AST Preservation Asset Allocation Portfolio
Advanced Series Trust
Fund classification
Classified from what the fund holds · as of 2026 Q2
AST Preservation Asset Allocation Portfolio is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Portfolio is to obtain the highest potential total return consistent with its specified level of risk tolerance.
The fund pursues a target asset allocation of approximately 35% equities and 65% fixed income through investments in underlying portfolios selected by the manager, with day-to-day allocation decisions delegated to subadviser PGIM Quantitative Solutions. PGIM Quantitative Solutions constructs a neutral allocation anchored to the Russell 3000 Index, MSCI EAFE Index, and Bloomberg US Aggregate Bond Index, then adjusts it based on forward-looking macroeconomic and valuation assessments. The fund implements an overlay strategy using derivatives and cash instruments to manage liquidity, rebalance exposures, and handle redemptions. Because the fund's actual allocations reflect the subadviser's discretionary views rather than mechanical index tracking, returns will diverge from any single benchmark.
| Share class | Gross | Net |
|---|---|---|
| C000018402 | 0.94% | 0.89% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 50.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 73.70% |
| Bonds | 19.20% |
| Securitized | 6.60% |
| Cash & short-term | 0.62% |
| 2 smaller | 0.34% |
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 | 61.6% |
| Government | 11.7% |
| Securitized | 6.5% |
| International | 6.2% |
| 12 smaller | 14.0% |
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 ×3, Advanced Series Trust, ISHARES TRUST, BATTALION CLO LTD 2024-25, MONUMENT CLO 1 DAC, FEDERAL HOME LOAN MORTGAGE CORP
Largest exited: Advanced Series Trust, Monument CLO 1 Designated Activity Co., ELMWOOD CLO 25 LTD, United States Treasury Bills, Regatta VIII Funding Ltd, United States Treasury Bonds, BAIN CAPITAL CREDIT CLO 2022-5 LTD, Toro European CLO 9 Designated Activity Co.
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 | 74.3% |
| Floating rate | 20.9% |
| Zero-coupon or unclassified | 4.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.3% |
| 1-3y | 13.4% |
| 3-5y | 15.2% |
| 5-10y | 25.0% |
| 10y+ | 40.1% |
| Unknown | 2.1% |
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 about half 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 | 70% |
| Credit spreads | 30% |
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 | +0.64 yr |
| High yield | +0.10 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 | 0.01 yr | 1% |
| 1 yr | 0.17 yr | 10% |
| 5 yr | 0.59 yr | 33% |
| 10 yr | 0.71 yr | 40% |
| 30 yr | 0.28 yr | 16% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.11 yr | 15% |
| 5 yr | 0.43 yr | 59% |
| 10 yr | 0.16 yr | 22% |
| 30 yr | 0.03 yr | 4% |
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 | +0.01 | +0.00 | +0.00 | $65 | $401 |
| 1 yr | +0.17 | +0.07 | +0.04 | $21.1k | $10.9k |
| 5 yr | +0.59 | +0.38 | +0.05 | $111.4k | $15.7k |
| 10 yr | +0.71 | +0.16 | +0.01 | $45.7k | $2.1k |
| 30 yr | +0.28 | +0.03 | +0.00 | $9.4k | $184 |
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 1.76 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 |
|---|---|---|---|---|---|
| — | Advanced Series Trust | 29.34% | $12.10 | $861.18M | 71.2M |
| — | PRUDENTIAL INVESTMENT PORTFOLIOS 2 | 8.50% | $1.00 | $249.48M | 249.5M |
| — | DIMENSIONAL ETF TRUST | 6.08% | $81.94 | $178.36M | 2.2M |
| — | Advanced Series Trust | 2.53% | $116.83 | $74.36M | 636.5K |
| — | ISHARES TRUST | 1.89% | $748.89 | $55.48M | 74.1K |
| — | ISHARES TRUST | 1.51% | $242.43 | $44.26M | 182.6K |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.00% · due 2033-01-31 | 1.32% | — | $38.90M | — |
| — | PRUDENTIAL SERIES FUND | 1.23% | $162.63 | $36.10M | 222.0K |
| — | DIMENSIONAL ETF TRUST | 1.19% | $42.21 | $34.87M | 826.2K |
| — | ISHARES TRUST | 1.12% | $124.17 | $32.97M | 265.5K |
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 54.72% of net assets, top 25 64.63%, across 1.3K 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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