, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;9656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903898 |
| &nbsp;&nbsp;&nbsp;Vail Resorts, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;5961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891587 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc.(a) | &nbsp;&nbsp;&nbsp;21113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686929 |
| &nbsp;&nbsp;&nbsp;Yum China Holdings, Inc. (China)(a) | 172402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7399494 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;19547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35980793 |
| **Household Durables — 0.7%** | **Household Durables — 0.7%** | **Household Durables — 0.7%** |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. (Japan) | 619400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17805707 |

---

A2

------

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

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of September 30, 2025 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Industrial Conglomerates — 0.6%** | **Industrial Conglomerates — 0.6%** | **Industrial Conglomerates — 0.6%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;19129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2968438 |
| &nbsp;&nbsp;&nbsp;Siemens AG (Germany) | &nbsp;&nbsp;&nbsp;50694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13686267 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16654705 |
| **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** | **Industrial REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;10618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797203 |
| **Insurance — 1.0%** | **Insurance — 1.0%** | **Insurance — 1.0%** |
| &nbsp;&nbsp;&nbsp;Accelerant Holdings (Cayman Islands) (Class A Stock)\*(a) | &nbsp;&nbsp;&nbsp;33988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506081 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co.(a) | &nbsp;&nbsp;&nbsp;12988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4022903 |
| &nbsp;&nbsp;&nbsp;Baldwin Insurance Group, Inc. (The)\*(a) | &nbsp;&nbsp;&nbsp;36168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020299 |
| &nbsp;&nbsp;&nbsp;Intact Financial Corp. (Canada) | &nbsp;&nbsp;&nbsp;16993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3306169 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;3738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589622 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany) | &nbsp;&nbsp;&nbsp;18679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11926060 |
| &nbsp;&nbsp;&nbsp;Neptune Insurance Holdings, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;12489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249780 |
| &nbsp;&nbsp;&nbsp;RLI Corp.(a) | &nbsp;&nbsp;&nbsp;23825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1553867 |
| &nbsp;&nbsp;&nbsp;Sony Financial Group, Inc. (Japan)\* | 619400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686896 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24861677 |
| **Interactive Media & Services — 1.8%** | **Interactive Media & Services — 1.8%** | **Interactive Media & Services — 1.8%** |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc. (Class A Stock) | &nbsp;&nbsp;&nbsp;31277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22969203 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. (China) | 274100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23355952 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46325155 |
| **Leisure Products — 0.1%** | **Leisure Products — 0.1%** | **Leisure Products — 0.1%** |
| &nbsp;&nbsp;&nbsp;Acushnet Holdings Corp.(a) | &nbsp;&nbsp;&nbsp;18334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439036 |
| &nbsp;&nbsp;&nbsp;Brunswick Corp.(a) | &nbsp;&nbsp;&nbsp;20533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298507 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737543 |
| **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** | **Life Sciences Tools & Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;18490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3665828 |
| &nbsp;&nbsp;&nbsp;Lonza Group AG (Switzerland) | &nbsp;&nbsp;&nbsp;&nbsp;8063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5391231 |
| &nbsp;&nbsp;&nbsp;Medpace Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;1513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777924 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9834983 |
| **Machinery — 1.3%** | **Machinery — 1.3%** | **Machinery — 1.3%** |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB (Sweden) (Class A Stock) | 563521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9556180 |
| &nbsp;&nbsp;&nbsp;Hillman Solutions Corp.\* | 147967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1358337 |
| &nbsp;&nbsp;&nbsp;IHI Corp. (Japan) | 242900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4523837 |
| &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings, Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;5327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256266 |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;4808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876514 |
| &nbsp;&nbsp;&nbsp;Toro Co. (The) | &nbsp;&nbsp;&nbsp;10190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776478 |
| &nbsp;&nbsp;&nbsp;Volvo AB (Sweden) (Class B Stock) | 514923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14807953 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34155565 |
| **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc.(a) | &nbsp;&nbsp;&nbsp;72881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4458131 |
| &nbsp;&nbsp;&nbsp;Engie SA (France) | 303598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6526303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10984434 |
| **Oil, Gas & Consumable Fuels — 1.0%** | **Oil, Gas & Consumable Fuels — 1.0%** | **Oil, Gas & Consumable Fuels — 1.0%** |
| &nbsp;&nbsp;&nbsp;DT Midstream, Inc. | &nbsp;&nbsp;&nbsp;14535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643327 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Oil, Gas & Consumable Fuels (cont'd.)** | **Oil, Gas & Consumable Fuels (cont'd.)** | **Oil, Gas & Consumable Fuels (cont'd.)** |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | 109965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12398554 |
| &nbsp;&nbsp;&nbsp;Gazprom PJSC (Russia)\*^ | 321836 | &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 | 324807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11576459 |
| &nbsp;&nbsp;&nbsp;SM Energy Co. | &nbsp;&nbsp;&nbsp;62895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570488 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27188828 |
| **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** |
| &nbsp;&nbsp;&nbsp;Kao Corp. (Japan) | &nbsp;&nbsp;&nbsp;97900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4266585 |
| **Pharmaceuticals — 1.3%** | **Pharmaceuticals — 1.3%** | **Pharmaceuticals — 1.3%** |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;31416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4812966 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;56034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2527133 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;85845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15917380 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;52910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6803083 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S (Denmark) (Class B Stock) | &nbsp;&nbsp;&nbsp;68831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3832625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33893187 |
| **Professional Services — 0.5%** | **Professional Services — 0.5%** | **Professional Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;First Advantage Corp.\*(a) | &nbsp;&nbsp;&nbsp;86058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324433 |
| &nbsp;&nbsp;&nbsp;HeadHunter Group PLC (Russia), ADR\*(a)^ | &nbsp;&nbsp;&nbsp;&nbsp;7400 | &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;Paylocity Holding Corp.\* | &nbsp;&nbsp;&nbsp;11266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794336 |
| &nbsp;&nbsp;&nbsp;RELX PLC (United Kingdom) (XLON) | &nbsp;&nbsp;&nbsp;66771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3190241 |
| &nbsp;&nbsp;&nbsp;RELX PLC (United Kingdom) (XAMS) | 125216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6001598 |
| &nbsp;&nbsp;&nbsp;Verra Mobility Corp.\* | &nbsp;&nbsp;&nbsp;67938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678068 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13988677 |
| **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** |
| &nbsp;&nbsp;&nbsp;Colliers International Group, Inc. (Canada)(a) | &nbsp;&nbsp;&nbsp;&nbsp;8163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275142 |
| &nbsp;&nbsp;&nbsp;Cushman & Wakefield PLC\* | 107588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712801 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan Co. Ltd. (Japan) | 452400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4924875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7912818 |
| **Semiconductors & Semiconductor Equipment — 4.0%** | **Semiconductors & Semiconductor Equipment — 4.0%** | **Semiconductors & Semiconductor Equipment — 4.0%** |
| &nbsp;&nbsp;&nbsp;Allegro MicroSystems, Inc. (Japan)\* | &nbsp;&nbsp;&nbsp;35702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042499 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208106 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (Netherlands) | &nbsp;&nbsp;&nbsp;19090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18616321 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG (Germany) | 115011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4511901 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;17008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2117326 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 217459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40573500 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV (Netherlands)(a) | &nbsp;&nbsp;&nbsp;12481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2842298 |
| &nbsp;&nbsp;&nbsp;Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;33769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357852 |
| &nbsp;&nbsp;&nbsp;SK Hynix, Inc. (South Korea) | &nbsp;&nbsp;&nbsp;24605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6099530 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14551672 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan), ADR | &nbsp;&nbsp;&nbsp;40228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11235278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105156283 |
| **Software — 1.8%** | **Software — 1.8%** | **Software — 1.8%** |
| &nbsp;&nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc.\*(a) | 128822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173568 |
| &nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc. (Class A Stock)\*(a) | &nbsp;&nbsp;&nbsp;81333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465621 |

---

A3

------

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

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of September 30, 2025 (unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (continued)** | **Common Stocks (continued)** | **Common Stocks (continued)** |
| **Software (cont'd.)** | **Software (cont'd.)** | **Software (cont'd.)** |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;74716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38699152 |
| &nbsp;&nbsp;&nbsp;nCino, Inc.\*(a) | &nbsp;&nbsp;&nbsp;&nbsp;24960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676665 |
| &nbsp;&nbsp;&nbsp;Qualys, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113028 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3025305 |
| &nbsp;&nbsp;&nbsp;SPS Commerce, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47144648 |
| **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4246618 |
| &nbsp;&nbsp;&nbsp;CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;39581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609363 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5855981 |
| **Specialty Retail — 0.6%** | **Specialty Retail — 0.6%** | **Specialty Retail — 0.6%** |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;10860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2763870 |
| &nbsp;&nbsp;&nbsp;Five Below, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824860 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc.(a) | &nbsp;&nbsp;&nbsp;&nbsp;40867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10270286 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2232971 |
| &nbsp;&nbsp;&nbsp;Warby Parker, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;12038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16423995 |
| **Technology Hardware, Storage & Peripherals — 0.7%** | **Technology Hardware, Storage & Peripherals — 0.7%** | **Technology Hardware, Storage & Peripherals — 0.7%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18872412 |
| **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE (France) | &nbsp;&nbsp;&nbsp;&nbsp;12265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7547652 |
| **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;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699436 |
| &nbsp;&nbsp;&nbsp;Core & Main, Inc. (Class A Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;39482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125316 |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4381176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8205928 |
| **Total Common Stocks<br>(cost $886,354,391)<br>** | **Total Common Stocks<br>(cost $886,354,391)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980276803 |
| **Unaffiliated Exchange-Traded Funds — 31.5%** | **Unaffiliated Exchange-Traded Funds — 31.5%** | **Unaffiliated Exchange-Traded Funds — 31.5%** |
| &nbsp;&nbsp;&nbsp;JPMorgan Active Growth ETF(a) | 2327054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218161313 |
| &nbsp;&nbsp;&nbsp;JPMorgan Active Value ETF | 2976490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205258751 |
| &nbsp;&nbsp;&nbsp;JPMorgan Global Select Equity ETF | 4348603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294704825 |
| &nbsp;&nbsp;&nbsp;JPMorgan Ultra-Short Income ETF | 2001669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101544668 |
| **Total Unaffiliated Exchange-Traded Funds<br>(cost $761,716,261)<br>** | **Total Unaffiliated Exchange-Traded Funds<br>(cost $761,716,261)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819669557 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Interest<br> Rate** | **Maturity<br> Date** | **Principal<br> Amount<br> (000)#** |  |  |
| **U.S. Treasury Obligation(k) — 2.2%** | **U.S. Treasury Obligation(k) — 2.2%** | **U.S. Treasury Obligation(k) — 2.2%** | **U.S. Treasury Obligation(k) — 2.2%** |  |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |  |
| &nbsp;&nbsp;&nbsp;4.250% | &nbsp;&nbsp;&nbsp;&nbsp;01/31/26 | &nbsp;&nbsp;57276 | &nbsp;&nbsp;&nbsp;&nbsp;57313534 |  |
| &nbsp;&nbsp;&nbsp;(cost $57,275,650) | &nbsp;&nbsp;&nbsp;(cost $57,275,650) |  |  |  |
| **Total Long-Term Investments<br>(cost $2,092,005,870)<br>** | **Total Long-Term Investments<br>(cost $2,092,005,870)<br>** | **Total Long-Term Investments<br>(cost $2,092,005,870)<br>** |  | 2255610481.0 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investments — 15.7%** | **Short-Term Investments — 15.7%** | **Short-Term Investments — 15.7%** |
| **Affiliated Mutual Funds** | **Affiliated Mutual Funds** | **Affiliated Mutual Funds** |
| &nbsp;&nbsp;&nbsp;PGIM Core Ultra Short Bond Fund(wa) | 352209903 | &nbsp;&nbsp;&nbsp;&nbsp;$352209903 |
| &nbsp;&nbsp;&nbsp;PGIM Institutional Money Market Fund (7-day effective yield 4.350%)<br>(cost $55,723,812; includes $55,520,572 of cash collateral for securities on loan)(b)(wa) | &nbsp;&nbsp;&nbsp;55757301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55723847 |
| **Total Short-Term Investments<br>(cost $407,933,715)<br>** | **Total Short-Term Investments<br>(cost $407,933,715)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407933750 |
| **TOTAL INVESTMENTS—102.3%<br>(cost $2,499,939,585)<br>** | **TOTAL INVESTMENTS—102.3%<br>(cost $2,499,939,585)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;2663544231 |
| **Liabilities in excess of other assets(z) — (2.3)%<br>** | **Liabilities in excess of other assets(z) — (2.3)%<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61042815) |
| **Net Assets — 100.0%<br>** | **Net Assets — 100.0%<br>** | &nbsp;&nbsp;&nbsp;$2602501416 |

---

---

| | |
|:---|:---|
| Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |

---

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| ASX | Australian Securities Exchange |
| BNP | BNP Paribas S.A. |
| BTP | Buoni del Tesoro Poliennali |
| CITI | Citibank, N.A. |
| DJ | Dow Jones |
| EAFE | Europe, Australasia, Far East |
| ETF | Exchange-Traded Fund |
| FTSE | Financial Times Stock Exchange |
| GSI | Goldman Sachs International |
| HSBC | HSBC Bank PLC |
| MSCI | Morgan Stanley Capital International |
| MSI | Morgan Stanley & Co. International PLC |
| OTC | Over-the-counter |
| PJSC | Public Joint-Stock Company |
| REITs | Real Estate Investment Trust |
| S&P | Standard & Poor's |
| SPI | Share Price Index |
| SSB | State Street Bank & Trust Company |
| STOXX | Stock Index of the Eurozone |
| TSX | Toronto Stock Exchange |
| XAMS | Amsterdam Stock Exchange |
| XLON | London Stock Exchange |

---

A4

------

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

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of September 30, 2025 (unaudited)** |

---

---

| | |
|:---|:---|
| \* | 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 $2 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 $54,654,669; cash collateral of $55,520,572 (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.

(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:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at September 30, 2025:** | **Futures contracts outstanding at September 30, 2025:** | **Futures contracts outstanding at September 30, 2025:** | **Futures contracts outstanding at September 30, 2025:** | **Futures contracts outstanding at September 30, 2025:** |
| **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:** |
| 211 | &nbsp;&nbsp;5 Year U.S. Treasury Notes | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;$23040210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43798 |
| 671 | &nbsp;&nbsp;10 Year Australian Treasury Bonds | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50328212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101423) |
| 184 | &nbsp;&nbsp;10 Year U.K. Gilt | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22479412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82632 |
| 976 | &nbsp;&nbsp;10 Year U.S. Treasury Notes | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;109800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549397 |
| 157 | &nbsp;&nbsp;Euro STOXX 50 Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10213495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266157 |
| 615 | &nbsp;&nbsp;Euro-BTP Italian Government Bond | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86529363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136361 |
| 151 | &nbsp;&nbsp;FTSE 100 Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19104742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117846 |
| 1028 | &nbsp;&nbsp;Mini MSCI EAFE Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;143164420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535810 |
| 130 | &nbsp;&nbsp;S&P 500 E-Mini Communication Services Sector Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20281625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264612 |
| 295 | &nbsp;&nbsp;S&P 500 E-Mini Financials Sector Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49376363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129204 |
| 1731 | &nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;583238813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7804653 |
| 76 | &nbsp;&nbsp;S&P 500 E-Mini Technology Sector Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21789960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820647 |
| 203 | &nbsp;&nbsp;S&P 500 E-Mini Utilities Sector Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468520 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11118214 |
| **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** |
| 86 | &nbsp;&nbsp;10 Year Japanese Bonds | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78966359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604136 |
| 360 | &nbsp;&nbsp;30 Year U.S. Ultra Treasury Bonds | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43222500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(599418) |
| 72 | &nbsp;&nbsp;ASX SPI 200 Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10568275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8421) |
| 488 | &nbsp;&nbsp;DJ US Real Estate Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18080400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182854 |
| 1097 | &nbsp;&nbsp;Mini MSCI Emerging Markets Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74579545 | &nbsp;&nbsp;&nbsp;&nbsp;(1296716) |
| 1199 | &nbsp;&nbsp;Russell 2000 E-Mini Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;147207225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(853735) |
| 326 | &nbsp;&nbsp;S&P 500 E-Mini Consumer Staples Sector Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25988720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377819 |
| 272 | &nbsp;&nbsp;S&P 500 E-Mini Materials Sector Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26063040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706451 |
| 30 | &nbsp;&nbsp;S&P/TSX 60 Index | &nbsp;&nbsp;Dec. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7643027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142522) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(1029552) |
|  |  |  |  | &nbsp;&nbsp;$10088662 |

---

#### Forward foreign currency exchange contract outstanding at September 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44507 | &nbsp;&nbsp;$29162921 | &nbsp;&nbsp;$29459656 | &nbsp;&nbsp;$296735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14561383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14493939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67444) |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4839211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4850277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7544883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7535088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9795) |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28460252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28267676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192576) |

---

A5

------

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

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of September 30, 2025 (unaudited)** |

---

#### Forward foreign currency exchange contract outstanding at September 30, 2025 (continued):<br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 (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.):** |
| British Pound (cont'd.), | British Pound (cont'd.), | British Pound (cont'd.), | British Pound (cont'd.), | British Pound (cont'd.), | British Pound (cont'd.), | British Pound (cont'd.), | British Pound (cont'd.), |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9551 | &nbsp;&nbsp;$12957054 | &nbsp;&nbsp;$12847272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$(109782) |
| Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3697200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3668533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28667) |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9135036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9079841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55195) |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13308620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12975400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(333220) |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28035565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28076241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1616126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2808) |
| Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;JPY | &nbsp;&nbsp;1328298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8909607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9003976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11268) |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;330574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2242609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14147) |
| 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 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3337150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3253581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83569) |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9540482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9289691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(250791) |
| Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;440672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44496316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44164104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(332212) |
| Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8455687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8368764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86923) |
|  |  |  |  | &nbsp;&nbsp;$232572031 | &nbsp;&nbsp;$231436865 | &nbsp;&nbsp;&nbsp;&nbsp;443231 | &nbsp;&nbsp;&nbsp;&nbsp;(1578397) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 Contract:** | **OTC Forward Foreign Currency Exchange Contract:** | **OTC Forward Foreign Currency Exchange Contract:** | **OTC Forward Foreign Currency Exchange Contract:** | **OTC Forward Foreign Currency Exchange Contract:** | **OTC Forward Foreign Currency Exchange Contract:** | **OTC Forward Foreign Currency Exchange Contract:** | **OTC Forward Foreign Currency Exchange Contract:** |
| Danish Krone, | Danish Krone, | Danish Krone, | Danish Krone, | Danish Krone, | Danish Krone, | Danish Krone, | Danish Krone, |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8041 | &nbsp;&nbsp;&nbsp;&nbsp;$1276496 | &nbsp;&nbsp;&nbsp;&nbsp;$1267301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;BNP | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5491771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5456297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2309006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57232) |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15943) |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23065) |
| Hong Kong Dollar, | Hong Kong Dollar, | Hong Kong Dollar, | Hong Kong Dollar, | Hong Kong Dollar, | Hong Kong Dollar, | Hong Kong Dollar, | Hong Kong Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 10/30/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10086315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10106844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20529) |
| Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;JPY | &nbsp;&nbsp;4198701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28493375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28461234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;187853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, | Norwegian Krone, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;387317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38634376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38816935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182559) |
| Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3353004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, | Swedish Krona, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3123185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;452747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48553615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48162232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5658538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5688348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29810) |
| Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, | Swiss Franc, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9639463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9606436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56868998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56892752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23754) |
|  |  |  |  | &nbsp;&nbsp;$217938127 | &nbsp;&nbsp;$217722849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352892) |
|  |  |  |  |  |  | &nbsp;&nbsp;$1011401 | &nbsp;&nbsp;$(1931289) |

---

A6

------

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

---

| | |
|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **as of September 30, 2025 (unaudited)** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** | **Cross currency exchange contracts outstanding at September 30, 2025:** |
| **Settlement** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;**In Exchange<br> For (000)** | &nbsp;&nbsp;**In Exchange<br> For (000)** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** | &nbsp;&nbsp;**Counterparty** |
| **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** |
| 10/22/25 | &nbsp;&nbsp;Buy | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;26328 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$(109532) | &nbsp;&nbsp;CITI |
| 10/22/25 | &nbsp;&nbsp;Buy | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8887 | &nbsp;&nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8275 | &nbsp;&nbsp;&nbsp;&nbsp;24335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;CITI |
| 10/22/25 | &nbsp;&nbsp;Buy | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7420 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;1470876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;CITI |
| 10/22/25 | &nbsp;&nbsp;Buy | &nbsp;&nbsp;NOK | &nbsp;&nbsp;136491 | &nbsp;&nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;128138 | &nbsp;&nbsp;&nbsp;&nbsp;48088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;CITI |
|  |  |  |  |  |  | &nbsp;&nbsp;$81769 | &nbsp;&nbsp;$(109532) |  |

---

*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).*

A7

## 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 Aggressive Multi-Asset Portfolio

- **b. EDGAR series identifier (if any):** S000043713

- **c. LEI of Series:** 5493009SOZSQG1MVR494

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $2651457051.25

**Total Liabilities:** $49570478.08

**Net Assets:** $2601886573.17

**Cash Not Reported:** $7999252.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000135561 | 0.79%                | 1.85%                | 2.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5225017.05              | $9912653.63                                |
| Month 2  | $698783.35               | $38313658.01                               |
| Month 3  | $4178336.36              | $33850623.50                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Qualys Inc                                     | Qualys Inc                                                | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      8411 | NS      | $1113027.63   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc                       | Japan Exchange Group Inc                                  | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |    416500 | NS      | $4651047.67   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | XAU UTILITIES                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       203 | NC      | $468519.94    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc/MO                     | Commerce Bancshares Inc/MO                                | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27011 | NS      | $1614177.36   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms Inc                                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     31277 | NS      | $22969203.26  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                                | McDonald's Corp                                           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     23075 | NS      | $7012261.75   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                                 | AptarGroup Inc                                            | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      9759 | NS      | $1304387.94   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                 | USD/CHF FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $33026.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freshpet Inc                                   | Freshpet Inc                                              | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |     17012 | NS      | $937531.32    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc                                   | SK Hynix Inc                                              | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     24605 | NS      | $6099529.98   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                             | NextEra Energy Inc                                        | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     55236 | NS      | $4169765.64   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                       | EastGroup Properties Inc                                  | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     10618 | NS      | $1797202.68   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | EUR/USD FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-73175.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cactus Inc                                     | Cactus Inc                                                | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     37273 | NS      | $1471165.31   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                            | American Express Co                                       | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     19314 | NS      | $6415338.24   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                                | Yum! Brands Inc                                           | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |     19547 | NS      | $2971144.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands Inc                                 | Utz Brands Inc                                            | CUSIP: 918090101<br>LEI: 5299009BHBU2NH5HRN16 | Long             | EC               | CORP              | US        |    133471 | NS      | $1621672.65   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                   | UBS Group AG                                              | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     91192 | NS      | $3749227.14   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | MSCI EMGMKT                                               | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |     -1167 | NC      | $-1379453.99  | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                              | Compass Group PLC                                         | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    135256 | NS      | $4610303.58   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                          | CUSIP: 91282CJV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  57275500 | PA      | $57313534.51  | 2.20%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | E-MINI RUSS 2000                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |     -1370 | NC      | $-975608.00   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Sony Financial Group Inc                       | Sony Financial Group Inc                                  | CUSIP: 000000000<br>LEI: 353800O7BDSU41WOZA60 | Long             | EC               | CORP              | JP        |    619400 | NS      | $686895.90    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Envista Holdings Corp                          | Envista Holdings Corp                                     | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |    100690 | NS      | $2051055.30   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                                          | 3M Co                                                     | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     19129 | NS      | $2968438.22   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group PLC                                   | 3i Group PLC                                              | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |    131885 | NS      | $7269894.29   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Monarch Casino & Resort Inc                    | Monarch Casino & Resort Inc                               | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |     13547 | NS      | $1433814.48   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ServisFirst Bancshares Inc                     | ServisFirst Bancshares Inc                                | CUSIP: 81768T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15926 | NS      | $1282520.78   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp                         | WillScot Holdings Corp                                    | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |    104727 | NS      | $2210786.97   | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Colliers International Group I                 | Colliers International Group Inc                          | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |      8163 | NS      | $1275142.23   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Engie SA                                       | Engie SA                                                  | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    294083 | NS      | $6321764.12   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryman Hospitality Properties I                 | Ryman Hospitality Properties Inc                          | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     20205 | NS      | $1810165.95   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                           | Bank of America Corp                                      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    207927 | NS      | $10726953.93  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                      | Safran SA                                                 | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     52563 | NS      | $18652982.27  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Cullen/Frost Bankers Inc                       | Cullen/Frost Bankers Inc                                  | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     12939 | NS      | $1640277.03   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | JPY/USD FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $32140.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Miami International Holdings I                 | Miami International Holdings Inc                          | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |     21293 | NS      | $857256.18    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                       | Infineon Technologies AG                                  | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |    111406 | NS      | $4370476.50   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| AUSTRALIAN SECURITIES EXCHANGE TRADE24         | AUST 10Y BOND                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | AU        |       671 | NC      | $-101423.08   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Core Ultra Short Bond Fund                | PGIM Core Ultra Short Bond Fund                           | CUSIP: 000000000<br>LEI: 1VRLPVAWKZCB406TIT84 | Long             | STIV             | RF                | US        | 347286385 | NS      | $347286385.27 | 13.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                            | Dominion Energy Inc                                       | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     72881 | NS      | $4458130.77   | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Badger Meter Inc                               | Badger Meter Inc                                          | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      8274 | NS      | $1477570.92   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | DJ US REAL ESTATE                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               | CORP              | US        |      -488 | NC      | $182853.60    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Michelin                                       | Cie Generale des Etablissements Michelin SCA              | CUSIP: 000000000<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |    236149 | NS      | $8504606.64   | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | US ULTRA BOND CBT                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -360 | NC      | $-599418.45   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                        | Cushman & Wakefield PLC                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107588 | NS      | $1712800.96   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                               | Wells Fargo & Co                                          | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     97669 | NS      | $8186615.58   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | XAB MATERIALS                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -243 | NC      | $706639.14    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                             | Deutsche Boerse AG                                        | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |     17402 | NS      | $4660101.38   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| First Advantage Corp                           | First Advantage Corp                                      | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |     85080 | NS      | $1309381.20   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Novanta Inc                                    | Novanta Inc                                               | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17255 | NS      | $1728088.25   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | US 5YR NOTE (CBT)                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       211 | NC      | $43797.75     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                | ASML Holding NV                                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     18918 | NS      | $18448588.94  | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Baldwin Insurance Group Inc/Th                 | Baldwin Insurance Group Inc/The                           | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36168 | NS      | $1020299.28   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| NatWest Group PLC                              | NatWest Group PLC                                         | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |    514880 | NS      | $3636779.16   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Howmet Aerospace Inc                           | Howmet Aerospace Inc                                      | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     17707 | NS      | $3474644.61   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | S&P500 EMINI                                              | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      1835 | NC      | $8273989.75   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co                        | Modine Manufacturing Co                                   | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      9855 | NS      | $1400986.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Toro Co/The                                    | Toro Co/The                                               | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |     10190 | NS      | $776478.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | US 10YR NOTE (CBT)                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       976 | NC      | $549397.39    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc                          | Burlington Stores Inc                                     | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     10860 | NS      | $2763870.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                 | Amazon.com Inc                                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    124961 | NS      | $27437686.77  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Ultra-Short Income ETF                | JPMorgan Ultra-Short Income ETF                           | CUSIP: 46641Q837<br>LEI: 549300VN24B8TQAGGX74 | Long             | EC               | RF                | US        |   2001669 | NS      | $101544668.37 | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                          | NXP Semiconductors NV                                     | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |     12481 | NS      | $2842298.13   | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| SM Energy Co                                   | SM Energy Co                                              | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     62895 | NS      | $1570488.15   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group                 | Mitsubishi UFJ Financial Group Inc                        | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    982100 | NS      | $15842626.89  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Driven Brands Holdings Inc                     | Driven Brands Holdings Inc                                | CUSIP: 26210V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72534 | NS      | $1168522.74   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Tencent Holdings Ltd                           | Tencent Holdings Ltd                                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |    274100 | NS      | $23355951.97  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                             | LONG GILT                                                 | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |       184 | NC      | $82632.37     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | USD/SGD FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $52900.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutio                 | Bright Horizons Family Solutions Inc                      | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20413 | NS      | $2216239.41   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp                           | Quaker Chemical Corp                                      | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |     12009 | NS      | $1582185.75   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Shake Shack Inc                                | Shake Shack Inc                                           | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |      9656 | NS      | $903898.16    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Intact Financial Corp                          | Intact Financial Corp                                     | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |     16460 | NS      | $3202467.63   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                 | Microsoft Corp                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     74716 | NS      | $38699152.20  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                                  | CME Group Inc                                             | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     15469 | NS      | $4179569.11   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol                 | MACOM Technology Solutions Holdings Inc                   | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17008 | NS      | $2117325.92   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                      | Alibaba Group Holding Ltd                                 | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |    441600 | NS      | $9875993.82   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | XAK TECHNOLOGY                                            | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        76 | NC      | $820646.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | DKK/USD FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $9195.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                               | Exxon Mobil Corp                                          | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    109965 | NS      | $12398553.75  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Copco AB                                 | Atlas Copco AB                                            | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |    553961 | NS      | $9394061.80   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | USD/CAD FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-55194.56    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT              | EURO STOXX 50                                             | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |       157 | NC      | $266157.31    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HKEX                                           | Hong Kong Exchanges & Clearing Ltd                        | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |    169500 | NS      | $9622609.28   | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                                   | Keyence Corp                                              | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     14300 | NS      | $5327621.05   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Apple Inc                                      | Apple Inc                                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     74117 | NS      | $18872411.71  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co                        | Arthur J Gallagher & Co                                   | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     12988 | NS      | $4022903.12   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Wyndham Hotels & Resorts Inc                   | Wyndham Hotels & Resorts Inc                              | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     20750 | NS      | $1657925.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Eagle Materials Inc                            | Eagle Materials Inc                                       | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      8630 | NS      | $2011135.20   | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Shell PLC                                      | Shell PLC                                                 | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    314627 | NS      | $11213633.14  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Gazprom PJSC                                   | Gazprom PJSC                                              | CUSIP: 000000000<br>LEI: 213800FD9J2IHTA7YX78 | Long             | EC               | CORP              | RU        |    321836 | NS      | $0.39         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Kinsale Capital Group Inc                      | Kinsale Capital Group Inc                                 | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      3738 | NS      | $1589621.88   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Medtronic PLC                                  | Medtronic PLC                                             | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     33784 | NS      | $3217588.16   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | XAF FINANCIAL                                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       295 | NC      | $129204.10    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                                | ICU Medical Inc                                           | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |     13511 | NS      | $1620779.56   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Citibank, National Association                 | USD/NOK FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-182558.89   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Applied Industrial Technologie                 | Applied Industrial Technologies Inc                       | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      6510 | NS      | $1699435.50   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc                      | Casella Waste Systems Inc                                 | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     22125 | NS      | $2099220.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp                         | Paylocity Holding Corp                                    | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     11266 | NS      | $1794335.82   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT                       | Bank Central Asia Tbk PT                                  | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   7689000 | NS      | $3521258.08   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Lonza Group AG                                 | Lonza Group AG                                            | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |      7810 | NS      | $5222065.48   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                                 | Air Liquide SA                                            | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     40355 | NS      | $8408231.73   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoya Corp                                      | Hoya Corp                                                 | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     38400 | NS      | $5309581.83   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Salesforce Inc                                 | Salesforce Inc                                            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     12765 | NS      | $3025305.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd                     | Axalta Coating Systems Ltd                                | CUSIP: 000000000<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | US        |     46106 | NS      | $1319553.72   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                                    | Gentex Corp                                               | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     53567 | NS      | $1515946.10   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AUSTRALIAN SECURITIES EXCHANGE TRADE24         | SPI 200                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | AU        |       -72 | NC      | $-8420.79     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                 | JPY/USD FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-11268.25    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                             | JAPAN 10Y BOND(OSE)                                       | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              | CORP              | JP        |       -86 | NC      | $604136.32    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                 | NOK/SEK FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $48088.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                    | Novartis AG                                               | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     51252 | NS      | $6589899.75   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                 | AUD/USD FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $240357.88    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Woodward Inc                                   | Woodward Inc                                              | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      2725 | NS      | $688634.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HeadHunter Group PLC                           | HeadHunter Group PLC                                      | CUSIP: 42207L106<br>LEI: 549300IMUCFEWXP6RU11 | Long             | EC               | CORP              | RU        |      7400 | NS      | $0.74         | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| Landstar System Inc                            | Landstar System Inc                                       | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     11922 | NS      | $1461160.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY & CO. LLC                       | USD/JPY FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-14147.49    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | CAD/USD FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-333219.78   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Portland General Electric Co                   | Portland General Electric Co                              | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     35194 | NS      | $1548536.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Perimeter Solutions Inc                        | Perimeter Solutions Inc                                   | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50616 | NS      | $1133292.24   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem In                 | First Interstate BancSystem Inc                           | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     44848 | NS      | $1429305.76   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                               | RBC Bearings Inc                                          | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4808 | NS      | $1876514.32   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                          | Element Solutions Inc                                     | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     82579 | NS      | $2078513.43   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                            | American Tower Corp                                       | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     22081 | NS      | $4246617.92   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | USD/SEK FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $391383.28    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                     | National Bank of Greece SA                                | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |    227810 | NS      | $3317242.01   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Brunswick Corp/DE                              | Brunswick Corp/DE                                         | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     20533 | NS      | $1298506.92   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Ozon Holdings PLC                              | Ozon Holdings PLC                                         | CUSIP: 69269L104<br>LEI: 213800GXSI7E5V776B13 | Long             | EC               | CORP              | RU        |      6700 | NS      | $0.67         | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| MSA Safety Inc                                 | MSA Safety Inc                                            | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     17179 | NS      | $2955990.53   | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Charles Schwab Corp/The                        | Charles Schwab Corp/The                                   | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     43986 | NS      | $4199343.42   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                                | Morningstar Inc                                           | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      7689 | NS      | $1783924.89   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | EUR/USD FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2423.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                      | Nestle SA                                                 | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     68543 | NS      | $6294663.13   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                  | Al Rajhi Bank                                             | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |    181231 | NS      | $5178714.68   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Lincoln Electric Holdings Inc                  | Lincoln Electric Holdings Inc                             | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      5327 | NS      | $1256266.41   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| CHICAGO MERCANTILE EXCHANGE INC.               | S&P EMINI COM SER                                         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |       130 | NC      | $264612.40    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc                 | Fortune Brands Innovations Inc                            | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     13385 | NS      | $714625.15    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Saia Inc                                       | Saia Inc                                                  | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      4076 | NS      | $1220191.36   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| CubeSmart                                      | CubeSmart                                                 | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39581 | NS      | $1609363.46   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                 | EUR/CAD FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-109531.97   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                 | CHF/EUR FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $24334.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | AUD/USD FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-9794.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Acushnet Holdings Corp                         | Acushnet Holdings Corp                                    | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |     18334 | NS      | $1439035.66   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Morgan Stanley                                 | Morgan Stanley                                            | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     42260 | NS      | $6717649.60   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                           | Taiwan Semiconductor Manufacturing Co Ltd                 | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    335000 | NS      | $14551672.11  | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Allegro MicroSystems Inc                       | Allegro MicroSystems Inc                                  | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35702 | NS      | $1042498.40   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                           | Taiwan Semiconductor Manufacturing Co Ltd                 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     38967 | NS      | $10883093.43  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                       | Fabrinet                                                  | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | TH        |      3739 | NS      | $1363314.18   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Citibank, National Association                 | GBP/JPY FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $9345.36      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Linde PLC                                      | Linde PLC                                                 | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |     11570 | NS      | $5495750.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corp                             | First Horizon Corp                                        | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     36889 | NS      | $834060.29    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information                  | Fidelity National Information Services Inc                | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     37833 | NS      | $2494708.02   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc                            | Karman Holdings Inc                                       | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12184 | NS      | $879684.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| IHI Corp                                       | IHI Corp                                                  | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |    242900 | NS      | $4523836.42   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The                               | Coca-Cola Co/The                                          | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    143657 | NS      | $9527332.24   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                          | Encompass Health Corp                                     | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     19987 | NS      | $2538748.74   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                              | Johnson & Johnson                                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     85845 | NS      | $15917379.90  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc                             | First Hawaiian Inc                                        | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     57270 | NS      | $1422014.10   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc                              | Loar Holdings Inc                                         | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13820 | NS      | $1105600.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                       | AT&T Inc                                                  | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    136245 | NS      | $3847558.80   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc                            | StepStone Group Inc                                       | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31733 | NS      | $2072482.23   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd                         | DBS Group Holdings Ltd                                    | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |    278600 | NS      | $11048665.00  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                               | Novo Nordisk A/S                                          | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     68831 | NS      | $3832624.83   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| RLI Corp                                       | RLI Corp                                                  | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               | CORP              | US        |     23825 | NS      | $1553866.50   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| MercadoLibre Inc                               | MercadoLibre Inc                                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |      1505 | NS      | $3517094.70   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                             | Walt Disney Co/The                                        | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    115879 | NS      | $13268145.50  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp                         | Hillman Solutions Corp                                    | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    147967 | NS      | $1358337.06   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GCI LIBERTY INC                                | GCI LIBERTY INC ESCROW SHARE                              | CUSIP: 361ESC049<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5713 | NS      | $0.57         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CCC Intelligent Solutions Hold                 | CCC Intelligent Solutions Holdings Inc                    | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    128822 | NS      | $1173568.42   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Performance Food Group Co                      | Performance Food Group Co                                 | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     25460 | NS      | $2648858.40   | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Janus International Group Inc                  | Janus International Group Inc                             | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    144797 | NS      | $1429146.39   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Deutsche Telekom AG                            | Deutsche Telekom AG                                       | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |    111805 | NS      | $3809137.02   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| BJ's Wholesale Club Holdings I                 | BJ's Wholesale Club Holdings Inc                          | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      6062 | NS      | $565281.50    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                           | Hayward Holdings Inc                                      | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    173918 | NS      | $2629640.16   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | HKD/USD FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-20528.81    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Clearwater Analytics Holdings                  | Clearwater Analytics Holdings Inc                         | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81333 | NS      | $1465620.66   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| GOLDMAN SACHS & CO. LLC                        | USD/JPY FORWARD                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2997.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| First Financial Bancorp                        | First Financial Bancorp                                   | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     60919 | NS      | $1538204.75   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | USD/EUR FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $40675.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AbbVie Inc                                     | AbbVie Inc                                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     36267 | NS      | $8397261.18   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co                            | Emerson Electric Co                                       | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     42420 | NS      | $5564655.60   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| RELX PLC                                       | RELX PLC                                                  | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |     59262 | NS      | $2831469.66   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Munich Re                                      | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |     18343 | NS      | $11711532.69  | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                 | SEK/USD FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $11051.89     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                 | CAD/USD FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-28667.21    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | USD/CHF FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-86922.86    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                     | Legrand SA                                                | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |     39104 | NS      | $6497563.01   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Telstra Group Ltd                              | Telstra Group Ltd                                         | CUSIP: 000000000<br>LEI: 894500WRW54CVN62K416 | Long             | EC               | CORP              | AU        |   1623579 | NS      | $5176171.50   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                                   | KBC Group NV                                              | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | EC               | CORP              | BE        |     51535 | NS      | $6175899.87   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Active Growth ETF                     | JPMorgan Active Growth ETF                                | CUSIP: 46654Q609<br>LEI: 5493001GSJ14WQX68P70 | Long             | EC               | RF                | US        |   2327054 | NS      | $218161312.50 | 8.38%             |  |  |  | No            |                  1 | On Loan: —       |
| SPS Commerce Inc                               | SPS Commerce Inc                                          | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |      9519 | NS      | $991308.66    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                 | USD/NOK FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-332212.27   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Hanwha Aerospace Co Ltd                        | Hanwha Aerospace Co Ltd                                   | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |      5487 | NS      | $4339313.51   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Accelerant Holdings                            | Accelerant Holdings                                       | CUSIP: 000000000<br>LEI: 213800VS4CX9ZONTD965 | Long             | EC               | CORP              | KY        |     33988 | NS      | $506081.32    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| MONTREAL EXCHANGE INC.                         | S&P/TSX 60 IX                                             | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DE               | CORP              | CA        |       -30 | NC      | $-142521.73   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                             | Analog Devices Inc                                        | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      8987 | NS      | $2208105.90   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | USD/JPY FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $94368.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                | AstraZeneca PLC                                           | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     31416 | NS      | $4812966.23   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| BankUnited Inc                                 | BankUnited Inc                                            | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     43060 | NS      | $1643169.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                         | UnitedHealth Group Inc                                    | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     13934 | NS      | $4811410.20   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Paren                 | Concentra Group Holdings Parent Inc                       | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71415 | NS      | $1494715.95   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                                   | Evercore Inc                                              | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      5922 | NS      | $1997609.04   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                   | USD/EUR FORWARD                                           | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $35474.40     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitt                 | LVMH Moet Hennessy Louis Vuitton SE                       | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |     12265 | NS      | $7547651.76   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Kia Corp                                       | Kia Corp                                                  | CUSIP: 000000000<br>LEI: 988400V8MJK9N7OI5X76 | Long             | EC               | CORP              | KR        |     50164 | NS      | $3600616.27   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| PGIM Institutional Money Market Fund - D       | PGIM Institutional Money Market Fund - D                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  45960544 | NS      | $45932968.15  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC               | USD/GBP FORWARD                                           | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-192576.06   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.               | XAP CONS STAPLES                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -253 | NC      | $378988.94    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association                 | NZD/USD FORWARD                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-83568.98    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                                | Sony Group Corp                                           | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    619400 | NS      | $17805707.24  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Marriott International Inc/MD                  | Marriott International Inc/MD                             | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     12992 | NS      | $3383636.48   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Pernod Ricard SA                               | Pernod Ricard SA                                          | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |     17879 | NS      | $1760198.55   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Volvo AB                                       | Volvo AB                                                  | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |    509248 | NS      | $14644753.24  | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                        | USD/NZD FORWARD                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-250791.32   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Lowe's Cos Inc                                 | Lowe's Cos Inc                                            | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     40867 | NS      | $10270285.77  | 0.39%             |  |  |  | No            |                  1 | On Loan: —       |
| nCino Inc                                      | nCino Inc                                                 | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |     24960 | NS      | $676665.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Southern Co/The                                | Southern Co/The                                           | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    126808 | NS      | $12017594.16  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                  | UniCredit SpA                                             | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     78965 | NS      | $6008850.39   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Moelis & Co                                    | Moelis & Co                                               | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |     10639 | NS      | $758773.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Active Value ETF                      | JPMorgan Active Value ETF                                 | CUSIP: 46641Q167<br>LEI: 549300WXH93S1D430S16 | Long             | EC               | RF                | US        |   2976490 | NS      | $205258750.40 | 7.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                         | MSCI EAFE                                                 | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |      1155 | NC      | $617157.15    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                      | Tesla Inc                                                 | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     10656 | NS      | $4738936.32   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc                       | MarketAxess Holdings Inc                                  | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |      9736 | NS      | $1696498.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                                | Ross Stores Inc                                           | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     14653 | NS      | $2232970.67   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Global Select Equity ETF              | JPMorgan Global Select Equity ETF                         | CUSIP: 46654Q740<br>LEI: 5493000IA63JXH4YO068 | Long             | EC               | RF                | US        |   4282747 | NS      | $290241764.19 | 11.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho                 | Knight-Swift Transportation Holdings Inc                  | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20415 | NS      | $806596.65    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                    | NVIDIA Corp                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    217459 | NS      | $40573500.22  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd                      | Shin-Etsu Chemical Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |     69000 | NS      | $2259303.97   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| AST J.P. Morgan Fixed Income Central Portfolio | AST J.P. Morgan Fixed Income Central Portfolio            | CUSIP: 000000000<br>LEI: 549300GMPRFOKDNCEZ38 | Long             | EC               | CORP              | US        |  34609087 | NS      | $398350587.33 | 15.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                         | Trane Technologies PLC                                    | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     17286 | NS      | $7294000.56   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp                                    | ITOCHU Corp                                               | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |     77000 | NS      | $4381176.50   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | USD/SEK FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-29810.35    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Yum China Holdings Inc                         | Yum China Holdings Inc                                    | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | CN        |    169981 | NS      | $7295584.52   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Planet Fitness Inc                             | Planet Fitness Inc                                        | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     18356 | NS      | $1905352.80   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Balchem Corp                                   | Balchem Corp                                              | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     10381 | NS      | $1557772.86   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc                   | Simpson Manufacturing Co Inc                              | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |     10685 | NS      | $1789310.10   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                                 | Five Below Inc                                            | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      5332 | NS      | $824860.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | USD/EUR FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-23065.08    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd                          | Mitsui Fudosan Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    452400 | NS      | $4924874.73   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                                 | Eaton Corp PLC                                            | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     12396 | NS      | $4639203.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                        | Wintrust Financial Corp                                   | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     15076 | NS      | $1996665.44   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                               | HealthEquity Inc                                          | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     16494 | NS      | $1563136.38   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Warby Parker Inc                               | Warby Parker Inc                                          | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11507 | NS      | $317363.06    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                   | Danaher Corp                                              | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     18490 | NS      | $3665827.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                     | US Bancorp                                                | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     69921 | NS      | $3379281.93   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                     | Chipotle Mexican Grill Inc                                | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40391 | NS      | $1582923.29   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                        | Bristol-Myers Squibb Co                                   | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     56034 | NS      | $2527133.40   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc                               | Vail Resorts Inc                                          | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      5961 | NS      | $891586.77    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| WSP Global Inc                                 | WSP Global Inc                                            | CUSIP: 92938W202<br>LEI: 549300IQ87LU6X6ERQ78 | Long             | EC               | CORP              | CA        |     20384 | NS      | $4005909.32   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON Inc                                       | AAON Inc                                                  | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16735 | NS      | $1563718.40   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Baker Hughes Co                                | Baker Hughes Co                                           | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    175848 | NS      | $8567314.56   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowco Holdings Inc                            | Flowco Holdings Inc                                       | CUSIP: 342909108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46343 | NS      | $688193.55    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                              | Expedia Group Inc                                         | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9592 | NS      | $2050290.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                     | GBP/USD FORWARD                                           | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-109781.23   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Kao Corp                                       | Kao Corp                                                  | CUSIP: 000000000<br>LEI: 353800HM38HFCB8RGL63 | Long             | EC               | CORP              | JP        |     97900 | NS      | $4266584.51   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT              | EURO-BTP                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       615 | NC      | $136360.92    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                                | Brookfield Corp                                           | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     42812 | NS      | $2937499.37   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                           | Royal Bank of Canada                                      | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |     49482 | NS      | $7293057.30   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                  | HDFC Bank Ltd                                             | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    212365 | NS      | $7254388.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                 | Mastercard Inc                                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     18560 | NS      | $10557113.60  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                             | FTSE 100 INDEX                                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DE               | CORP              | GB        |       151 | NC      | $117845.52    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                               | DT Midstream Inc                                          | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14535 | NS      | $1643327.10   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc                         | Digi International Inc                                    | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |      9314 | NS      | $339588.44    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX PLC                                       | RELX PLC                                                  | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |    121292 | NS      | $5813521.37   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Primo Brands Corp                              | Primo Brands Corp                                         | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |     80593 | NS      | $1781105.30   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                     | Siemens AG                                                | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     49688 | NS      | $13414668.42  | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Medpace Holdings Inc                           | Medpace Holdings Inc                                      | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      1513 | NS      | $777924.08    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc                         | Power Integrations Inc                                    | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     33769 | NS      | $1357851.49   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken NV                                    | Heineken NV                                               | CUSIP: 000000000<br>LEI: 724500K5PTPSST86UQ23 | Long             | EC               | CORP              | NL        |     65464 | NS      | $5126421.07   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Verra Mobility Corp                            | Verra Mobility Corp                                       | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |     67938 | NS      | $1678068.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                       | USD/CHF FORWARD                                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-23754.01    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chemed Corp                                    | Chemed Corp                                               | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      4560 | NS      | $2041694.40   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                                | Core & Main Inc                                           | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39482 | NS      | $2125316.06   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp                            | WSFS Financial Corp                                       | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |     26837 | NS      | $1447319.41   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** Advanced Series Trust

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer