AST Multi-Asset Diversified Portfolio
Advanced Series Trust
Fund classification
Classified from what the fund holds · as of 2026 Q2
AST Multi-Asset Diversified Portfolio is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Portfolio is to seek a high level of absolute return by using traditional and non-traditional investment strategies and by investing in domestic and foreign equity and fixed income securities, derivative instruments and other investment companies.
The fund is subadvised by PGIM Quantitative Solutions, which allocates assets across multiple investment categories and subadvisers based on macro-economic analysis and expected performance under prevailing market conditions. The Portfolio targets approximately 60% in domestic and international equities and 40% in fixed income, real return strategies, real estate, and commodities, with a 15–25% liquidity overlay using derivatives and cash to manage risk and redemptions. The fund may invest in below-investment-grade bonds, use short sales and derivative instruments, and invests through other pooled vehicles rather than holding securities directly. Because subadviser selection and asset allocation depend on forward-looking views of economic conditions and strategy performance, actual allocations and returns will vary with the accuracy of those views.
| Share class | Gross | Net |
|---|---|---|
| C000018405 | 1.01% | 0.90% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 73.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 82.69% |
| Bonds | 13.02% |
| Cash & short-term | 2.75% |
| Securitized | 2.29% |
| 2 smaller | 1.72% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Other | 44.3% |
| International | 14.0% |
| Government | 10.4% |
| Information Technology | 8.0% |
| 12 smaller | 23.3% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT ×6, Advanced Series Trust, ISHARES TRUST
Largest exited: United States Treasury Bills ×3, Advanced Series Trust, iShares Trust, United States Treasury Notes ×2, Voya CLO 2014-4 Ltd
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 65.9% |
| Zero-coupon or unclassified | 22.2% |
| Floating rate | 11.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 21.7% |
| 1-3y | 14.8% |
| 3-5y | 15.3% |
| 5-10y | 21.6% |
| 10y+ | 25.1% |
| Unknown | 1.6% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying a small fraction as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 81% |
| Credit spreads | 19% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.19 yr |
| High yield | +0.04 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 2% |
| 1 yr | 0.11 yr | 11% |
| 5 yr | 0.37 yr | 37% |
| 10 yr | 0.33 yr | 33% |
| 30 yr | 0.16 yr | 16% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.03 yr | 14% |
| 5 yr | 0.15 yr | 67% |
| 10 yr | 0.04 yr | 17% |
| 30 yr | 0.00 yr | 2% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | -0.00 | +0.00 | -$89 | $270 |
| 1 yr | +0.11 | +0.02 | +0.01 | $10.3k | $5.9k |
| 5 yr | +0.37 | +0.13 | +0.02 | $69.1k | $9.6k |
| 10 yr | +0.33 | +0.03 | +0.00 | $17.8k | $2.1k |
| 30 yr | +0.16 | +0.00 | +0.00 | $2.3k | $211 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 0.98 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | PRUDENTIAL INVESTMENT PORTFOLIOS 2 | 10.68% | $1.00 | $551.12M | 551.1M |
| — | Advanced Series Trust | 9.15% | $12.10 | $472.20M | 39.0M |
| — | Advanced Series Trust | 3.25% | $116.83 | $167.75M | 1.4M |
| — | Advanced Series Trust | 2.97% | $68.21 | $153.19M | 2.2M |
| — | DIMENSIONAL ETF TRUST | 2.96% | $81.94 | $152.93M | 1.9M |
| — | PRUDENTIAL INVESTMENT PORTFOLIOS 9 | 2.75% | — | $141.76M | — |
| NVDA | NVIDIA CORPNVDA | 1.59% | $200.09 | $81.82M | 408.9K |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2026-12-24 | 1.47% | — | $75.56M | — |
| AAPL | APPLE INCAAPL | 1.40% | $289.36 | $72.37M | 250.1K |
| — | Advanced Series Trust | 1.40% | $102.46 | $72.21M | 704.8K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 37.63% of net assets, top 25 51.20%, across 1.2K issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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