AST Advanced Strategies Portfolio
Data updated: 2026-08-26
C000018405 — AST Advanced Strategies Portfolio. United States Large Cap Blend / Core Equity · $5.16B AUM. Holdings, fees, performance and SEC filings.
C000018405 Fund Overview
AST Advanced Strategies Portfolio is a US mutual fund managed by Advanced Series Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Advanced Series Trust
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $5.16B
- 1-year return: 16.1%
- SEC CIK: 0000814679
- SEC series ID: S000006797
- Share class ID: C000018405
C000018405 Investment Objective and Strategy
AST Advanced Strategies Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advanced Series Trust.
Investment objective
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.
Principal investment strategy
The Portfolio's asset allocation generally provides for an allotment of approximately 60% of Portfolio assets to a combination of domestic and international equity strategies and an allotment of approximately 40% of Portfolio assets to a combination of US fixed income, hedged international bond, real return, and other non-traditional investment strategies, including real estate and commodities. The Portfolio is subadvised by PGIM Quantitative Solutions LLC (PGIM Quantitative Solutions), which allocates the Portfolio's net assets across different investment categories and different subadvisers. PGIM Quantitative Solutions also directly manages a portion of the Portfolio's assets. Certain investment categories contain sub-categories. The subadviser for a category or sub-category employs a specific investment strategy for that category or sub-category.
PGIM Quantitative Solutions employs a two-tiered approach to allocating Portfolio assets across the various investment categories, sub-categories, and the subadvisers. First, PGIM Quantitative Solutions analyzes the macro-economic landscape, the capital markets, and the related implications for each investment strategy. Second, PGIM Quantitative Solutions draws on its understanding of the strategies used by the other subadvisers to determine which subadvisers are expected to perform best under the prevailing macro-economic landscape. The Portfolio may use derivative instruments to gain exposure to certain traditional and non-traditional investment strategies. The Portfolio may engage in short sales and may invest in fixed income securities that are rated below investment grade by the major ratings services, or, if unrated, considered to be of comparable quality (i.e., junk bonds), in connection with these investment strategies.
In managing the Portfolio's assets, portfolio managers use a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models and risk management systems. In the top- down economic analysis, portfolio managers develop views on economic, policy, and market trends by continually evaluating economic data that affect the movement of markets and securities prices. In their bottom-up research, portfolio managers develop an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer, which include a review of the issuer's composition of revenue, profitability, cash flow margin, and leverage. The subadviser may also consider investment factors such as expected total return, yield, spread, and potential for price appreciation as well as credit quality, maturity, and risk.
The Portfolio may invest in a security based upon the expected total return rather than the yield of such security. PGIM Quantitative Solutions directly manages the Portfolio's liquidity strategy. The Portfolio allocates approximately 15-25% of its net assets to the liquidity strategy, which is employed through an overlay sleeve. The liquidity strategy seeks to allow for the efficient management of Portfolio-level risk and changes in the Portfolio's asset levels, liquidity, and asset allocations. The liquidity strategy is also used to access and adjust exposures to various asset classes and underlying strategy allocations. The liquidity strategy is invested primarily in (i) derivative instruments including, but not limited to, swaps, forwards, index futures, other futures contracts, and options thereon to provide liquid exposure to the applicable equity and fixed income benchmark indices; and (ii) cash, money market equivalents, short-term debt instruments, money market funds, and short-term debt funds to satisfy all applicable margin requirements for the futures contracts and to provide additional portfolio liquidity to satisfy large-scale redemptions.
The liquidity strategy also invests in exchange-traded funds (ETFs) for additional exposure to relevant markets. The liquidity strategy may temporarily deviate from the allocation indicated due to redemptions in the Portfolio or other circumstances relevant to the Portfolio's overall investment process. To achieve its investment strategies, the Portfolio may invest in other pooled investment vehicles, including, without limitation, open-end or closed-end investment companies, ETFs, and unit investment trusts (collectively referred to as underlying portfolios). In addition to the Portfolio's investment in those underlying portfolios, the Portfolio may also invest its assets in the AST PGIM Fixed Income Central Portfolio (the PGIM Central Portfolio). The PGIM Central Portfolio is a special type of investment vehicle for sole use by certain asset allocation portfolios, including the Portfolio.
The PGIM Central Portfolio normally invests at least 80% of its assets (net assets plus any borrowings made for investment purposes) in investment grade bonds. Rather than buy bonds directly, the Portfolio may invest in the PGIM Central Portfolio. The Portfolio may invest without limit in the PGIM Central Portfolio. The remainder of the Portfolio's assets will be managed directly by subadvisers to the Portfolio. Those percentages and allocations are subject to change by the Manager and PGIM Quantitative Solutions.
C000018405 Holdings
Top 10 holdings of AST Advanced Strategies Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Prudential Investment Portfolios 2 | 10.68% |
| Advanced Series Trust | 10.55% |
| Advanced Series Trust | 3.25% |
| Advanced Series Trust | 2.97% |
| Dimensional ETF Trust | 2.96% |
| Prudential Investment Portfolios 9 | 2.75% |
| NVIDIA Corp. | 1.59% |
| United States Of America - Bureau Of The Public Debt | 1.46% |
| Apple, Inc. | 1.40% |
| Dimensional ETF Trust | 1.35% |
C000018405 Portfolio Allocation
Asset-class allocation of AST Advanced Strategies Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 82.1% |
| Fixed Income | 13.6% |
| Cash & Equivalents | 2.7% |
| Securitized | 2.3% |
| Derivatives | 1.1% |
| Real Estate | 0.6% |
| Loans | 0.1% |
C000018405 Performance
Total returns for C000018405 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 7.9% |
| 1 year | 16.1% |
| 3 years (annualised) | 13.6% |
| 5 years (annualised) | 6.5% |
C000018405 Risk Information
Risk metrics for C000018405, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.1%
C000018405 Costs and Fees
C000018405 costs about $90 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.90%
- Gross expense ratio: 1.01%
- Portfolio turnover: 73%
- Brokerage commissions: 1.80 bps of average net assets (SEC N-CEN)
C000018405 Cashflows
Over the 12 months to 2026-06, AST Advanced Strategies Portfolio had net outflows of $1.03B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$88.24M |
| 2026-05 | −$82.65M |
| 2026-04 | −$54.36M |
| 2026-03 | −$156.20M |
| 2026-02 | −$84.91M |
| 2026-01 | −$81.00M |
C000018405 Debt Constituents
Largest debt holdings of AST Advanced Strategies Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 1.46% |
| United States Of America - Bureau Of The Public Debt | 1.19% |
| United States Of America - Bureau Of The Public Debt | 0.68% |
| United Kingdom - The Lord Commissioners Of Her Majesty's Treasury Debt Management Office | 0.54% |
| United States Of America - Bureau Of The Public Debt | 0.45% |
| United States Of America - Bureau Of The Public Debt | 0.38% |
| United States Of America - Bureau Of The Public Debt | 0.34% |
| United States Of America - Bureau Of The Public Debt | 0.31% |
| United States Of America - Bureau Of The Public Debt | 0.29% |
| Hsbc Holdings PLC | 0.27% |
C000018405 Prospectus and SEC Filings
Official AST Advanced Strategies Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-16
- Prospectus (485BPOS) — filed 2025-04-17
- Prospectus supplement (497) — filed 2024-11-08
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-27
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.