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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-03836
Anchor Series Trust
(Exact name of registrant as specified in charter)
Harborside Financial Center, 3200 Plaza 5 Jersey City, NJ 07311
(Address of principal executive offices) (Zip code)
John T. Genoy
Senior Vice President
SunAmerica Asset Management Corp.
Harborside Financial Center,
3200 Plaza 5
Jersey City, NJ 07311
(Name and address of agent for service)
Registrant’s telephone number, including area code: (201) 324-6414
Date of fiscal year end: December 31
Date of reporting period: June 30, 2013
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Item 1. | Reports to Stockholders |
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ANCHOR SERIES TRUST
SEMI-ANNUAL REPORT
JUNE 30, 2013
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Dear Anchor Series Trust Investor:
We are pleased to present our semiannual report for the Anchor Series Trust, the underlying investment portfolios for the series of variable products issued by our Life Companies.
The following report contains the investment portfolio information and the financial statements of the Anchor Series Trust portfolios for the reporting period ended June 30, 2013. The report may also contain information on portfolios not currently available in your variable contract.
We believe this information will give you some insight into the performance of your underlying investments. If you have any questions, please contact your investment representative, or you may contact us directly at 1-800-445-7862.
Thank you for the confidence you place in us with your financial future, and we look forward to reporting to you once again in six months.
Sincerely,
John T. Genoy
President
Anchor Series Trust, SunAmerica Series Trust and Seasons Series Trust
August 14, 2013
Note: All performance figures quoted are for the Anchor Series Trust. They do not reflect fees and charges associated with the variable annuity. Past performance is no guarantee of future results. Annuities are long-term investment vehicles designed for retirement purposes. Early withdrawal may be subject to withdrawal charges and if taken prior to age 59 1/2, a 10% federal tax penalty may apply. An investment in a variable annuity involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested.
Investments in stocks and bonds are subject to risks, including stock market and interest rate fluctuations. Investments in growth stocks as well as small and mid-cap company stocks may be subject to volatile price swings and therefore present a greater potential for loss than other investments. Investments in non-U.S. stocks and bonds are subject to additional risks such as fluctuations in foreign currencies, political and economic instability, differences in securities regulation and accounting standards, foreign tax laws, and limited availability of public information. Income seeking investment strategies may not be realized due to changes in dividend policies or the availability of capital resources.
Investments that concentrate on one economic sector or geographic region are generally subject to greater volatility than more diverse investments. Investments in real estate investment trusts (REITs) involve risks such as refinancing, economic conditions in the real estate industry, changes in property values, dependency on real estate management, and other risks associated with a concentration in one sector or geographic region. Investments in securities related to gold and other precious metals and minerals are speculative and impacted by a host of worldwide economic, financial and political factors.
Investments in debt securities are subject to credit risk (i.e., the risk that an issuer might not pay interest when due or repay principal at maturity of the obligation). Investments in lower-rated bonds and “junk bonds” are considered speculative due to the heightened risk of default and are subject to unpredictable losses as a result of changes in the issuer’s creditworthiness.
See reverse side for additional information.
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Investments in derivatives are subject to heightened risk; gains or losses from non-hedging positions may be substantially greater than the cost of the position. Active trading may result in high portfolio turnover and correspondingly greater transaction costs for the portfolio and underlying portfolios.
There can be no assurance that the Portfolios will meet their investment objectives. A full description of the investment goals, principal strategies, and risks for each Portfolio are provided in the prospectus. Investments are not guaranteed or endorsed by any bank, is not a deposit or obligation of any bank, and is not federally insured by Federal Deposit Corporation (FDIC), the Federal Reserve Board or any other federal government agency.
• Not FDIC or NCUA/NCUSIF Insured
• May Lose Value No Bank of Credit Union Guarantee
• Not a Deposit Not insured by any Federal Government Agency
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ANCHOR SERIES TRUST
June 30, 2013 |
(unaudited)
Disclosure of Portfolio Expenses in Shareholder Reports
As a shareholder of a Portfolio in the Anchor Series Trust (the “Trust”), you incur ongoing costs, including management fees and/or service (12b-1) fees; and other Portfolio expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Portfolios and to compare these costs with the ongoing costs of investing in other mutual funds. The Example is based on an investment of $1,000 invested at January 1, 2013 and held until June 30, 2013. Shares of the Trust are not offered directly to the public. Instead, shares are currently issued and redeemed only in connection with investments in and payments under variable annuity contracts and variable life insurance policies (“Variable Contracts”) offered by life insurance companies affiliated with SunAmerica Asset Management Corp., the Trust’s investment adviser and manager, as well as non-affiliated life insurance companies. The fees and expenses associated with the Variable Contracts are not included in these Examples, and had such fees and expenses been included, your costs would have been higher. Please see your variable contract prospectus for more details on the fees associated with the Variable Contract.
Actual Expenses
The “Actual” section of the table provides information about your actual account values and actual expenses. You may use the information in these columns, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the column under the heading entitled “Expenses Paid During the Period Ended June 30, 2013” to estimate the expenses you paid on your account during this period. The “Expenses Paid During the Period Ended June 30, 2013” column and the “Expense Ratio as of June 30, 2013” column do not include fees and expenses that may be charged by the Variable Contracts, in which the Portfolios are offered. Had these fees and expenses been included, the “Expenses Paid During the Period Ended June 30, 2013” would have been higher and the “Ending Account Value” would have been lower.
Hypothetical Example for Comparison Purposes
The “Hypothetical” section of the table provides information about hypothetical account values and hypothetical expenses based on the Portfolio’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolios and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds. The “Expenses Paid During the Period Ended June 30, 2013” column and the “Expense Ratio as of June 30, 2013” column do not include fees and expenses that may be charged by the Variable Contracts, in which the Portfolios are offered. Had these fees and expenses been included, the “Expenses Paid During the Period Ended June 30, 2013” would have been higher and the “Ending Account Value” would have been lower.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the Variable Contracts. Please refer to your variable contract prospectus for more information. Therefore, the “Hypothetical” example is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these fees and expenses were included, your costs would have been higher.
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ANCHOR SERIES TRUST
EXPENSE EXAMPLE (continued) June 30, 2013 |
(unaudited)
Actual | Hypothetical | |||||||||||||||||||||||||||
Portfolio | Beginning Account Value at January 1, 2013 | Ending Account Value Using Actual Return at June 30, 2013 | Expenses Paid During the Six Months Ended June 30, 2013* | Beginning Account Value at January 1, 2013 | Ending Account Value Using a Hypothetical 5% Assumed Return at June 30, 2013 | Expenses Paid During the Six Months Ended June 30, 2013* | Expense Ratio as of June 30, 2013* | |||||||||||||||||||||
Government and Quality Bond Portfolio | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 978.82 | $ | 2.94 | $ | 1,000.00 | $ | 1,021.82 | $ | 3.01 | 0.60 | % | ||||||||||||||
Class 2 | $ | 1,000.00 | $ | 978.81 | $ | 3.68 | $ | 1,000.00 | $ | 1,021.08 | $ | 3.76 | 0.75 | % | ||||||||||||||
Class 3 | $ | 1,000.00 | $ | 978.09 | $ | 4.17 | $ | 1,000.00 | $ | 1,020.58 | $ | 4.26 | 0.85 | % | ||||||||||||||
Asset Allocation Portfolio | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 1,065.44 | $ | 4.10 | $ | 1,000.00 | $ | 1,020.83 | $ | 4.01 | 0.80 | % | ||||||||||||||
Class 2 | $ | 1,000.00 | $ | 1,065.16 | $ | 4.86 | $ | 1,000.00 | $ | 1,020.08 | $ | 4.76 | 0.95 | % | ||||||||||||||
Class 3 | $ | 1,000.00 | $ | 1,063.92 | $ | 5.37 | $ | 1,000.00 | $ | 1,019.59 | $ | 5.26 | 1.05 | % | ||||||||||||||
Growth and Income Portfolio | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 1,117.85 | $ | 4.94 | $ | 1,000.00 | $ | 1,020.13 | $ | 4.71 | 0.94 | % | ||||||||||||||
Growth Portfolio | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 1,128.43 | $ | 4.12 | $ | 1,000.00 | $ | 1,020.93 | $ | 3.91 | 0.78 | % | ||||||||||||||
Class 2 | $ | 1,000.00 | $ | 1,127.51 | $ | 4.91 | $ | 1,000.00 | $ | 1,020.18 | $ | 4.66 | 0.93 | % | ||||||||||||||
Class 3 | $ | 1,000.00 | $ | 1,127.29 | $ | 5.43 | $ | 1,000.00 | $ | 1,019.69 | $ | 5.16 | 1.03 | % | ||||||||||||||
Capital Appreciation Portfolio | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 1,129.00 | $ | 4.01 | $ | 1,000.00 | $ | 1,021.03 | $ | 3.81 | 0.76 | % | ||||||||||||||
Class 2 | $ | 1,000.00 | $ | 1,128.25 | $ | 4.80 | $ | 1,000.00 | $ | 1,020.28 | $ | 4.56 | 0.91 | % | ||||||||||||||
Class 3 | $ | 1,000.00 | $ | 1,127.74 | $ | 5.33 | $ | 1,000.00 | $ | 1,019.79 | $ | 5.06 | 1.01 | % | ||||||||||||||
Natural Resources Portfolio | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 911.10 | $ | 4.03 | $ | 1,000.00 | $ | 1,020.58 | $ | 4.26 | 0.85 | % | ||||||||||||||
Class 2 | $ | 1,000.00 | $ | 910.34 | $ | 4.74 | $ | 1,000.00 | $ | 1,019.84 | $ | 5.01 | 1.00 | % | ||||||||||||||
Class 3 | $ | 1,000.00 | $ | 910.31 | $ | 5.21 | $ | 1,000.00 | $ | 1,019.34 | $ | 5.51 | 1.10 | % | ||||||||||||||
Multi-Asset Portfolio# | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 1,065.02 | $ | 5.63 | $ | 1,000.00 | $ | 1,019.34 | $ | 5.51 | 1.10 | % | ||||||||||||||
Class 3 | $ | 1,000.00 | $ | 1,063.47 | $ | 6.91 | $ | 1,000.00 | $ | 1,018.10 | $ | 6.76 | 1.35 | % | ||||||||||||||
Strategic Multi-Asset Portfolio | ||||||||||||||||||||||||||||
Class 1 | $ | 1,000.00 | $ | 1,062.20 | $ | 9.20 | $ | 1,000.00 | $ | 1,015.87 | $ | 9.00 | 1.80 | % |
* | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by 181 days in the period divided by 365. These ratios do not reflect fees and expenses associated with the Variable Contracts. If such fees and expenses had been included, the expenses would have been higher. Please refer to your Variable Contract prospectus for details on the expenses that apply to the Variable Contracts of the insurance companies. |
# | During the stated period, the investment adviser either waived a portion of or all fees and assumed a portion of or all expenses for the Portfolios or through recoupment provisions, recovered a portion of or all fees and expenses waived or reimbursed in the previous two fiscal years. As a result, if these fees and expenses had not been waived or assumed, the “Actual/Hypothetical Ending Account Value” would have been lower and the “Actual/Hypothetical Expenses Paid During the Period Ended June 30, 2013” and “Expense Ratios” would have been higher. If these fees and expenses had not been recouped, the “Actual/Hypothetical Ending Account Value” would have been higher and the “Actual/Hypothetical Expenses Paid During the Period Ended June 30, 2013” and the “Expense Ratios” would have been lower. |
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Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
United States Treasury Notes | 34.7 | % | ||
Federal Home Loan Mtg. Corp. | 19.0 | |||
Government National Mtg. Assoc. | 13.0 | |||
Federal National Mtg. Assoc. | 12.2 | |||
Repurchase Agreements | 9.2 | |||
Diversified Financial Services | 5.2 | |||
United States Treasury Bonds | 4.5 | |||
Diversified Banking Institutions | 3.0 | |||
Municipal Bonds | 2.7 | |||
Banks-Commercial | 1.4 | |||
Federal Home Loan Bank | 1.1 | |||
Sovereign Agency | 1.1 | |||
Telephone-Integrated | 1.0 | |||
Schools | 1.0 | |||
Regional Authority | 0.8 | |||
Transport-Services | 0.8 | |||
Oil Companies-Integrated | 0.8 | |||
Medical-Drugs | 0.7 | |||
Banks-Super Regional | 0.5 | |||
Finance-Other Services | 0.5 | |||
Insurance-Life/Health | 0.5 | |||
Diversified Manufacturing Operations | 0.4 | |||
Insurance-Multi-line | 0.4 | |||
Retail-Discount | 0.4 | |||
Multimedia | 0.4 | |||
Electric-Distribution | 0.3 | |||
Auto-Cars/Light Trucks | 0.3 | |||
Special Purpose Entities | 0.3 | |||
Finance-Investment Banker/Broker | 0.3 | |||
Computers | 0.3 | |||
Medical Labs & Testing Services | 0.3 | |||
Computers-Memory Devices | 0.3 | |||
Sovereign | 0.2 | |||
Airlines | 0.2 | |||
Brewery | 0.1 | |||
Electric-Generation | 0.1 | |||
Medical-HMO | 0.1 | |||
Cellular Telecom | 0.1 | |||
E-Commerce/Products | 0.1 | |||
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118.3 | % | |||
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* | Calculated as a percentage of net assets |
Credit Quality †#
Aaa | 83.1 | % | ||
Aa | 5.1 | |||
A | 7.1 | |||
Baa | 1.7 | |||
Not Rated@ | 3.0 | |||
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100.0 | % | |||
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@ | Represents debt issues that either have no rating, or the rating is unavailable from the data source. |
† | Source: Moody's |
# | Calculated as a percentage of total debt issues, excluding short-term securities. |
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Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Principal Amount | Value (Note 2) | ||||||
ASSET BACKED SECURITIES — 4.2% |
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Diversified Financial Services — 4.2% |
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Ally Master Owner Trust | $ | 3,000,000 | $ | 3,021,930 | ||||
Ally Master Owner Trust | 2,995,000 | 2,933,405 | ||||||
Ally Master Owner Trust | 2,500,000 | 2,514,312 | ||||||
AmeriCredit Automobile | 755,000 | 757,522 | ||||||
Bear Stearns Commercial Mtg. | 5,000,000 | 5,213,670 | ||||||
Bear Stearns Commercial Mtg. | 3,870,000 | 4,220,347 | ||||||
Citigroup/Deutsche Bank | 4,700,000 | 5,048,721 | ||||||
Commercial Mtg. Pass Through Certs. | 1,020,000 | 975,294 | ||||||
Commercial Mtg. Pass Through | 4,500,000 | 4,946,265 | ||||||
DBUBS Mtg. Trust | 3,033,867 | 3,205,930 | ||||||
Ford Credit Floorplan Master | 1,440,000 | 1,442,627 | ||||||
Ford Credit Floorplan Master | 2,470,000 | 2,510,814 | ||||||
HLSS Servicer Advance Receivables Backed Notes | 415,000 | 409,564 | ||||||
HLSS Servicer Advance Receivables Backed Notes | 615,000 | 599,256 | ||||||
Merrill Lynch Mtg. Trust VRS | 4,700,000 | 5,036,459 | ||||||
Santander Drive Auto Receivables Trust | 2,505,000 | 2,518,652 | ||||||
Springleaf Mtg. Loan Trust | 445,000 | 445,768 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Diversified Financial Services (continued) |
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Wachovia Bank Commercial Mtg. | $ | 4,650,000 | $ | 4,966,419 | ||||
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Total Asset Backed Securities | 50,766,955 | |||||||
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U.S. CORPORATE BONDS & NOTES — 11.9% |
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Airlines — 0.2% | ||||||||
Southwest Airlines Co. | 2,211,666 | 2,609,766 | ||||||
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Auto-Cars/Light Trucks — 0.3% |
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Daimler Finance North America LLC | 4,000,000 | 4,013,920 | ||||||
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Banks-Super Regional — 0.5% |
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US Bancorp | 400,000 | 516,145 | ||||||
Wachovia Corp. | 5,000,000 | 5,675,520 | ||||||
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6,191,665 | ||||||||
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Brewery — 0.1% |
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Anheuser-Busch InBev Worldwide, Inc. | 1,640,000 | 1,531,101 | ||||||
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Cable/Satellite TV — 0.0% |
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Comcast Corp. | 200,000 | 191,362 | ||||||
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Computers — 0.3% |
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Apple, Inc. | 2,465,000 | 2,286,199 | ||||||
Apple, Inc. | 895,000 | 794,967 | ||||||
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3,081,166 | ||||||||
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Computers-Memory Devices — 0.3% |
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EMC Corp. | 1,000,000 | 988,503 | ||||||
EMC Corp. | 1,000,000 | 985,779 | ||||||
EMC Corp. | 1,000,000 | 981,513 | ||||||
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2,955,795 | ||||||||
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Diversified Banking Institutions — 2.7% |
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Bank of America Corp. | 1,400,000 | 1,575,680 | ||||||
Bank of America Corp. | 4,000,000 | 4,807,100 |
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Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. CORPORATE BONDS & NOTES (continued) |
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Diversified Banking Institutions (continued) |
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Citigroup, Inc. | $ | 5,335,000 | $ | 6,063,489 | ||||
Citigroup, Inc. | 3,000,000 | 3,434,214 | ||||||
Citigroup, Inc. | 260,000 | 343,392 | ||||||
Goldman Sachs Group, Inc. | 4,000,000 | 4,507,360 | ||||||
JPMorgan Chase & Co. | 2,400,000 | 2,492,741 | ||||||
JPMorgan Chase & Co. | 2,000,000 | 2,183,892 | ||||||
JPMorgan Chase & Co. | 1,080,000 | 1,142,360 | ||||||
Morgan Stanley | 5,300,000 | 5,727,965 | ||||||
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32,278,193 | ||||||||
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Diversified Financial Services — 1.0% |
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General Electric Capital Corp. | 6,000,000 | 6,351,720 | ||||||
General Electric Capital Corp. | 5,000,000 | 5,995,125 | ||||||
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12,346,845 | ||||||||
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E-Commerce/Products — 0.1% |
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eBay, Inc. | 1,105,000 | 1,029,500 | ||||||
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Finance-Other Services — 0.5% |
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Private Export Funding Corp. | 5,960,000 | 6,166,299 | ||||||
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Insurance-Life/Health — 0.5% |
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John Hancock Life Insurance Co. | 5,000,000 | 6,070,960 | ||||||
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Insurance-Multi-line — 0.4% |
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MetLife, Inc. | 3,030,000 | 3,250,499 | ||||||
Metropolitan Life Global Funding I | 2,100,000 | 2,132,735 | ||||||
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5,383,234 | ||||||||
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Medical Labs & Testing Services — 0.3% |
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Roche Holdings, Inc. | 2,500,000 | 2,984,958 | ||||||
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Security Description | Principal Amount | Value (Note 2) | ||||||
Medical-Drugs — 0.5% |
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Merck & Co., Inc. | $ | 1,880,000 | $ | 1,778,698 | ||||
Merck & Co., Inc. | 760,000 | 724,057 | ||||||
Pfizer, Inc. | 2,500,000 | 3,014,613 | ||||||
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5,517,368 | ||||||||
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Medical-HMO — 0.1% |
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Kaiser Foundation Hospitals | 386,000 | 381,734 | ||||||
Kaiser Foundation Hospitals | 730,000 | 725,251 | ||||||
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1,106,985 | ||||||||
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Medical-Wholesale Drug Distribution — 0.0% |
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McKesson Corp. | 135,000 | 127,104 | ||||||
|
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Multimedia — 0.4% |
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NBCUniversal Enterprise, Inc. | 1,605,000 | 1,562,209 | ||||||
NBCUniversal Enterprise, Inc. | 2,865,000 | 2,788,381 | ||||||
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4,350,590 | ||||||||
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Oil Companies-Integrated — 0.2% |
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Chevron Corp. | 2,640,000 | 2,627,199 | ||||||
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Retail-Discount — 0.4% |
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Wal-Mart Stores, Inc. | 5,000,000 | 5,281,185 | ||||||
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Schools — 1.0% |
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President and Fellows of Harvard College | 5,000,000 | 5,620,765 | ||||||
Stanford University | 5,000,000 | 6,527,700 | ||||||
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12,148,465 | ||||||||
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Special Purpose Entity — 0.3% |
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Postal Square LP | 2,943,250 | 3,887,121 | ||||||
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Telecom Services — 0.0% |
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BellSouth Telecommunications, Inc. | 430,000 | 468,815 | ||||||
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Table of Contents
Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. CORPORATE BONDS & NOTES (continued) |
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Telephone-Integrated — 1.0% |
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AT&T, Inc. | $ | 3,040,000 | $ | 3,463,539 | ||||
AT&T, Inc. | 950,000 | 1,118,223 | ||||||
BellSouth Corp. | 4,865,000 | 5,312,084 | ||||||
Verizon Communications, Inc. | 1,830,000 | 1,838,065 | ||||||
Verizon Communications, Inc. | 660,000 | 627,716 | ||||||
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12,359,627 | ||||||||
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Transport-Services — 0.8% |
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Federal Express Corp. | 2,760,682 | 3,312,818 | ||||||
United Parcel Service of America, Inc. | 5,000,000 | 6,587,205 | ||||||
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9,900,023 | ||||||||
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Total U.S. Corporate Bonds & Notes |
| 144,609,246 | ||||||
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FOREIGN CORPORATE BONDS & NOTES — 3.4% |
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Banks-Commercial — 1.4% |
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Credit Suisse New York | 2,435,000 | 2,540,275 | ||||||
ING Bank NV | 5,300,000 | 5,547,192 | ||||||
Nordea Bank AB | 1,645,000 | 1,705,700 | ||||||
Rabobank Nederland NV | 3,500,000 | 3,629,094 | ||||||
Svenska Handelsbanken AB | 3,000,000 | 3,376,953 | ||||||
|
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16,799,214 | ||||||||
|
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Cellular Telecom — 0.1% |
| |||||||
America Movil SAB de CV | 635,000 | 585,086 | ||||||
America Movil SAB de CV | 530,000 | 451,693 | ||||||
|
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1,036,779 | ||||||||
|
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Diversified Banking Institutions — 0.3% |
| |||||||
HSBC Holdings PLC | 1,160,000 | 1,187,635 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Diversified Banking Institutions (continued) |
| |||||||
HSBC Holdings PLC | $ | 2,415,000 | $ | 2,809,449 | ||||
|
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3,997,084 | ||||||||
|
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Diversified Manufacturing Operations — 0.4% |
| |||||||
Siemens Financieringsmaatschappij NV | 4,725,000 | 5,398,360 | ||||||
|
| |||||||
Electric-Generation — 0.1% |
| |||||||
Abu Dhabi National Energy Co. | 1,385,000 | 1,529,788 | ||||||
|
| |||||||
Finance-Investment Banker/Broker — 0.3% |
| |||||||
CDP Financial, Inc. | 2,900,000 | 3,190,792 | ||||||
|
| |||||||
Medical-Drugs — 0.2% |
| |||||||
GlaxoSmithKline Capital PLC | 2,560,000 | 2,542,635 | ||||||
|
| |||||||
Oil Companies-Integrated — 0.6% |
| |||||||
BP Capital Markets PLC | 1,100,000 | 1,196,901 | ||||||
Shell International Finance BV | 3,000,000 | 3,144,066 | ||||||
Shell International Finance BV | 2,625,000 | 2,917,953 | ||||||
|
| |||||||
7,258,920 | ||||||||
|
| |||||||
Total Foreign Corporate Bonds & Notes (cost $38,786,679) | 41,753,572 | |||||||
|
| |||||||
FOREIGN GOVERNMENT AGENCIES — 0.5% |
| |||||||
Electric-Distribution — 0.3% | ||||||||
Hydro-Quebec | 3,000,000 | 4,076,754 | ||||||
|
| |||||||
Sovereign — 0.2% | ||||||||
AID-Egypt | 2,500,000 | 2,713,350 | ||||||
|
| |||||||
Total Foreign Government Agencies | 6,790,104 | |||||||
|
| |||||||
MUNICIPAL BONDS & NOTES — 2.7% |
| |||||||
Atlanta Downtown Development | 4,535,000 | 5,400,096 | ||||||
Bay Area Toll Authority | 2,400,000 | 2,785,824 | ||||||
Curators of the University of Missouri | 2,170,000 | 2,463,080 |
| ||
8 |
Table of Contents
Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
MUNICIPAL BONDS & NOTES (continued) |
| |||||||
Irvine Ranch, California Water District | $ | 2,500,000 | $ | 2,535,825 | ||||
Maryland State Transportation Authority | 1,245,000 | 1,378,937 | ||||||
North Texas Tollway Authority | 3,450,000 | 4,064,928 | ||||||
Oregon School Boards Association | 2,800,000 | 3,067,904 | ||||||
San Antonio, Texas Electric & Gas | 885,000 | 1,052,079 | ||||||
State of California | 915,000 | 1,225,222 | ||||||
State of Wisconsin | 2,500,000 | 2,913,500 | ||||||
University of California | 2,955,000 | 3,253,544 | ||||||
University of California Regents | 1,710,000 | 2,027,923 | ||||||
|
| |||||||
Total Municipal Bonds & Notes | 32,168,862 | |||||||
|
| |||||||
U.S. GOVERNMENT AGENCIES — 47.2% |
| |||||||
Federal Home Loan Bank — 1.1% |
| |||||||
5.13% due 08/14/2013 | 13,000,000 | 13,077,987 | ||||||
|
| |||||||
Federal Home Loan Mtg. Corp. — 19.0% |
| |||||||
2.50% due July TBA | 6,000,000 | 6,030,000 | ||||||
3.00% due July TBA | 38,600,000 | 37,986,535 | ||||||
3.50% due July TBA | 38,300,000 | 38,866,656 | ||||||
4.00% due 09/01/2026 | 2,708,009 | 2,844,951 | ||||||
4.00% due 12/01/2040 | 12,888,121 | 13,410,075 | ||||||
4.50% due 02/01/2039 | 10,313,105 | 10,911,414 | ||||||
4.50% due 03/01/2039 | 2,396,801 | 2,523,544 | ||||||
4.50% due July TBA | 2,100,000 | 2,211,234 | ||||||
5.00% due 12/01/2026 | 378,757 | 406,829 | ||||||
5.00% due 02/01/2028 | 178,982 | 191,003 | ||||||
5.00% due 01/01/2030 | 37,569 | 40,325 | ||||||
5.00% due 02/01/2030 | 10,075,325 | 10,755,771 | ||||||
5.00% due 06/01/2033 | 40,032 | 42,981 | ||||||
5.00% due 11/01/2033 | 1,211,875 | 1,301,629 | ||||||
5.00% due 06/01/2034 | 40,836 | 43,765 | ||||||
5.00% due 11/01/2034 | 54,032 | 57,818 | ||||||
5.00% due 07/01/2035 | 577,847 | 624,037 | ||||||
5.00% due 11/01/2035 | 25,618 | 28,375 | ||||||
5.00% due 12/01/2035 | 105,946 | 113,296 | ||||||
5.00% due 06/01/2036 | 446,716 | 477,707 | ||||||
5.00% due 07/01/2036 | 53,394 | 56,925 | ||||||
5.00% due 01/01/2037 | 445,918 | 476,854 | ||||||
5.00% due 03/01/2037 | 459,311 | 489,680 | ||||||
5.00% due 06/01/2037 | 37,956 | 40,466 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Federal Home Loan Mtg. Corp. (continued) |
| |||||||
5.00% due 07/01/2037 | $ | 66,827 | $ | 71,245 | ||||
5.00% due 01/01/2038 | 789,502 | 841,702 | ||||||
5.00% due 02/01/2038 | 1,915,969 | 2,048,890 | ||||||
5.00% due 03/01/2038 | 38,433,053 | 41,044,790 | ||||||
5.00% due 05/01/2038 | 97,174 | 103,600 | ||||||
5.00% due 09/01/2038 | 2,913 | 3,106 | ||||||
5.00% due 02/01/2039 | 18,852 | 20,099 | ||||||
5.00% due 10/01/2039 | 32,063 | 34,222 | ||||||
5.00% due 02/01/2040 | 108,700 | 116,023 | ||||||
5.00% due 04/01/2040 | 550,669 | 589,476 | ||||||
5.00% due 06/01/2040 | 2,909,915 | 3,133,646 | ||||||
5.00% due 07/01/2040 | 22,195 | 23,902 | ||||||
5.00% due 08/01/2040 | 3,824,241 | 4,117,568 | ||||||
5.00% due 04/01/2041 | 29,156 | 31,439 | ||||||
5.00% due 05/01/2041 | 2,654,496 | 2,862,375 | ||||||
5.00% due 06/01/2041 | 474,379 | 508,740 | ||||||
5.00% due 07/01/2041 | 11,475,602 | 12,472,716 | ||||||
5.50% due 03/01/2023 | 44,243 | 47,595 | ||||||
5.50% due 03/01/2027 | 129,715 | 140,055 | ||||||
5.50% due 04/01/2027 | 91,891 | 99,326 | ||||||
5.50% due 05/01/2027 | 667,030 | 719,794 | ||||||
5.50% due 11/01/2027 | 192,602 | 207,364 | ||||||
5.50% due 06/01/2028 | 125,762 | 135,756 | ||||||
5.50% due 02/01/2034 | 333,980 | 362,496 | ||||||
5.50% due 06/01/2035 | 28,744 | 31,058 | ||||||
5.50% due 12/01/2035 | 236,798 | 255,862 | ||||||
5.50% due 10/01/2036 | 137,084 | 147,654 | ||||||
5.50% due 12/01/2036 | 6,914 | 7,447 | ||||||
5.50% due 12/01/2037 | 254,126 | 273,008 | ||||||
5.50% due 01/01/2038 | 4,917,303 | 5,282,669 | ||||||
5.50% due 03/01/2038 | 785,028 | 845,563 | ||||||
5.50% due 05/01/2038 | 271,336 | 291,726 | ||||||
5.50% due 12/01/2039 | 1,266,963 | 1,361,101 | ||||||
5.50% due 01/01/2040 | 693,072 | 744,569 | ||||||
5.50% due 05/01/2040 | 199,171 | 213,970 | ||||||
5.50% due 08/01/2040 | 19,780,405 | 21,250,129 | ||||||
6.00% due 12/01/2039 | 367,083 | 398,359 | ||||||
7.50% due 05/01/2027 | 2,792 | 3,293 | ||||||
|
| |||||||
230,774,203 | ||||||||
|
| |||||||
Federal National Mtg. Assoc. — 12.2% |
| |||||||
2.50% due July TBA | 10,700,000 | 10,761,859 | ||||||
3.00% due 05/01/2027 | 1,371,393 | 1,412,465 | ||||||
3.00% due 06/01/2027 | 746,337 | 769,196 | ||||||
3.00% due 08/01/2027 | 549,023 | 565,842 | ||||||
3.00% due July TBA | 20,400,000 | 20,673,938 | ||||||
3.50% due July TBA | 9,250,000 | 9,532,789 | ||||||
3.88% due 07/12/2013 | 6,800,000 | 6,807,861 | ||||||
4.00% due 09/01/2026 | 14,467,051 | 15,260,154 | ||||||
4.00% due July TBA | 10,200,000 | 10,533,938 | ||||||
4.50% due 11/01/2026 | 2,414,518 | 2,568,864 | ||||||
4.50% due 01/01/2027 | 3,713,631 | 3,937,492 | ||||||
4.50% due 10/01/2031 | 12,445,020 | 13,320,015 | ||||||
4.50% due July TBA | 15,700,000 | 16,612,563 | ||||||
5.00% due July TBA | 9,200,000 | 9,900,782 | ||||||
5.50% due 03/01/2038 | 4,064,666 | 4,408,373 | ||||||
5.50% due 06/01/2038 | 163,655 | 177,493 | ||||||
5.50% due 08/01/2038 | 150,544 | 163,274 | ||||||
5.50% due 09/01/2039 | 94,294 | 102,655 | ||||||
5.50% due 05/01/2040 | 32,673 | 35,933 | ||||||
5.50% due 06/01/2040 | 28,055 | 30,507 | ||||||
5.50% due July TBA | 17,650,000 | 19,169,556 | ||||||
6.50% due 02/01/2038 | 321,907 | 354,306 | ||||||
6.50% due 10/01/2039 | 401,373 | 444,495 | ||||||
|
| |||||||
147,544,350 | ||||||||
|
|
| ||
9 |
Table of Contents
Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. GOVERNMENT AGENCIES (continued) |
| |||||||
Government National Mtg. Assoc. — 13.0% |
| |||||||
3.00% due July TBA | $ | 10,400,000 | $ | 10,281,376 | ||||
3.50% due July TBA | 19,300,000 | 19,797,577 | ||||||
4.00% due 06/15/2039 | 1,240,919 | 1,304,807 | ||||||
4.00% due 07/15/2039 | 491,051 | 516,332 | ||||||
4.00% due 08/15/2039 | 1,786,853 | 1,878,848 | ||||||
4.00% due 09/15/2039 | 3,946,279 | 4,149,451 | ||||||
4.00% due 12/15/2039 | 3,046,375 | 3,203,216 | ||||||
4.00% due 01/15/2040 | 3,691,896 | 3,901,633 | ||||||
4.00% due 03/15/2040 | 785,022 | 826,324 | ||||||
4.00% due 06/15/2040 | 445,461 | 470,768 | ||||||
4.00% due 07/15/2040 | 724,542 | 765,704 | ||||||
4.00% due 08/15/2040 | 9,245,251 | 9,770,475 | ||||||
4.00% due 10/15/2040 | 699,613 | 739,358 | ||||||
4.00% due 02/15/2041 | 1,881,050 | 1,997,585 | ||||||
4.00% due 07/15/2041 | 468,434 | 491,876 | ||||||
4.00% due 08/15/2041 | 473,630 | 497,333 | ||||||
4.00% due 09/15/2041 | 10,256,895 | 10,770,212 | ||||||
4.00% due 10/15/2041 | 1,047,739 | 1,100,173 | ||||||
4.00% due 11/15/2041 | 2,773,097 | 2,911,880 | ||||||
4.00% due 01/15/2042 | 1,584,623 | 1,665,143 | ||||||
4.00% due 02/15/2042 | 2,349,769 | 2,468,881 | ||||||
4.00% due 08/15/2042 | 173,402 | 183,883 | ||||||
4.00% due 04/15/2043 | 80,920 | 85,031 | ||||||
4.50% due 05/15/2040 | 2,449,647 | 2,620,357 | ||||||
4.50% due 06/15/2040 | 3,740,341 | 3,999,610 | ||||||
4.50% due 07/15/2040 | 4,886,115 | 5,216,887 | ||||||
4.50% due 09/20/2041 | 13,489,414 | 14,538,108 | ||||||
4.50% due 05/15/2042 | 522,782 | 555,375 | ||||||
5.00% due 07/15/2033 | 3,219,094 | 3,506,340 | ||||||
5.00% due 10/15/2033 | 242,257 | 264,479 | ||||||
5.00% due 11/15/2033 | 154,928 | 168,753 | ||||||
5.00% due 12/15/2033 | 60,978 | 66,853 | ||||||
5.00% due 01/15/2034 | 302,129 | 332,352 | ||||||
5.00% due 02/15/2034 | 150,127 | 163,415 | ||||||
5.00% due 03/15/2034 | 11,436 | 12,601 | ||||||
5.00% due 05/15/2034 | 18,678 | 20,813 | ||||||
5.00% due 09/15/2035 | 229,088 | 254,219 | ||||||
5.00% due 11/15/2035 | 23,985 | 26,303 | ||||||
5.00% due 12/15/2035 | 52,001 | 56,407 | ||||||
5.00% due 02/15/2036 | 39,772 | 43,017 | ||||||
5.00% due 03/15/2036 | 34,616 | 37,789 | ||||||
5.00% due 05/15/2036 | 22,002 | 23,917 | ||||||
5.00% due 09/15/2036 | 10,897 | 11,786 | ||||||
5.00% due 10/15/2037 | 16,043 | 17,323 | ||||||
5.00% due 04/15/2038 | 4,617 | 4,984 | ||||||
5.00% due 05/15/2038 | 27,694 | 30,255 | ||||||
5.00% due 06/15/2038 | 14,341 | 15,480 | ||||||
5.00% due 07/15/2038 | 582,599 | 628,873 | ||||||
5.00% due 08/15/2038 | 669,363 | 727,831 | ||||||
5.00% due 09/15/2038 | 1,252,590 | 1,354,450 | ||||||
5.00% due 06/15/2039 | 2,250,190 | 2,436,885 | ||||||
5.00% due 08/15/2039 | 231,104 | 250,278 | ||||||
5.00% due 09/15/2039 | 176,351 | 190,982 | ||||||
5.00% due 10/15/2039 | 63,360 | 68,617 | ||||||
5.00% due 04/15/2040 | 74,722 | 81,487 | ||||||
5.00% due 04/15/2041 | 951,986 | 1,030,921 | ||||||
5.00% due July TBA | 1,700,000 | 1,833,344 | ||||||
5.50% due 10/15/2032 | 8,906 | 9,796 | ||||||
5.50% due 11/15/2032 | 4,104 | 4,484 | ||||||
5.50% due 02/15/2033 | 193,988 | 214,200 | ||||||
5.50% due 03/15/2033 | 45,454 | 49,697 | ||||||
5.50% due 05/15/2033 | 151,705 | 167,018 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Government National Mtg. Assoc. (continued) |
| |||||||
5.50% due 06/15/2033 | $ | 184,459 | $ | 202,929 | ||||
5.50% due 07/15/2033 | 26,742 | 29,442 | ||||||
5.50% due 08/15/2033 | 32,455 | 35,731 | ||||||
5.50% due 09/15/2033 | 14,043 | 15,460 | ||||||
5.50% due 11/15/2033 | 400,789 | 441,196 | ||||||
5.50% due 01/15/2034 | 426,729 | 468,005 | ||||||
5.50% due 02/15/2034 | 147,286 | 161,543 | ||||||
5.50% due 03/15/2034 | 1,864,125 | 2,044,431 | ||||||
5.50% due 04/15/2034 | 60,832 | 67,432 | ||||||
5.50% due 05/15/2034 | 95,173 | 106,985 | ||||||
5.50% due 06/15/2034 | 41,738 | 45,775 | ||||||
5.50% due 07/15/2034 | 63,138 | 69,246 | ||||||
5.50% due 08/15/2034 | 53,314 | 58,493 | ||||||
5.50% due 09/15/2034 | 628,771 | 690,706 | ||||||
5.50% due 10/15/2034 | 389,663 | 427,064 | ||||||
5.50% due 04/15/2036 | 61,625 | 69,119 | ||||||
6.00% due 03/15/2028 | 9,284 | 10,458 | ||||||
6.00% due 06/15/2028 | 17,554 | 19,608 | ||||||
6.00% due 08/15/2028 | 57,677 | 64,435 | ||||||
6.00% due 09/15/2028 | 40,451 | 45,567 | ||||||
6.00% due 10/15/2028 | 14,301 | 16,110 | ||||||
6.00% due 11/15/2028 | 13,360 | 14,896 | ||||||
6.00% due 12/15/2028 | 103,447 | 115,330 | ||||||
6.00% due 03/15/2029 | 1,575 | 1,756 | ||||||
6.00% due 04/15/2029 | 4,510 | 5,016 | ||||||
6.00% due 01/15/2032 | 20,254 | 22,720 | ||||||
6.00% due 02/15/2032 | 659 | 736 | ||||||
6.00% due 07/15/2032 | 13,109 | 14,779 | ||||||
6.00% due 09/15/2032 | 21,764 | 24,459 | ||||||
6.00% due 10/15/2032 | 327,180 | 366,154 | ||||||
6.00% due 11/15/2032 | 29,059 | 32,663 | ||||||
6.00% due 01/15/2033 | 4,332 | 4,872 | ||||||
6.00% due 02/15/2033 | 39,905 | 44,694 | ||||||
6.00% due 03/15/2033 | 65,938 | 74,115 | ||||||
6.00% due 04/15/2033 | 102,372 | 114,819 | ||||||
6.00% due 05/15/2033 | 136,535 | 153,435 | ||||||
6.00% due 12/15/2033 | 53,139 | 59,703 | ||||||
6.00% due 08/15/2034 | 8,738 | 9,749 | ||||||
6.00% due 09/15/2034 | 115,580 | 129,430 | ||||||
6.00% due 10/15/2034 | 111,093 | 124,086 | ||||||
6.00% due July TBA | 23,000,000 | 25,516,524 | ||||||
6.50% due 01/15/2014 | 3,695 | 3,808 | ||||||
6.50% due 02/15/2014 | 154 | 159 | ||||||
6.50% due 03/15/2014 | 8,271 | 8,526 | ||||||
6.50% due 05/15/2014 | 9,182 | 9,464 | ||||||
6.50% due 06/15/2014 | 427 | 438 | ||||||
6.50% due 07/15/2014 | 408 | 420 | ||||||
6.50% due 08/15/2014 | 82 | 85 | ||||||
6.50% due 05/15/2023 | 7,598 | 8,605 | ||||||
6.50% due 06/15/2023 | 8,238 | 9,330 | ||||||
6.50% due 07/15/2023 | 48,721 | 55,176 | ||||||
6.50% due 08/15/2023 | 6,676 | 7,561 | ||||||
6.50% due 10/15/2023 | 26,152 | 29,618 | ||||||
6.50% due 11/15/2023 | 39,989 | 44,623 | ||||||
6.50% due 12/15/2023 | 116,809 | 128,491 | ||||||
6.50% due 03/15/2026 | 10,037 | 10,263 | ||||||
6.50% due 02/15/2027 | 3,217 | 3,459 | ||||||
6.50% due 12/15/2027 | 3,179 | 3,649 | ||||||
6.50% due 01/15/2028 | 29,157 | 31,468 | ||||||
6.50% due 02/15/2028 | 13,869 | 15,719 | ||||||
6.50% due 03/15/2028 | 63,895 | 71,353 | ||||||
6.50% due 04/15/2028 | 28,455 | 31,946 | ||||||
6.50% due 05/15/2028 | 95,037 | 104,263 |
| ||
10 |
Table of Contents
Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. GOVERNMENT AGENCIES (continued) |
| |||||||
Government National Mtg. Assoc. (continued) |
| |||||||
6.50% due 06/15/2028 | $ | 147,184 | $ | 167,847 | ||||
6.50% due 07/15/2028 | 148,970 | 167,582 | ||||||
6.50% due 08/15/2028 | 85,432 | 96,864 | ||||||
6.50% due 09/15/2028 | 113,650 | 129,043 | ||||||
6.50% due 10/15/2028 | 144,853 | 158,799 | ||||||
6.50% due 11/15/2028 | 106,013 | 121,084 | ||||||
6.50% due 12/15/2028 | 117,447 | 132,449 | ||||||
6.50% due 01/15/2029 | 3,803 | 4,228 | ||||||
6.50% due 02/15/2029 | 28,690 | 32,440 | ||||||
6.50% due 03/15/2029 | 33,214 | 37,710 | ||||||
6.50% due 04/15/2029 | 23,384 | 26,348 | ||||||
6.50% due 05/15/2029 | 101,161 | 111,161 | ||||||
6.50% due 06/15/2029 | 27,608 | 31,800 | ||||||
6.50% due 03/15/2031 | 6,762 | 7,664 | ||||||
6.50% due 04/15/2031 | 1,714 | 1,921 | ||||||
6.50% due 05/15/2031 | 126,179 | 143,471 | ||||||
6.50% due 06/15/2031 | 74,651 | 85,054 | ||||||
6.50% due 07/15/2031 | 207,292 | 235,575 | ||||||
6.50% due 08/15/2031 | 37,506 | 42,036 | ||||||
6.50% due 09/15/2031 | 172,840 | 197,755 | ||||||
6.50% due 10/15/2031 | 123,991 | 142,711 | ||||||
6.50% due 11/15/2031 | 62,922 | 71,613 | ||||||
6.50% due 01/15/2032 | 251,940 | 284,310 | ||||||
6.50% due 02/15/2032 | 79,947 | 90,243 | ||||||
6.50% due 03/15/2032 | 1,929 | 2,230 | ||||||
6.50% due 04/15/2032 | 48,744 | 56,367 | ||||||
6.50% due 05/15/2032 | 199,815 | 231,127 | ||||||
7.00% due 11/15/2031 | 65,691 | 77,619 | ||||||
7.00% due 03/15/2032 | 40,309 | 46,043 | ||||||
7.00% due 01/15/2033 | 52,292 | 62,712 | ||||||
7.00% due 05/15/2033 | 141,406 | 169,044 | ||||||
7.00% due 07/15/2033 | 109,627 | 129,172 | ||||||
7.00% due 11/15/2033 | 138,697 | 164,234 | ||||||
8.00% due 10/15/2029 | 458 | 465 | ||||||
8.00% due 11/15/2029 | 9,118 | 9,509 | ||||||
8.00% due 12/15/2029 | 11,400 | 12,235 | ||||||
8.00% due 01/15/2030 | 20,303 | 22,116 | ||||||
8.00% due 03/15/2030 | 143 | 145 | ||||||
8.00% due 04/15/2030 | 36,121 | 37,732 | ||||||
8.00% due 06/15/2030 | 1,770 | 1,852 | ||||||
8.00% due 08/15/2030 | 8,404 | 9,304 | ||||||
8.00% due 09/15/2030 | 25,330 | 26,476 | ||||||
8.00% due 11/15/2030 | 4,906 | 5,611 | ||||||
8.00% due 12/15/2030 | 5,214 | 5,786 | ||||||
8.00% due 02/15/2031 | 42,048 | 47,155 | ||||||
8.00% due 03/15/2031 | 13,034 | 13,349 | ||||||
10.00% due 06/20/2014 | 152 | 152 | ||||||
10.00% due 07/20/2014 | 316 | 317 | ||||||
10.00% due 04/20/2016 | 3,116 | 3,358 | ||||||
10.00% due 05/20/2016 | 1,891 | 2,051 | ||||||
10.00% due 08/20/2016 | 1,080 | 1,181 | ||||||
10.00% due 01/20/2017 | 2,802 | 3,073 | ||||||
10.00% due 02/20/2017 | 2,577 | 2,592 | ||||||
10.00% due 03/20/2017 | 3,198 | 3,453 | ||||||
13.50% due 09/20/2014 | 253 | 259 | ||||||
Government National Mtg. Assoc. | 152,211 | 173,715 | ||||||
Series 2005-74, Class HB | 655,355 | 757,696 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Government National Mtg. Assoc. (continued) |
| |||||||
Series 2005-74, Class HC | $ | 240,748 | $ | 280,662 | ||||
|
| |||||||
158,190,747 | ||||||||
|
| |||||||
Regional Authority — 0.8% |
| |||||||
U.S. Department of Housing and Urban Development | 10,000,000 | 10,040,890 | ||||||
|
| |||||||
Sovereign Agency — 1.1% |
| |||||||
Financing Corp. STRIPS | 2,050,000 | 2,044,531 | ||||||
Series 13 | 1,630,000 | 1,625,085 | ||||||
Resolution Funding Corp. STRIPS | 2,500,000 | 2,136,215 | ||||||
Tennessee Valley Authority | 7,400,000 | 7,109,121 | ||||||
|
| |||||||
12,914,952 | ||||||||
|
| |||||||
Total U.S. Government Agencies | 572,543,129 | |||||||
|
| |||||||
U.S. GOVERNMENT TREASURIES — 39.2% |
| |||||||
United States Treasury Bonds — 4.5% |
| |||||||
2.75% due 11/15/2042 | 1,400,000 | 1,207,063 | ||||||
2.88% due 05/15/2043 | 11,300,000 | 10,000,500 | ||||||
3.13% due 02/15/2043 | 45,970,300 | 42,910,425 | ||||||
|
| |||||||
54,117,988 | ||||||||
|
| |||||||
United States Treasury Notes — 34.7% |
| |||||||
0.13% due 12/31/2014 | 13,500,000 | 13,475,740 | ||||||
0.13% due 04/30/2015 | 92,300,000 | 91,950,275 | ||||||
0.25% due 10/31/2014 | 17,660,000 | 17,666,905 | ||||||
0.25% due 11/30/2014 | 32,810,000 | 32,817,678 | ||||||
0.25% due 03/31/2015 | 3,450,000 | 3,446,226 | ||||||
0.63% due 05/31/2017 | 16,000,000 | 15,744,992 | ||||||
0.63% due 08/31/2017 | 4,000,000 | 3,917,812 | ||||||
0.63% due 04/30/2018 | 16,000,000 | 15,462,496 | ||||||
0.75% due 03/31/2018 | 6,300,000 | 6,132,162 | ||||||
1.00% due 09/30/2016 | 6,500,000 | 6,544,181 | ||||||
1.00% due 03/31/2017 | 20,000,000 | 20,018,760 | ||||||
1.00% due 05/31/2018 | 18,000,000 | 17,690,616 | ||||||
1.25% due 10/31/2015 | 21,000,000 | 21,387,198 | ||||||
1.75% due 05/31/2016 | 20,000,000 | 20,628,120 | ||||||
1.75% due 05/15/2023 | 57,950,000 | 54,273,768 | ||||||
2.00% due 02/15/2023 | 6,150,000 | 5,918,895 | ||||||
2.13% due 12/31/2015 | 42,000,000 | 43,683,276 | ||||||
2.38% due 02/28/2015 | 25,000,000 | 25,864,250 | ||||||
3.13% due 04/30/2017 | 4,500,000 | 4,858,947 | ||||||
|
| |||||||
421,482,297 | ||||||||
|
| |||||||
Total U.S. Government Treasuries | 475,600,285 | |||||||
|
| |||||||
Total Long-Term Investment Securities | 1,324,232,153 | |||||||
|
|
| ||
11 |
Table of Contents
Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
REPURCHASE AGREEMENTS — 9.2% |
| |||||||
Bank of America Securities LLC | $ | 1,885,000 | $ | 1,885,000 | ||||
Barclays Capital PLC | 45,090,000 | 45,090,000 | ||||||
BNP Paribas SA | 19,315,000 | 19,315,000 | ||||||
Deutsche Bank AG | 1,980,000 | 1,980,000 | ||||||
Royal Bank of Scotland | 25,755,000 | 25,755,000 | ||||||
UBS Securities LLC | 18,200,000 | 18,200,000 | ||||||
|
| |||||||
Total Repurchase Agreements | 112,225,000 | |||||||
|
| |||||||
TOTAL INVESTMENTS | 118.3 | % | 1,436,457,153 | |||||
Liabilities in excess of other assets | (18.3 | ) | (221,736,977 | ) | ||||
|
|
|
| |||||
NET ASSETS | 100.0 | % | $ | 1,214,720,176 | ||||
|
|
|
| |||||
FORWARD SALES CONTRACTS — (11.1)% |
| |||||||
U.S. Government Agencies — (11.1)% | ||||||||
Federal Home Loan Mtg. Corp. — (8.3)% |
| |||||||
5.00% due July TBA | (64,500,000 | ) | (68,843,675 | ) | ||||
5.50% due July TBA | (29,100,000 | ) | (31,305,233 | ) | ||||
|
| |||||||
(100,148,908 | ) | |||||||
|
| |||||||
Government National Mtg. Assoc. — (2.8)% |
| |||||||
4.00% due July TBA | (32,900,000 | ) | (34,483,313 | ) | ||||
|
| |||||||
Total Forward Sales Contracts | $ | (134,632,221 | ) | |||||
|
|
* | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At June 30, 2013, the aggregate value of these securities was $48,591,560 representing 4.0% of net assets. Unless otherwise indicated these securities are not considered to be illiquid. |
(1) | Commercial Mortgage Backed Security |
(2) | Collateralized Mortgage Obligation |
(3) | See Note 2 for details of Joint Repurchase Agreements. |
(4) | See Note 6 for cost of investments on a tax basis. |
REMIC — Real Estate Mortgage Investment Conduit
STRIPS — Separate trading of registered interest and principal of securities.
TBA — Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal and maturity date will be determined upon settlement date.
VRS — Variable Rate Securities
The rates shown on VRS are the current interest rates at June 30, 2013 and unless noted otherwise, the dates shown are the original maturity date.
| ||
12 |
Table of Contents
Anchor Series Trust Government and Quality Bond Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | ||||||||||||||||
Asset Backed Securities | $ | — | $ | 50,766,955 | $ | — | $ | 50,766,955 | ||||||||
U.S. Corporate Bonds & Notes: | ||||||||||||||||
Transport-Services | — | 6,587,205 | 3,312,818 | 9,900,023 | ||||||||||||
Other Industries* | — | 134,709,223 | — | 134,709,223 | ||||||||||||
Foreign Corporate Bonds & Notes | — | 41,753,572 | — | 41,753,572 | ||||||||||||
Foreign Government Agencies | — | 6,790,104 | — | 6,790,104 | ||||||||||||
Municipal Bonds & Notes | — | 32,168,862 | — | 32,168,862 | ||||||||||||
U.S. Government Agencies: | ||||||||||||||||
Federal Home Loan Mtg. Corp. | — | 230,774,203 | — | 230,774,203 | ||||||||||||
Federal National Mtg. Assoc. | — | 147,544,350 | — | 147,544,350 | ||||||||||||
Government National Mtg. Assoc. | — | 158,190,747 | — | 158,190,747 | ||||||||||||
Other Government Agencies* | — | 36,033,829 | — | 36,033,829 | ||||||||||||
U.S. Government Treasuries: | ||||||||||||||||
United States Treasury Bonds | — | 54,117,988 | — | 54,117,988 | ||||||||||||
United States Treasury Notes | — | 421,482,297 | — | 421,482,297 | ||||||||||||
Repurchase Agreements | — | 112,225,000 | — | 112,225,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | — | $ | 1,433,144,335 | $ | 3,312,818 | $ | 1,436,457,153 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities | ||||||||||||||||
Forward Sales Contracts: | ||||||||||||||||
U.S. Government Agencies: | ||||||||||||||||
Federal Home Loan Mtg. Corp. | $ | — | $ | 100,148,908 | $ | — | $ | 100,148,908 | ||||||||
Government National Mtg. Assoc. | — | 34,483,313 | — | 34,483,313 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | — | $ | 134,632,221 | $ | — | $ | 134,632,221 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries or government agencies each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry or government agency classification, please refer to the Portfolio of Investments. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.
At the beginning and end of the reporting period, Level 3 investments in securities were not considered a material portion of the Portfolio.
See Notes to Financial Statements
| ||
13 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
Diversified Financial Services | 5.2 | % | ||
Federal National Mtg. Assoc. | 4.6 | |||
Real Estate Investment Trusts | 4.0 | |||
Medical-Drugs | 4.0 | |||
Federal Home Loan Mtg. Corp. | 3.8 | |||
Oil Companies-Integrated | 3.6 | |||
Government National Mtg. Assoc. | 2.8 | |||
Repurchase Agreements | 2.6 | |||
Oil Companies-Exploration & Production | 2.5 | |||
Diversified Banking Institutions | 2.4 | |||
Banks-Super Regional | 2.4 | |||
Electric-Integrated | 2.0 | |||
Insurance-Property/Casualty | 1.7 | |||
Banks-Commercial | 1.6 | |||
Insurance-Multi-line | 1.6 | |||
Exchange-Traded Funds | 1.6 | |||
Pipelines | 1.5 | |||
Diversified Manufacturing Operations | 1.5 | |||
Electronic Components-Semiconductors | 1.4 | |||
Aerospace/Defense | 1.4 | |||
Toys | 1.3 | |||
Beverages-Non-alcoholic | 1.2 | |||
Food-Misc./Diversified | 1.2 | |||
Applications Software | 1.1 | |||
Chemicals-Diversified | 1.0 | |||
Auto/Truck Parts & Equipment-Original | 0.9 | |||
Investment Management/Advisor Services | 0.9 | |||
Medical Products | 0.9 | |||
Telephone-Integrated | 0.9 | |||
Computers | 0.9 | |||
Food-Retail | 0.9 | |||
Machinery-Farming | 0.7 | |||
Oil Refining & Marketing | 0.7 | |||
Gas-Distribution | 0.7 | |||
Retail-Restaurants | 0.7 | |||
Multimedia | 0.7 | |||
Distribution/Wholesale | 0.7 | |||
Insurance-Reinsurance | 0.7 | |||
Telecom Services | 0.7 | |||
Medical-Biomedical/Gene | 0.6 | |||
Finance-Investment Banker/Broker | 0.6 | |||
Transport-Services | 0.6 | |||
Semiconductor Components-Integrated Circuits | 0.6 | |||
Transport-Rail | 0.6 | |||
Cruise Lines | 0.6 | |||
United States Treasury Notes | 0.5 | |||
Computer Services | 0.5 | |||
Enterprise Software/Service | 0.5 | |||
Retail-Discount | 0.5 | |||
Medical Instruments | 0.5 | |||
Chemicals-Specialty | 0.5 | |||
Finance-Auto Loans | 0.5 | |||
Auto-Heavy Duty Trucks | 0.5 | |||
Steel-Producers | 0.5 | |||
Medical-Hospitals | 0.4 | |||
Oil-Field Services | 0.4 | |||
Rental Auto/Equipment | 0.4 | |||
Semiconductor Equipment | 0.4 | |||
Consumer Products-Misc. | 0.4 | |||
Medical-Generic Drugs | 0.4 | |||
Web Portals/ISP | 0.4 |
E-Commerce/Products | 0.4 | % | ||
Human Resources | 0.4 | |||
Independent Power Producers | 0.4 | |||
Cellular Telecom | 0.4 | |||
Apparel Manufacturers | 0.4 | |||
MRI/Medical Diagnostic Imaging | 0.4 | |||
Commercial Services | 0.3 | |||
Non-Hazardous Waste Disposal | 0.3 | |||
Diversified Minerals | 0.3 | |||
Retail-Jewelry | 0.3 | |||
Advertising Services | 0.3 | |||
Non-Ferrous Metals | 0.3 | |||
Electronic Components-Misc. | 0.3 | |||
Athletic Footwear | 0.3 | |||
Finance-Other Services | 0.3 | |||
Instruments-Scientific | 0.3 | |||
United States Treasury Bonds | 0.3 | |||
Rubber-Tires | 0.3 | |||
Cable/Satellite TV | 0.3 | |||
Auto-Cars/Light Trucks | 0.3 | |||
Electric-Transmission | 0.3 | |||
Electric Products-Misc. | 0.3 | |||
Oil & Gas Drilling | 0.3 | |||
Medical-Wholesale Drug Distribution | 0.3 | |||
Retail-Major Department Stores | 0.3 | |||
Tobacco | 0.3 | |||
Telecommunication Equipment | 0.3 | |||
Medical-HMO | 0.3 | |||
Cosmetics & Toiletries | 0.3 | |||
Steel-Specialty | 0.3 | |||
Alternative Waste Technology | 0.2 | |||
Savings & Loans/Thrifts | 0.2 | |||
Property Trust | 0.2 | |||
Casino Hotels | 0.2 | |||
Trucking/Leasing | 0.2 | |||
Security Services | 0.2 | |||
Airlines | 0.2 | |||
Engineering/R&D Services | 0.2 | |||
Physical Therapy/Rehabilitation Centers | 0.2 | |||
Brewery | 0.2 | |||
Data Processing/Management | 0.2 | |||
Electronic Forms | 0.2 | |||
Insurance Brokers | 0.2 | |||
Insurance-Life/Health | 0.2 | |||
Telecom Equipment-Fiber Optics | 0.2 | |||
Coatings/Paint | 0.2 | |||
Agricultural Chemicals | 0.2 | |||
Instruments-Controls | 0.2 | |||
Machine Tools & Related Products | 0.2 | |||
Retail-Building Products | 0.2 | |||
Networking Products | 0.2 | |||
Computers-Memory Devices | 0.2 | |||
Fisheries | 0.2 | |||
Electric-Generation | 0.2 | |||
Metal Processors & Fabrication | 0.2 | |||
Medical Labs & Testing Services | 0.2 | |||
Commercial Services-Finance | 0.2 | |||
Machinery-General Industrial | 0.2 | |||
Containers-Paper/Plastic | 0.1 | |||
Satellite Telecom | 0.1 | |||
Office Furnishings-Original | 0.1 |
| ||
14 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited) — (continued)
Electronic Measurement Instruments | 0.1 | % | ||
Casino Services | 0.1 | |||
Retail-Automobile | 0.1 | |||
Special Purpose Entities | 0.1 | |||
Transport-Equipment & Leasing | 0.1 | |||
Insurance-Mutual | 0.1 | |||
Banks-Fiduciary | 0.1 | |||
Industrial Gases | 0.1 | |||
Auction Houses/Art Dealers | 0.1 | |||
Retail-Apparel/Shoe | 0.1 | |||
Finance-Commercial | 0.1 | |||
Oil Field Machinery & Equipment | 0.1 | |||
Retail-Drug Store | 0.1 | |||
Transport-Marine | 0.1 | |||
Dialysis Centers | 0.1 | |||
Miscellaneous Manufacturing | 0.1 | |||
Pharmacy Services | 0.1 | |||
Television | 0.1 | |||
Metal-Copper | 0.1 | |||
Beverages-Wine/Spirits | 0.1 | |||
Private Equity | 0.1 | |||
Medical Information Systems | 0.1 | |||
Coal | 0.1 | |||
Building & Construction Products-Misc. | 0.1 | |||
Gambling (Non-Hotel) | 0.1 | |||
Computers-Integrated Systems | 0.1 | |||
Venture Capital | 0.1 | |||
Computer Aided Design | 0.1 | |||
Gold Mining | 0.1 | |||
Tools-Hand Held | 0.1 | |||
Real Estate Operations & Development | 0.1 | |||
Machinery-Construction & Mining | 0.1 | |||
Power Converter/Supply Equipment | 0.1 | |||
Investment Companies | 0.1 | |||
Motorcycle/Motor Scooter | 0.1 | |||
Therapeutics | 0.1 | |||
Finance-Credit Card | 0.1 | |||
Aerospace/Defense-Equipment | 0.1 | |||
Building Products-Doors & Windows | 0.1 | |||
Veterinary Diagnostics | 0.1 | |||
Transport-Truck | 0.1 | |||
Wireless Equipment | 0.1 | |||
Water | 0.1 | |||
|
| |||
99.7 | % | |||
|
|
* | Calculated as a percentage of net assets |
| ||
15 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK — 63.0% |
| |||||||
Advanced Materials — 0.0% |
| |||||||
Hexcel Corp.† | 715 | $ | 24,346 | |||||
|
| |||||||
Advertising Agencies — 0.0% |
| |||||||
Omnicom Group, Inc. | 404 | 25,399 | ||||||
|
| |||||||
Advertising Services — 0.3% |
| |||||||
Aimia, Inc. | 51,000 | 749,190 | ||||||
|
| |||||||
Aerospace/Defense — 1.2% |
| |||||||
Boeing Co. | 7,561 | 774,549 | ||||||
Lockheed Martin Corp. | 7,621 | 826,574 | ||||||
Northrop Grumman Corp. | 2,189 | 181,249 | ||||||
Raytheon Co. | 9,379 | 620,139 | ||||||
Rockwell Collins, Inc. | 295 | 18,706 | ||||||
Teledyne Technologies, Inc.† | 2,475 | 191,441 | ||||||
|
| |||||||
2,612,658 | ||||||||
|
| |||||||
Aerospace/Defense-Equipment — 0.1% |
| |||||||
Astronics Corp.† | 197 | 8,051 | ||||||
B/E Aerospace, Inc.† | 257 | 16,212 | ||||||
HEICO Corp. | 435 | 21,911 | ||||||
Kaman Corp. | 241 | 8,329 | ||||||
United Technologies Corp. | 814 | 75,653 | ||||||
|
| |||||||
130,156 | ||||||||
|
| |||||||
Agricultural Chemicals — 0.2% |
| |||||||
Incitec Pivot, Ltd. ADR | 144,708 | 364,664 | ||||||
Monsanto Co. | 507 | 50,092 | ||||||
Rentech, Inc. | 2,735 | 5,743 | ||||||
|
| |||||||
420,499 | ||||||||
|
| |||||||
Airlines — 0.2% |
| |||||||
Alaska Air Group, Inc.† | 7,112 | 369,824 | ||||||
Allegiant Travel Co. | 106 | 11,235 | ||||||
Cathay Pacific Airways, Ltd. ADR | 8,668 | 75,151 | ||||||
Spirit Airlines, Inc.† | 374 | 11,882 | ||||||
United Continental Holdings, Inc.† | 637 | 19,932 | ||||||
US Airways Group, Inc.† | 1,238 | 20,328 | ||||||
|
| |||||||
508,352 | ||||||||
|
| |||||||
Alternative Waste Technology — 0.0% |
| |||||||
Calgon Carbon Corp.† | 523 | 8,724 | ||||||
Darling International, Inc.† | 2,093 | 39,055 | ||||||
|
| |||||||
47,779 | ||||||||
|
| |||||||
Apparel Manufacturers — 0.4% |
| |||||||
Coach, Inc. | 320 | 18,269 | ||||||
Oxford Industries, Inc. | 164 | 10,233 | ||||||
Ralph Lauren Corp. | 82 | 14,247 | ||||||
True Religion Apparel, Inc. | 260 | 8,231 | ||||||
VF Corp. | 3,830 | 739,420 | ||||||
|
| |||||||
790,400 | ||||||||
|
| |||||||
Appliances — 0.0% |
| |||||||
iRobot Corp.† | 266 | 10,579 | ||||||
|
| |||||||
Applications Software — 1.1% |
| |||||||
Actuate Corp.† | 8,561 | 56,845 | ||||||
Citrix Systems, Inc.† | 239 | 14,419 | ||||||
Intuit, Inc. | 395 | 24,107 | ||||||
Microsoft Corp. | 62,648 | 2,163,235 | ||||||
PTC, Inc.† | 969 | 23,770 | ||||||
RealPage, Inc.† | 283 | 5,190 | ||||||
Red Hat, Inc.† | 275 | 13,151 | ||||||
Salesforce.com, Inc.† | 636 | 24,282 |
Security Description | Shares | Value (Note 2) | ||||||
Applications Software (continued) |
| |||||||
Tangoe, Inc.† | 324 | $ | 4,999 | |||||
Verint Systems, Inc.† | 438 | 15,536 | ||||||
|
| |||||||
2,345,534 | ||||||||
|
| |||||||
Athletic Footwear — 0.3% |
| |||||||
NIKE, Inc., Class B | 11,101 | 706,912 | ||||||
|
| |||||||
Auction Houses/Art Dealers — 0.1% |
| |||||||
Ritchie Bros. Auctioneers, Inc. | 12,400 | 238,328 | ||||||
Sotheby’s | 212 | 8,037 | ||||||
|
| |||||||
246,365 | ||||||||
|
| |||||||
Audio/Video Products — 0.0% |
| |||||||
DTS, Inc.† | 280 | 5,763 | ||||||
TiVo, Inc.† | 545 | 6,022 | ||||||
|
| |||||||
11,785 | ||||||||
|
| |||||||
Auto Repair Centers — 0.0% |
| |||||||
Monro Muffler Brake, Inc. | 224 | 10,763 | ||||||
|
| |||||||
Auto-Cars/Light Trucks — 0.3% |
| |||||||
Nissan Motor Co., Ltd. ADR | 30,606 | 622,220 | ||||||
|
| |||||||
Auto-Heavy Duty Trucks — 0.5% |
| |||||||
New Flyer Industries, Inc. | 16,759 | 175,605 | ||||||
PACCAR, Inc. | 16,225 | 870,634 | ||||||
|
| |||||||
1,046,239 | ||||||||
|
| |||||||
Auto-Truck Trailers — 0.0% |
| |||||||
Wabash National Corp.† | 951 | 9,681 | ||||||
|
| |||||||
Auto/Truck Parts & Equipment-Original — 0.7% |
| |||||||
Autoliv, Inc. | 10,567 | 817,780 | ||||||
BorgWarner, Inc.† | 228 | 19,642 | ||||||
Delphi Automotive PLC | 584 | 29,603 | ||||||
Johnson Controls, Inc. | 14,110 | 504,997 | ||||||
Magna International, Inc. | 2,600 | 185,172 | ||||||
Tenneco, Inc.† | 483 | 21,870 | ||||||
Titan International, Inc. | 319 | 5,382 | ||||||
|
| |||||||
1,584,446 | ||||||||
|
| |||||||
Auto/Truck Parts & Equipment-Replacement — 0.0% |
| |||||||
Dorman Products, Inc. | 228 | 10,404 | ||||||
|
| |||||||
B2B/E-Commerce — 0.0% |
| |||||||
SPS Commerce, Inc.† | 163 | 8,965 | ||||||
|
| |||||||
Banks-Commercial — 1.3% |
| |||||||
Australia & New Zealand Banking Group, Ltd. ADR | 4,604 | 120,280 | ||||||
Banco Santander SA ADR | 34,930 | 225,997 | ||||||
Bank of Nova Scotia | 8,378 | 448,642 | ||||||
Cass Information Systems, Inc. | 179 | 8,252 | ||||||
City Holding Co. | 1,685 | 65,631 | ||||||
City National Corp. | 2,835 | 179,654 | ||||||
Community Trust Bancorp, Inc. | 3,015 | 107,394 | ||||||
Cullen/Frost Bankers, Inc. | 4,085 | 272,756 | ||||||
East West Bancorp, Inc. | 6,065 | 166,788 | ||||||
First Financial Bancorp | 3,019 | 44,983 | ||||||
FirstMerit Corp. | 7,948 | 159,198 | ||||||
Grupo Financiero Santander Mexico | 6,754 | 95,974 | ||||||
M&T Bank Corp. | 4,315 | 482,201 | ||||||
PacWest Bancorp | 3,874 | 118,738 | ||||||
Penns Woods Bancorp, Inc. | 334 | 13,981 | ||||||
Sterling Bancorp | 5,960 | 69,255 | ||||||
SVB Financial Group† | 1,950 | 162,474 |
| ||
16 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Banks-Commercial (continued) |
| |||||||
Texas Capital Bancshares, Inc.† | 280 | $ | 12,421 | |||||
TrustCo Bank Corp. | 7,494 | 40,767 | ||||||
Washington Trust Bancorp, Inc. | 3,996 | 113,966 | ||||||
|
| |||||||
2,909,352 | ||||||||
|
| |||||||
Banks-Fiduciary — 0.1% |
| |||||||
State Street Corp. | 3,950 | 257,579 | ||||||
|
| |||||||
Banks-Super Regional — 1.9% |
| |||||||
Banco Latinoamericano de Comercio Exterior SA, Class E | 23,000 | 514,970 | ||||||
PNC Financial Services Group, Inc. | 12,794 | 932,939 | ||||||
US Bancorp | 30,201 | 1,091,766 | ||||||
Wells Fargo & Co. | 38,838 | 1,602,844 | ||||||
|
| |||||||
4,142,519 | ||||||||
|
| |||||||
Batteries/Battery Systems — 0.0% |
| |||||||
EnerSys, Inc. | 141 | 6,915 | ||||||
|
| |||||||
Beverages-Non-alcoholic — 0.9% |
| |||||||
Coca-Cola Co. | 15,159 | 608,028 | ||||||
Coca-Cola HBC AG ADR | 2,200 | 51,436 | ||||||
Dr Pepper Snapple Group, Inc. | 15,510 | 712,374 | ||||||
PepsiCo, Inc. | 6,558 | 536,379 | ||||||
|
| |||||||
1,908,217 | ||||||||
|
| |||||||
Beverages-Wine/Spirits — 0.1% |
| |||||||
Brown-Forman Corp., Class B | 2,843 | 192,045 | ||||||
|
| |||||||
Brewery — 0.0% |
| |||||||
Boston Beer Co., Inc., Class A† | 77 | 13,139 | ||||||
|
| |||||||
Broadcast Services/Program — 0.0% |
| |||||||
Discovery Communications, Inc., | 279 | 21,542 | ||||||
|
| |||||||
Building & Construction Products-Misc. — 0.1% |
| |||||||
Nortek, Inc.† | 88 | 5,670 | ||||||
Simpson Manufacturing Co., Inc. | 4,897 | 144,070 | ||||||
Trex Co., Inc.† | 173 | 8,216 | ||||||
USG Corp.† | 626 | 14,429 | ||||||
|
| |||||||
172,385 | ||||||||
|
| |||||||
Building & Construction-Misc. — 0.0% |
| |||||||
Dycom Industries, Inc.† | 370 | 8,562 | ||||||
MasTec, Inc.† | 470 | 15,463 | ||||||
|
| |||||||
24,025 | ||||||||
|
| |||||||
Building Products-Air & Heating — 0.0% |
| |||||||
AAON, Inc. | 345 | 11,413 | ||||||
|
| |||||||
Building Products-Cement — 0.0% |
| |||||||
Eagle Materials, Inc. | 352 | 23,327 | ||||||
|
| |||||||
Building Products-Doors & Windows — 0.1% |
| |||||||
Apogee Enterprises, Inc. | 5,420 | 130,080 | ||||||
|
| |||||||
Building-Heavy Construction — 0.0% |
| |||||||
Granite Construction, Inc. | 3,300 | 98,208 | ||||||
|
| |||||||
Building-Mobile Home/Manufactured Housing — 0.0% |
| |||||||
Cavco Industries, Inc.† | 123 | 6,205 | ||||||
|
| |||||||
Building-Residential/Commercial — 0.0% |
| |||||||
NVR, Inc.† | 14 | 12,908 | ||||||
Ryland Group, Inc. | 285 | 11,428 | ||||||
|
| |||||||
24,336 | ||||||||
|
|
Security Description | Shares | Value (Note 2) | ||||||
Cable/Satellite TV — 0.1% |
| |||||||
Comcast Corp., Class A | 1,145 | $ | 47,953 | |||||
DIRECTV† | 593 | 36,541 | ||||||
Liberty Global PLC, Class A† | 314 | 23,261 | ||||||
Time Warner Cable, Inc. | 282 | 31,719 | ||||||
|
| |||||||
139,474 | ||||||||
|
| |||||||
Casino Hotels — 0.0% |
| |||||||
Ameristar Casinos, Inc. | 446 | 11,725 | ||||||
Las Vegas Sands Corp. | 422 | 22,337 | ||||||
Wynn Resorts, Ltd. | 103 | 13,184 | ||||||
|
| |||||||
47,246 | ||||||||
|
| |||||||
Casino Services — 0.0% |
| |||||||
Multimedia Games Holding Co., Inc.† | 413 | 10,767 | ||||||
SHFL Entertainment, Inc.† | 482 | 8,536 | ||||||
|
| |||||||
19,303 | ||||||||
|
| |||||||
Cellular Telecom — 0.4% |
| |||||||
China Mobile, Ltd. ADR | 5,350 | 276,970 | ||||||
Comverse, Inc.† | 201 | 5,982 | ||||||
Vodafone Group PLC ADR | 18,541 | 532,868 | ||||||
|
| |||||||
815,820 | ||||||||
|
| |||||||
Chemicals-Diversified — 1.0% |
| |||||||
Akzo Nobel NV ADR | 27,100 | 509,751 | ||||||
Axiall Corp. | 2,480 | 105,599 | ||||||
Chemtura Corp.† | 601 | 12,200 | ||||||
E.I. du Pont de Nemours & Co. | 11,376 | 597,240 | ||||||
FMC Corp. | 4,303 | 262,741 | ||||||
Huntsman Corp. | 6,534 | 108,203 | ||||||
Innophos Holdings, Inc. | 149 | 7,028 | ||||||
Israel Chemicals, Ltd. ADR | 31,900 | 314,853 | ||||||
Olin Corp. | 388 | 9,281 | ||||||
PPG Industries, Inc. | 1,676 | 245,383 | ||||||
Rockwood Holdings, Inc. | 1,771 | 113,397 | ||||||
|
| |||||||
2,285,676 | ||||||||
|
| |||||||
Chemicals-Other — 0.0% |
| |||||||
American Vanguard Corp. | 271 | 6,350 | ||||||
|
| |||||||
Chemicals-Plastics — 0.0% |
| |||||||
PolyOne Corp. | 615 | 15,240 | ||||||
|
| |||||||
Chemicals-Specialty — 0.5% |
| |||||||
Balchem Corp. | 239 | 10,695 | ||||||
Cabot Corp. | 10,809 | 404,473 | ||||||
Canexus Corp. | 16,118 | 140,996 | ||||||
Ecolab, Inc. | 306 | 26,068 | ||||||
H.B. Fuller Co. | 411 | 15,540 | ||||||
Hawkins, Inc. | 136 | 5,357 | ||||||
International Flavors & Fragrances, Inc. | 3,405 | 255,920 | ||||||
OMNOVA Solutions, Inc.† | 806 | 6,456 | ||||||
Sigma-Aldrich Corp. | 2,586 | 207,811 | ||||||
Stepan Co. | 140 | 7,785 | ||||||
|
| |||||||
1,081,101 | ||||||||
|
| |||||||
Coal — 0.1% |
| |||||||
Alliance Resource Partners LP | 2,376 | 167,817 | ||||||
SunCoke Energy, Inc.† | 501 | 7,024 | ||||||
|
| |||||||
174,841 | ||||||||
|
| |||||||
Coatings/Paint — 0.2% |
| |||||||
RPM International, Inc. | 3,818 | 121,947 | ||||||
Sherwin-Williams Co. | 101 | 17,836 | ||||||
Valspar Corp. | 4,400 | 284,548 | ||||||
|
| |||||||
424,331 | ||||||||
|
|
| ||
17 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Commercial Services — 0.2% |
| |||||||
Acacia Research Corp. | 427 | $ | 9,544 | |||||
Arbitron, Inc. | 229 | 10,637 | ||||||
CoStar Group, Inc.† | 192 | 24,781 | ||||||
ExlService Holdings, Inc.† | 271 | 8,011 | ||||||
Healthcare Services Group, Inc. | 504 | 12,358 | ||||||
HMS Holdings Corp.† | 671 | 15,634 | ||||||
ServiceSource International, Inc.† | 593 | 5,527 | ||||||
Standard Parking Corp.† | 240 | 5,150 | ||||||
Steiner Leisure, Ltd.† | 184 | 9,726 | ||||||
Team, Inc.† | 176 | 6,662 | ||||||
Weight Watchers International, Inc. | 9,462 | 435,252 | ||||||
|
| |||||||
543,282 | ||||||||
|
| |||||||
Commercial Services-Finance — 0.2% |
| |||||||
Automatic Data Processing, Inc. | 512 | 35,256 | ||||||
Cardtronics, Inc.† | 339 | 9,356 | ||||||
Global Cash Access Holdings, Inc.† | 822 | 5,146 | ||||||
Green Dot Corp., Class A† | 306 | 6,105 | ||||||
Heartland Payment Systems, Inc. | 292 | 10,877 | ||||||
Lender Processing Services, Inc. | 4,931 | 159,518 | ||||||
Mastercard, Inc., Class A | 97 | 55,726 | ||||||
McGraw-Hill Financial, Inc. | 398 | 21,170 | ||||||
Moody’s Corp. | 359 | 21,874 | ||||||
Western Union Co. | 949 | 16,237 | ||||||
WEX, Inc.† | 291 | 22,320 | ||||||
|
| |||||||
363,585 | ||||||||
|
| |||||||
Computer Aided Design — 0.1% |
| |||||||
Aspen Technology, Inc.† | 673 | 19,376 | ||||||
Autodesk, Inc.† | 4,180 | 141,869 | ||||||
|
| |||||||
161,245 | ||||||||
|
| |||||||
Computer Graphics — 0.0% |
| |||||||
Monotype Imaging Holdings, Inc. | 490 | 12,451 | ||||||
|
| |||||||
Computer Services — 0.5% |
| |||||||
Accenture PLC, Class A | 632 | 45,479 | ||||||
Cognizant Technology Solutions Corp., Class A† | 347 | 21,726 | ||||||
iGATE Corp.† | 367 | 6,026 | ||||||
Indra Sistemas SA ADR | 46,000 | 293,940 | ||||||
International Business Machines Corp. | 3,986 | 761,765 | ||||||
j2 Global, Inc. | 274 | 11,648 | ||||||
LivePerson, Inc.† | 419 | 3,752 | ||||||
Manhattan Associates, Inc.† | 177 | 13,657 | ||||||
Syntel, Inc. | 113 | 7,104 | ||||||
Unisys Corp.† | 190 | 4,193 | ||||||
|
| |||||||
1,169,290 | ||||||||
|
| |||||||
Computer Software — 0.0% |
| |||||||
Blackbaud, Inc. | 370 | 12,051 | ||||||
Cornerstone OnDemand, Inc.† | 289 | 12,511 | ||||||
|
| |||||||
24,562 | ||||||||
|
| |||||||
Computers — 0.8% |
| |||||||
Apple, Inc. | 4,288 | 1,698,391 | ||||||
|
| |||||||
Computers-Integrated Systems — 0.1% |
| |||||||
3D Systems Corp.† | 570 | 25,023 | ||||||
Cray, Inc.† | 513 | 10,075 | ||||||
Diebold, Inc. | 600 | 20,214 | ||||||
MTS Systems Corp. | 1,490 | 84,334 | ||||||
Netscout Systems, Inc.† | 310 | 7,236 | ||||||
Super Micro Computer, Inc.† | 402 | 4,277 | ||||||
Teradata Corp.† | 217 | 10,900 | ||||||
|
| |||||||
162,059 | ||||||||
|
|
Security Description | Shares | Value (Note 2) | ||||||
Computers-Memory Devices — 0.2% |
| |||||||
EMC Corp. | 15,901 | $ | 375,582 | |||||
NetApp, Inc.† | 431 | 16,283 | ||||||
|
| |||||||
391,865 | ||||||||
|
| |||||||
Computers-Periphery Equipment — 0.0% |
| |||||||
Synaptics, Inc.† | 329 | 12,686 | ||||||
|
| |||||||
Consulting Services — 0.0% |
| |||||||
Accretive Health, Inc.† | 464 | 5,016 | ||||||
Advisory Board Co.† | 280 | 15,302 | ||||||
Corporate Executive Board Co. | 259 | 16,374 | ||||||
Huron Consulting Group, Inc.† | 219 | 10,126 | ||||||
MAXIMUS, Inc. | 237 | 17,652 | ||||||
|
| |||||||
64,470 | ||||||||
|
| |||||||
Consumer Products-Misc. — 0.4% |
| |||||||
Clorox Co. | 1,777 | 147,740 | ||||||
Kimberly-Clark Corp. | 1,509 | 146,584 | ||||||
Kimberly-Clark de Mexico SAB de CV ADR | 5,340 | 85,867 | ||||||
Prestige Brands Holdings, Inc.† | 397 | 11,569 | ||||||
Spectrum Brands Holdings, Inc. | 176 | 10,009 | ||||||
Tupperware Brands Corp. | 4,903 | 380,914 | ||||||
WD-40 Co. | 3,181 | 173,301 | ||||||
|
| |||||||
955,984 | ||||||||
|
| |||||||
Containers-Metal/Glass — 0.0% |
| |||||||
Ball Corp. | 349 | 14,497 | ||||||
|
| |||||||
Containers-Paper/Plastic — 0.0% |
| |||||||
AEP Industries, Inc.† | 58 | 4,315 | ||||||
Packaging Corp. of America | 1,897 | 92,877 | ||||||
|
| |||||||
97,192 | ||||||||
|
| |||||||
Cosmetics & Toiletries — 0.3% |
| |||||||
Avon Products, Inc. | 771 | 16,214 | ||||||
Colgate-Palmolive Co. | 726 | 41,593 | ||||||
Elizabeth Arden, Inc.† | 154 | 6,941 | ||||||
Estee Lauder Cos., Inc., Class A | 305 | 20,060 | ||||||
Procter & Gamble Co. | 6,272 | 482,881 | ||||||
|
| |||||||
567,689 | ||||||||
|
| |||||||
Cruise Lines — 0.1% |
| |||||||
Carnival Corp. | 3,650 | 125,158 | ||||||
|
| |||||||
Data Processing/Management — 0.2% |
| |||||||
CommVault Systems, Inc.† | 321 | 24,361 | ||||||
Fair Isaac Corp. | 3,253 | 149,085 | ||||||
Fidelity National Information Services, Inc. | 6,393 | 273,876 | ||||||
Fiserv, Inc.† | 199 | 17,394 | ||||||
Pegasystems, Inc. | 174 | 5,763 | ||||||
|
| |||||||
470,479 | ||||||||
|
| |||||||
Decision Support Software — 0.0% |
| |||||||
Interactive Intelligence Group, Inc.† | 254 | 13,106 | ||||||
|
| |||||||
Dental Supplies & Equipment — 0.0% |
| |||||||
Align Technology, Inc.† | 544 | 20,150 | ||||||
|
| |||||||
Diagnostic Equipment — 0.0% |
| |||||||
Cepheid, Inc.† | 484 | 16,659 | ||||||
|
| |||||||
Diagnostic Kits — 0.0% |
| |||||||
Meridian Bioscience, Inc. | 2,246 | 48,289 | ||||||
OraSure Technologies, Inc.† | 693 | 2,689 | ||||||
Quidel Corp.† | 390 | 9,957 | ||||||
|
| |||||||
60,935 | ||||||||
|
|
| ||
18 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Dialysis Centers — 0.1% |
| |||||||
DaVita HealthCare Partners, Inc.† | 1,818 | $ | 219,614 | |||||
|
| |||||||
Distribution/Wholesale — 0.7% |
| |||||||
Arrow Electronics, Inc.† | 7,200 | 286,920 | ||||||
Beacon Roofing Supply, Inc.† | 382 | 14,470 | ||||||
Fastenal Co. | 417 | 19,119 | ||||||
Genuine Parts Co. | 9,759 | 761,885 | ||||||
MWI Veterinary Supply, Inc.† | 109 | 13,433 | ||||||
Owens & Minor, Inc. | 367 | 12,416 | ||||||
Pool Corp. | 5,037 | 263,989 | ||||||
Titan Machinery, Inc.† | 187 | 3,671 | ||||||
Watsco, Inc. | 177 | 14,861 | ||||||
Wolseley PLC ADR | 9,891 | 46,191 | ||||||
|
| |||||||
1,436,955 | ||||||||
|
| |||||||
Diversified Banking Institutions — 1.2% |
| |||||||
BNP Paribas SA ADR | 14,600 | 401,792 | ||||||
Goldman Sachs Group, Inc. | 850 | 128,562 | ||||||
HSBC Holdings PLC ADR | 7,000 | 363,300 | ||||||
JPMorgan Chase & Co. | 31,669 | 1,671,807 | ||||||
|
| |||||||
2,565,461 | ||||||||
|
| |||||||
Diversified Financial Services — 0.0% |
| |||||||
DFC Global Corp.† | 313 | 4,323 | ||||||
|
| |||||||
Diversified Manufacturing Operations — 1.5% |
| |||||||
3M Co. | 3,519 | 384,803 | ||||||
AZZ, Inc. | 232 | 8,946 | ||||||
Blount International, Inc.† | 447 | 5,284 | ||||||
Crane Co. | 5,503 | 329,740 | ||||||
EnPro Industries, Inc.† | 166 | 8,426 | ||||||
General Electric Co. | 22,949 | 532,187 | ||||||
Illinois Tool Works, Inc. | 497 | 34,377 | ||||||
Ingersoll-Rand PLC | 387 | 21,486 | ||||||
Koppers Holdings, Inc. | 203 | 7,750 | ||||||
Orkla ASA ADR | 86,400 | 721,440 | ||||||
Parker Hannifin Corp. | 6,384 | 609,034 | ||||||
Raven Industries, Inc. | 242 | 7,255 | ||||||
Siemens AG ADR | 4,000 | 405,240 | ||||||
Vesuvius PLC(1) | 34,400 | 192,331 | ||||||
|
| |||||||
3,268,299 | ||||||||
|
| |||||||
Diversified Minerals — 0.1% |
| |||||||
AMCOL International Corp. | 252 | 7,986 | ||||||
BHP Billiton, Ltd. ADR | 4,684 | 270,079 | ||||||
|
| |||||||
278,065 | ||||||||
|
| |||||||
Diversified Operations/Commercial Services — 0.0% |
| |||||||
Chemed Corp. | 108 | 7,822 | ||||||
|
| |||||||
Drug Delivery Systems — 0.0% |
| |||||||
Depomed, Inc.† | 1,212 | 6,799 | ||||||
Nektar Therapeutics† | 800 | 9,240 | ||||||
|
| |||||||
16,039 | ||||||||
|
| |||||||
E-Commerce/Products — 0.4% |
| |||||||
Amazon.com, Inc.† | 1,627 | 451,801 | ||||||
Blue Nile, Inc.† | 156 | 5,894 | ||||||
eBay, Inc.† | 7,658 | 396,072 | ||||||
Nutrisystem, Inc. | 556 | 6,550 | ||||||
|
| |||||||
860,317 | ||||||||
|
| |||||||
E-Commerce/Services — 0.0% |
| |||||||
Angie’s List, Inc.† | 412 | 10,939 | ||||||
Move, Inc.† | 802 | 10,282 |
Security Description | Shares | Value (Note 2) | ||||||
E-Commerce/Services (continued) |
| |||||||
Netflix, Inc.† | 73 | $ | 15,409 | |||||
OpenTable, Inc.† | 175 | 11,191 | ||||||
priceline.com, Inc.† | 47 | 38,875 | ||||||
|
| |||||||
86,696 | ||||||||
|
| |||||||
E-Marketing/Info — 0.0% |
| |||||||
Active Network, Inc.† | 644 | 4,875 | ||||||
comScore, Inc.† | 472 | 11,512 | ||||||
Constant Contact, Inc.† | 275 | 4,420 | ||||||
Liquidity Services, Inc.† | 166 | 5,755 | ||||||
ValueClick, Inc.† | 400 | 9,872 | ||||||
|
| |||||||
36,434 | ||||||||
|
| |||||||
E-Services/Consulting — 0.0% |
| |||||||
Saba Software, Inc.† | 671 | 6,542 | ||||||
Sapient Corp.† | 1,100 | 14,366 | ||||||
|
| |||||||
20,908 | ||||||||
|
| |||||||
Electric Products-Misc. — 0.3% |
| |||||||
AMETEK, Inc. | 427 | 18,062 | ||||||
Emerson Electric Co. | 8,154 | 444,719 | ||||||
Littelfuse, Inc. | 143 | 10,670 | ||||||
Molex, Inc. | 4,574 | 134,201 | ||||||
|
| |||||||
607,652 | ||||||||
|
| |||||||
Electric-Generation — 0.2% |
| |||||||
APR Energy PLC ADR | 24,700 | 376,181 | ||||||
|
| |||||||
Electric-Integrated — 1.4% |
| |||||||
Alliant Energy Corp. | 1,305 | 65,798 | ||||||
Duke Energy Corp. | 2,846 | 192,105 | ||||||
Edison International | 4,500 | 216,720 | ||||||
Great Plains Energy, Inc. | 1,525 | 34,373 | ||||||
NextEra Energy, Inc. | 7,490 | 610,285 | ||||||
Northeast Utilities | 17,221 | 723,626 | ||||||
Pepco Holdings, Inc. | 3,493 | 70,419 | ||||||
PNM Resources, Inc. | 3,736 | 82,902 | ||||||
SCANA Corp. | 1,241 | 60,933 | ||||||
Wisconsin Energy Corp. | 15,729 | 644,732 | ||||||
Xcel Energy, Inc. | 18,037 | 511,169 | ||||||
|
| |||||||
3,213,062 | ||||||||
|
| |||||||
Electronic Components-Misc. — 0.3% |
| |||||||
Garmin, Ltd. | 5,280 | 190,925 | ||||||
OSI Systems, Inc.† | 158 | 10,178 | ||||||
Plexus Corp.† | 145 | 4,334 | ||||||
TE Connectivity, Ltd. | 11,200 | 510,048 | ||||||
|
| |||||||
715,485 | ||||||||
|
| |||||||
Electronic Components-Semiconductors — 1.4% |
| |||||||
Altera Corp. | 3,538 | 116,719 | ||||||
Avago Technologies, Ltd. | 3,766 | 140,773 | ||||||
Broadcom Corp., Class A | 533 | 17,994 | ||||||
Cavium, Inc.† | 413 | 14,608 | ||||||
Ceva, Inc.† | 341 | 6,602 | ||||||
GT Advanced Technologies, Inc.† | 1,210 | 5,021 | ||||||
Intel Corp. | 53,354 | 1,292,234 | ||||||
LSI Corp.† | 8,341 | 59,555 | ||||||
Microchip Technology, Inc. | 33,633 | 1,252,829 | ||||||
Microsemi Corp.† | 656 | 14,924 | ||||||
Monolithic Power Systems, Inc. | 353 | 8,511 | ||||||
QLogic Corp.† | 3,460 | 33,077 | ||||||
Semtech Corp.† | 422 | 14,783 | ||||||
Silicon Image, Inc.† | 1,226 | 7,172 |
| ||
19 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Electronic Components-Semiconductors (continued) |
| |||||||
Supertex, Inc. | 2,942 | $ | 70,343 | |||||
Texas Instruments, Inc. | 947 | 33,022 | ||||||
Volterra Semiconductor Corp.† | 227 | 3,205 | ||||||
|
| |||||||
3,091,372 | ||||||||
|
| |||||||
Electronic Connectors — 0.0% |
| |||||||
Amphenol Corp., Class A | 263 | 20,498 | ||||||
|
| |||||||
Electronic Design Automation — 0.0% |
| |||||||
Mentor Graphics Corp. | 443 | 8,661 | ||||||
|
| |||||||
Electronic Forms — 0.2% |
| |||||||
Adobe Systems, Inc.† | 10,142 | 462,069 | ||||||
|
| |||||||
Electronic Measurement Instruments — 0.1% |
| |||||||
Agilent Technologies, Inc. | 486 | 20,781 | ||||||
Analogic Corp. | 126 | 9,177 | ||||||
Badger Meter, Inc. | 190 | 8,464 | ||||||
FARO Technologies, Inc.† | 195 | 6,595 | ||||||
FLIR Systems, Inc. | 2,575 | 69,448 | ||||||
Measurement Specialties, Inc.† | 194 | 9,027 | ||||||
Trimble Navigation, Ltd.† | 6,600 | 171,666 | ||||||
|
| |||||||
295,158 | ||||||||
|
| |||||||
Electronic Security Devices — 0.0% |
| |||||||
Taser International, Inc.† | 1,226 | 10,445 | ||||||
|
| |||||||
Energy-Alternate Sources — 0.0% |
| |||||||
Clean Energy Fuels Corp.† | 533 | 7,036 | ||||||
Solazyme, Inc.† | 471 | 5,520 | ||||||
|
| |||||||
12,556 | ||||||||
|
| |||||||
Engineering/R&D Services — 0.2% |
| |||||||
Exponent, Inc. | 122 | 7,211 | ||||||
Fluor Corp. | 347 | 20,581 | ||||||
Jacobs Engineering Group, Inc.† | 8,665 | 477,701 | ||||||
|
| |||||||
505,493 | ||||||||
|
| |||||||
Engines-Internal Combustion — 0.0% |
| |||||||
Cummins, Inc. | 234 | 25,380 | ||||||
|
| |||||||
Enterprise Software/Service — 0.5% |
| |||||||
Advent Software, Inc.† | 215 | 7,538 | ||||||
American Software, Inc., Class A | 1,019 | 8,855 | ||||||
BMC Software, Inc.† | 2,003 | 90,416 | ||||||
Guidewire Software, Inc.† | 204 | 8,578 | ||||||
Informatica Corp.† | 3,152 | 110,257 | ||||||
MicroStrategy, Inc., Class A† | 72 | 6,261 | ||||||
Omnicell, Inc.† | 4,555 | 93,605 | ||||||
Oracle Corp. | 19,789 | 607,918 | ||||||
PROS Holdings, Inc.† | 391 | 11,711 | ||||||
QLIK Technologies, Inc.† | 671 | 18,969 | ||||||
Tyler Technologies, Inc.† | 2,468 | 169,181 | ||||||
Ultimate Software Group, Inc.† | 196 | 22,989 | ||||||
|
| |||||||
1,156,278 | ||||||||
|
| |||||||
Entertainment Software — 0.0% |
| |||||||
Take-Two Interactive Software, Inc.† | 831 | 12,440 | ||||||
|
| |||||||
Environmental Consulting & Engineering — 0.0% |
| |||||||
Tetra Tech, Inc.† | 369 | 8,675 | ||||||
|
| |||||||
Environmental Monitoring & Detection — 0.0% |
| |||||||
Mine Safety Appliances Co. | 223 | 10,381 | ||||||
|
| |||||||
Filtration/Separation Products — 0.0% |
| |||||||
CLARCOR, Inc. | 316 | 16,498 | ||||||
Pall Corp. | 287 | 19,066 | ||||||
|
| |||||||
35,564 | ||||||||
|
|
Security Description | Shares | Value (Note 2) | ||||||
Finance-Auto Loans — 0.0% |
| |||||||
Credit Acceptance Corp.† | 41 | $ | 4,307 | |||||
|
| |||||||
Finance-Consumer Loans — 0.0% |
| |||||||
Encore Capital Group, Inc.† | 177 | 5,861 | ||||||
Portfolio Recovery Associates, Inc.† | 127 | 19,511 | ||||||
World Acceptance Corp.† | 82 | 7,129 | ||||||
|
| |||||||
32,501 | ||||||||
|
| |||||||
Finance-Credit Card — 0.1% |
| |||||||
American Express Co. | 622 | 46,501 | ||||||
Visa, Inc., Class A | 459 | 83,882 | ||||||
|
| |||||||
130,383 | ||||||||
|
| |||||||
Finance-Investment Banker/Broker — 0.2% |
| |||||||
Charles Schwab Corp. | 23,782 | 504,892 | ||||||
Diamond Hill Investment Group, Inc. | 51 | 4,337 | ||||||
Greenhill & Co., Inc. | 245 | 11,206 | ||||||
LPL Financial Holdings, Inc. | 372 | 14,047 | ||||||
Stifel Financial Corp.† | 240 | 8,561 | ||||||
|
| |||||||
543,043 | ||||||||
|
| |||||||
Finance-Leasing Companies — 0.0% |
| |||||||
Fly Leasing, Ltd. ADR | 5,215 | 87,873 | ||||||
|
| |||||||
Finance-Mortgage Loan/Banker — 0.0% |
| |||||||
Nationstar Mortgage Holdings, Inc.† | 188 | 7,039 | ||||||
|
| |||||||
Finance-Other Services — 0.3% |
| |||||||
BGC Partners, Inc., Class A | 1,222 | 7,198 | ||||||
Deutsche Boerse AG ADR | 95,300 | 622,785 | ||||||
Higher One Holdings, Inc.† | 445 | 5,180 | ||||||
IntercontinentalExchange, Inc.† | 104 | 18,487 | ||||||
MarketAxess Holdings, Inc. | 294 | 13,744 | ||||||
Outerwall Inc† | 231 | 13,553 | ||||||
|
| |||||||
680,947 | ||||||||
|
| |||||||
Firearms & Ammunition — 0.0% |
| |||||||
Smith & Wesson Holding Corp.† | 674 | 6,726 | ||||||
Sturm Ruger & Co., Inc. | 149 | 7,158 | ||||||
|
| |||||||
13,884 | ||||||||
|
| |||||||
Fisheries — 0.2% |
| |||||||
Marine Harvest ASA ADR | 19,200 | 388,416 | ||||||
|
| |||||||
Food-Canned — 0.0% | ||||||||
TreeHouse Foods, Inc.† | 192 | 12,584 | ||||||
|
| |||||||
Food-Confectionery — 0.0% | ||||||||
Hershey Co. | 175 | 15,624 | ||||||
Tootsie Roll Industries, Inc. | 251 | 7,977 | ||||||
|
| |||||||
23,601 | ||||||||
|
| |||||||
Food-Flour & Grain — 0.0% |
| |||||||
Post Holdings, Inc.† | 210 | 9,169 | ||||||
|
| |||||||
Food-Misc./Diversified — 0.8% |
| |||||||
B&G Foods, Inc. | 3,066 | 104,397 | ||||||
General Mills, Inc. | 6,967 | 338,109 | ||||||
Hain Celestial Group, Inc.† | 265 | 17,217 | ||||||
J&J Snack Foods Corp. | 119 | 9,258 | ||||||
Kellogg Co. | 266 | 17,085 | ||||||
Kraft Foods Group, Inc. | 9,648 | 539,034 | ||||||
Lancaster Colony Corp. | 109 | 8,501 | ||||||
McCormick & Co., Inc. | 209 | 14,705 | ||||||
Mondelez International, Inc., Class A | 7,647 | 218,169 | ||||||
Snyders-Lance, Inc. | 341 | 9,688 | ||||||
Unilever NV | 10,000 | 393,100 | ||||||
|
| |||||||
1,669,263 | ||||||||
|
|
| ||
20 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Food-Retail — 0.9% |
| |||||||
Dairy Farm International Holdings, Ltd. ADR | 4,394 | $ | 262,322 | |||||
Kroger Co. | 32,282 | 1,115,020 | ||||||
SUPERVALU, Inc.† | 1,702 | 10,586 | ||||||
Tesco PLC ADR | 33,000 | 503,250 | ||||||
Whole Foods Market, Inc. | 378 | 19,460 | ||||||
|
| |||||||
1,910,638 | ||||||||
|
| |||||||
Food-Wholesale/Distribution — 0.0% |
| |||||||
Calavo Growers, Inc. | 200 | 5,438 | ||||||
Sysco Corp. | 813 | 27,772 | ||||||
United Natural Foods, Inc.† | 377 | 20,354 | ||||||
|
| |||||||
53,564 | ||||||||
|
| |||||||
Footwear & Related Apparel — 0.0% |
| |||||||
Crocs, Inc.† | 728 | 12,012 | ||||||
Steven Madden, Ltd.† | 291 | 14,079 | ||||||
Wolverine World Wide, Inc. | 336 | 18,349 | ||||||
|
| |||||||
44,440 | ||||||||
|
| |||||||
Forestry — 0.0% |
| |||||||
Deltic Timber Corp. | 80 | 4,626 | ||||||
|
| |||||||
Gambling (Non-Hotel) — 0.1% |
| |||||||
OPAP SA ADR | 40,200 | 168,036 | ||||||
|
| |||||||
Gas-Distribution — 0.6% |
| |||||||
Sempra Energy | 14,981 | 1,224,847 | ||||||
Vectren Corp. | 1,851 | 62,619 | ||||||
|
| |||||||
1,287,466 | ||||||||
|
| |||||||
Gold Mining — 0.1% |
| |||||||
Banro Corp.† | 132,000 | 99,000 | ||||||
Gold Resource Corp. | 275 | 2,395 | ||||||
IAMGOLD Corp. | 13,100 | 56,723 | ||||||
|
| |||||||
158,118 | ||||||||
|
| |||||||
Hazardous Waste Disposal — 0.0% |
| |||||||
Stericycle, Inc.† | 96 | 10,601 | ||||||
|
| |||||||
Heart Monitors — 0.0% |
| |||||||
HeartWare International, Inc.† | 119 | 11,318 | ||||||
|
| |||||||
Home Decoration Products — 0.0% |
| |||||||
Newell Rubbermaid, Inc. | 2,602 | 68,302 | ||||||
|
| |||||||
Home Furnishings — 0.0% |
| |||||||
Ethan Allen Interiors, Inc. | 202 | 5,818 | ||||||
Select Comfort Corp.† | 457 | 11,452 | ||||||
|
| |||||||
17,270 | ||||||||
|
| |||||||
Hotels/Motels — 0.0% |
| |||||||
Marriott International, Inc., Class A | 237 | 9,568 | ||||||
Red Lion Hotels Corp.† | 10,762 | 65,756 | ||||||
Starwood Hotels & Resorts Worldwide, Inc. | 245 | 15,481 | ||||||
Wyndham Worldwide Corp. | 201 | 11,503 | ||||||
|
| |||||||
102,308 | ||||||||
|
| |||||||
Housewares — 0.0% |
| |||||||
Libbey, Inc.† | 332 | 7,958 | ||||||
|
| |||||||
Human Resources — 0.4% |
| |||||||
Adecco SA ADR | 19,200 | 544,320 | ||||||
Insperity, Inc. | 187 | 5,666 | ||||||
Kforce, Inc. | 490 | 7,154 |
Security Description | Shares | Value (Note 2) | ||||||
Human Resources (continued) |
| |||||||
On Assignment, Inc.† | 422 | $ | 11,276 | |||||
Robert Half International, Inc. | 3,911 | 129,963 | ||||||
Team Health Holdings, Inc.† | 261 | 10,719 | ||||||
TrueBlue, Inc.† | 6,548 | 137,835 | ||||||
|
| |||||||
846,933 | ||||||||
|
| |||||||
Industrial Automated/Robotic — 0.0% |
| |||||||
Cognex Corp. | 323 | 14,606 | ||||||
Rockwell Automation, Inc. | 256 | 21,284 | ||||||
|
| |||||||
35,890 | ||||||||
|
| |||||||
Industrial Gases — 0.1% |
| |||||||
Air Products & Chemicals, Inc. | 2,365 | 216,563 | ||||||
Praxair, Inc. | 287 | 33,051 | ||||||
|
| |||||||
249,614 | ||||||||
|
| |||||||
Instruments-Controls — 0.2% |
| |||||||
Honeywell International, Inc. | 5,031 | 399,160 | ||||||
Woodward, Inc. | 520 | 20,800 | ||||||
|
| |||||||
419,960 | ||||||||
|
| |||||||
Instruments-Scientific — 0.3% |
| |||||||
FEI Co. | 2,630 | 191,964 | ||||||
Fluidigm Corp.† | 462 | 8,066 | ||||||
Thermo Fisher Scientific, Inc. | 2,825 | 239,080 | ||||||
Waters Corp.† | 2,406 | 240,720 | ||||||
|
| |||||||
679,830 | ||||||||
|
| |||||||
Insurance Brokers — 0.2% |
| |||||||
eHealth, Inc.† | 350 | 7,952 | ||||||
Marsh & McLennan Cos., Inc. | 497 | 19,840 | ||||||
Willis Group Holdings PLC | 10,500 | 428,190 | ||||||
|
| |||||||
455,982 | ||||||||
|
| |||||||
Insurance-Life/Health — 0.1% |
| |||||||
Protective Life Corp. | 2,640 | 101,403 | ||||||
StanCorp Financial Group, Inc. | 1,425 | 70,409 | ||||||
|
| |||||||
171,812 | ||||||||
|
| |||||||
Insurance-Multi-line — 1.6% |
| |||||||
ACE, Ltd. | 14,170 | 1,267,931 | ||||||
Allianz SE ADR | 15,408 | 225,111 | ||||||
Allstate Corp. | 11,057 | 532,063 | ||||||
MetLife, Inc. | 28,239 | 1,292,217 | ||||||
XL Group PLC | 7,488 | 227,036 | ||||||
|
| |||||||
3,544,358 | ||||||||
|
| |||||||
Insurance-Property/Casualty — 1.4% |
| |||||||
Catlin Group, Ltd. ADR | 47,600 | 719,712 | ||||||
Chubb Corp. | 4,679 | 396,077 | ||||||
Fidelity National Financial, Inc., Class A | 49,448 | 1,177,357 | ||||||
Hanover Insurance Group, Inc. | 372 | 18,202 | ||||||
HCC Insurance Holdings, Inc. | 15,017 | 647,383 | ||||||
Markel Corp.† | 342 | 180,217 | ||||||
OneBeacon Insurance Group, Ltd., Class A | 4,809 | 69,634 | ||||||
|
| |||||||
3,208,582 | ||||||||
|
| |||||||
Insurance-Reinsurance — 0.4% |
| |||||||
PartnerRe, Ltd. | 1,378 | 124,792 | ||||||
Swiss Re AG ADR | 8,413 | 627,559 | ||||||
Validus Holdings, Ltd. | 2,609 | 94,237 | ||||||
|
| |||||||
846,588 | ||||||||
|
|
| ||
21 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Internet Application Software — 0.0% |
| |||||||
Dealertrack Technologies, Inc.† | 283 | $ | 10,026 | |||||
VirnetX Holding Corp.† | 325 | 6,497 | ||||||
Vocus, Inc.† | 236 | 2,483 | ||||||
|
| |||||||
19,006 | ||||||||
|
| |||||||
Internet Connectivity Services — 0.0% |
| |||||||
Cogent Communications Group, Inc. | 400 | 11,260 | ||||||
|
| |||||||
Internet Content-Entertainment — 0.0% |
| |||||||
Facebook, Inc., Class A† | 585 | 14,543 | ||||||
|
| |||||||
Internet Content-Information/News — 0.0% |
| |||||||
Bankrate, Inc.† | 402 | 5,773 | ||||||
Dice Holdings, Inc.† | 620 | 5,710 | ||||||
HealthStream, Inc.† | 223 | 5,646 | ||||||
|
| |||||||
17,129 | ||||||||
|
| |||||||
Internet Infrastructure Software — 0.0% |
| |||||||
F5 Networks, Inc.† | 139 | 9,563 | ||||||
Responsys, Inc.† | 533 | 7,627 | ||||||
|
| |||||||
17,190 | ||||||||
|
| |||||||
Internet Security — 0.0% |
| |||||||
Sourcefire, Inc.† | 209 | 11,610 | ||||||
VeriSign, Inc.† | 260 | 11,612 | ||||||
Zix Corp.† | 2,192 | 9,272 | ||||||
|
| |||||||
32,494 | ||||||||
|
| |||||||
Internet Telephone — 0.0% |
| |||||||
BroadSoft, Inc.† | 219 | 6,044 | ||||||
|
| |||||||
Investment Companies — 0.1% |
| |||||||
Ares Capital Corp. | 8,090 | 139,148 | ||||||
|
| |||||||
Investment Management/Advisor Services — 0.9% |
| |||||||
Ameriprise Financial, Inc. | 2,050 | 165,804 | ||||||
BlackRock, Inc. | 4,087 | 1,049,746 | ||||||
Cohen & Steers, Inc. | 159 | 5,403 | ||||||
Financial Engines, Inc. | 399 | 18,191 | ||||||
Franklin Resources, Inc. | 4,205 | 571,964 | ||||||
GAMCO Investors, Inc., Class A | 186 | 10,306 | ||||||
T. Rowe Price Group, Inc. | 3,462 | 253,245 | ||||||
Virtus Investment Partners, Inc.† | 45 | 7,932 | ||||||
Westwood Holdings Group, Inc. | 212 | 9,099 | ||||||
|
| |||||||
2,091,690 | ||||||||
|
| |||||||
Lasers-System/Components — 0.0% |
| |||||||
Electro Scientific Industries, Inc. | 919 | 9,889 | ||||||
II-VI, Inc.† | 366 | 5,951 | ||||||
|
| |||||||
15,840 | ||||||||
|
| |||||||
Leisure Products — 0.0% |
| |||||||
Brunswick Corp. | 709 | 22,653 | ||||||
|
| |||||||
Lighting Products & Systems — 0.0% |
| |||||||
Acuity Brands, Inc. | 334 | 25,224 | ||||||
Universal Display Corp.† | 305 | 8,573 | ||||||
|
| |||||||
33,797 | ||||||||
|
| |||||||
Machine Tools & Related Products — 0.2% |
| |||||||
Lincoln Electric Holdings, Inc. | 7,330 | 419,789 | ||||||
|
| |||||||
Machinery-Construction & Mining — 0.1% |
| |||||||
Caterpillar, Inc. | 1,722 | 142,048 | ||||||
|
| |||||||
Machinery-Electrical — 0.0% |
| |||||||
Franklin Electric Co., Inc. | 356 | 11,979 | ||||||
|
|
Security Description | Shares | Value (Note 2) | ||||||
Machinery-Farming — 0.7% |
| |||||||
AG Growth International, Inc. | 13,400 | $ | 431,212 | |||||
AGCO Corp. | 1,425 | 71,521 | ||||||
Deere & Co. | 13,759 | 1,117,919 | ||||||
Lindsay Corp. | 125 | 9,372 | ||||||
|
| |||||||
1,630,024 | ||||||||
|
| |||||||
Machinery-General Industrial — 0.2% |
| |||||||
Altra Holdings, Inc. | 289 | 7,913 | ||||||
Applied Industrial Technologies, Inc. | 2,244 | 108,453 | ||||||
Chart Industries, Inc.† | 232 | 21,829 | ||||||
DXP Enterprises, Inc.† | 120 | 7,992 | ||||||
IDEX Corp. | 2,844 | 153,036 | ||||||
Middleby Corp.† | 158 | 26,874 | ||||||
Tennant Co. | 135 | 6,516 | ||||||
|
| |||||||
332,613 | ||||||||
|
| |||||||
Machinery-Pumps — 0.0% |
| |||||||
Flowserve Corp. | 369 | 19,930 | ||||||
Gorman-Rupp Co. | 219 | 6,973 | ||||||
|
| |||||||
26,903 | ||||||||
|
| |||||||
Medical Information Systems — 0.1% |
| |||||||
athenahealth, Inc.† | 276 | 23,383 | ||||||
Cerner Corp.† | 180 | 17,296 | ||||||
Computer Programs & Systems, Inc. | 2,328 | 114,398 | ||||||
Medidata Solutions, Inc.† | 182 | 14,096 | ||||||
Quality Systems, Inc. | 349 | 6,530 | ||||||
|
| |||||||
175,703 | ||||||||
|
| |||||||
Medical Instruments — 0.5% | ||||||||
Abaxis, Inc. | 173 | 8,219 | ||||||
ArthroCare Corp.† | 190 | 6,561 | ||||||
DexCom, Inc.† | 610 | 13,695 | ||||||
Edwards Lifesciences Corp.† | 3,336 | 224,179 | ||||||
Endologix, Inc.† | 563 | 7,477 | ||||||
Genomic Health, Inc.† | 164 | 5,200 | ||||||
Integra LifeSciences Holdings Corp.† | 89 | 3,260 | ||||||
Intuitive Surgical, Inc.† | 46 | 23,303 | ||||||
MAKO Surgical Corp.† | 365 | 4,398 | ||||||
Medtronic, Inc. | 12,708 | 654,081 | ||||||
Spectranetics Corp.† | 486 | 9,078 | ||||||
St Jude Medical, Inc. | 388 | 17,704 | ||||||
Techne Corp. | 1,858 | 128,351 | ||||||
Vascular Solutions, Inc.† | 603 | 8,870 | ||||||
Volcano Corp.† | 390 | 7,071 | ||||||
|
| |||||||
1,121,447 | ||||||||
|
| |||||||
Medical Labs & Testing Services — 0.1% |
| |||||||
Bio-Reference Labs, Inc.† | 204 | 5,865 | ||||||
Covance, Inc.† | 1,300 | 98,982 | ||||||
Laboratory Corp. of America Holdings† | 148 | 14,815 | ||||||
|
| |||||||
119,662 | ||||||||
|
| |||||||
Medical Products — 0.9% |
| |||||||
ABIOMED, Inc.† | 351 | 7,568 | ||||||
Accuray, Inc.† | 1,148 | 6,589 | ||||||
Atrion Corp. | 33 | 7,217 | ||||||
Baxter International, Inc. | 546 | 37,821 | ||||||
Becton, Dickinson and Co. | 5,921 | 585,172 | ||||||
Cantel Medical Corp. | 222 | 7,519 | ||||||
Covidien PLC | 8,100 | 509,004 | ||||||
Cyberonics, Inc.† | 191 | 9,924 | ||||||
Haemonetics Corp.† | 306 | 12,653 |
| ||
22 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Medical Products (continued) |
| |||||||
Luminex Corp.† | 416 | $ | 8,574 | |||||
NxStage Medical, Inc.† | 524 | 7,483 | ||||||
Orthofix International NV† | 130 | 3,497 | ||||||
Sonova Holding AG ADR | 8,900 | 188,591 | ||||||
Stryker Corp. | 354 | 22,897 | ||||||
Teleflex, Inc. | 5,506 | 426,660 | ||||||
Varian Medical Systems, Inc.† | 2,695 | 181,778 | ||||||
West Pharmaceutical Services, Inc. | 129 | 9,064 | ||||||
|
| |||||||
2,032,011 | ||||||||
|
| |||||||
Medical Sterilization Products — 0.0% |
| |||||||
STERIS Corp. | 276 | 11,835 | ||||||
|
| |||||||
Medical-Biomedical/Gene — 0.4% |
| |||||||
Acorda Therapeutics, Inc.† | 338 | 11,151 | ||||||
Aegerion Pharmaceuticals, Inc.† | 151 | 9,564 | ||||||
Affymax, Inc.† | 356 | 367 | ||||||
Alexion Pharmaceuticals, Inc.† | 209 | 19,278 | ||||||
Alnylam Pharmaceuticals, Inc.† | 422 | 13,086 | ||||||
AMAG Pharmaceuticals, Inc.† | 367 | 8,166 | ||||||
Amgen, Inc. | 716 | 70,640 | ||||||
Arena Pharmaceuticals, Inc.† | 1,289 | 9,925 | ||||||
Arqule, Inc.† | 1,442 | 3,345 | ||||||
Biogen Idec, Inc.† | 238 | 51,218 | ||||||
Celgene Corp.† | 453 | 52,960 | ||||||
Cubist Pharmaceuticals, Inc.† | 476 | 22,991 | ||||||
Curis, Inc.† | 1,183 | 3,774 | ||||||
Dendreon Corp.† | 1,524 | 6,279 | ||||||
Dynavax Technologies Corp.† | 1,652 | 1,817 | ||||||
Exact Sciences Corp.† | 701 | 9,751 | ||||||
Exelixis, Inc.† | 1,737 | 7,886 | ||||||
Gilead Sciences, Inc.† | 10,747 | 550,354 | ||||||
Halozyme Therapeutics, Inc.† | 950 | 7,543 | ||||||
ImmunoGen, Inc.† | 587 | 9,738 | ||||||
InterMune, Inc.† | 514 | 4,945 | ||||||
Ligand Pharmaceuticals, Inc., Class B† | 247 | 9,243 | ||||||
Medicines Co.† | 422 | 12,981 | ||||||
NPS Pharmaceuticals, Inc.† | 597 | 9,015 | ||||||
PDL BioPharma, Inc. | 891 | 6,878 | ||||||
Regeneron Pharmaceuticals, Inc.† | 77 | 17,316 | ||||||
Rigel Pharmaceuticals, Inc.† | 568 | 1,897 | ||||||
Seattle Genetics, Inc.† | 746 | 23,469 | ||||||
Spectrum Pharmaceuticals, Inc. | 563 | 4,200 | ||||||
Vertex Pharmaceuticals, Inc.† | 269 | 21,485 | ||||||
Vical, Inc.† | 1,495 | 4,679 | ||||||
ZIOPHARM Oncology, Inc.† | 1,049 | 2,203 | ||||||
|
| |||||||
988,144 | ||||||||
|
| |||||||
Medical-Drugs — 3.9% |
| |||||||
Abbott Laboratories | 20,719 | 722,679 | ||||||
AbbVie, Inc. | 21,466 | 887,404 | ||||||
Achillion Pharmaceuticals, Inc.† | 739 | 6,045 | ||||||
Akorn, Inc.† | 437 | 5,908 | ||||||
Alkermes PLC† | 927 | 26,586 | ||||||
Allergan, Inc. | 6,079 | 512,095 | ||||||
Auxilium Pharmaceuticals, Inc.† | 391 | 6,502 | ||||||
Bristol-Myers Squibb Co. | 10,652 | 476,038 | ||||||
Forest Laboratories, Inc.† | 1,709 | 70,069 | ||||||
Furiex Pharmaceuticals, Inc.† | 110 | 3,748 | ||||||
GlaxoSmithKline PLC ADR | 18,896 | 944,233 | ||||||
Idenix Pharmaceuticals, Inc.† | 772 | 2,787 | ||||||
Infinity Pharmaceuticals, Inc.† | 176 | 2,860 |
Security Description | Shares | Value (Note 2) | ||||||
Medical-Drugs (continued) |
| |||||||
Ironwood Pharmaceuticals, Inc.† | 661 | $ | 6,577 | |||||
Jazz Pharmaceuticals PLC† | 320 | 21,994 | ||||||
Johnson & Johnson | 11,524 | 989,451 | ||||||
Merck & Co., Inc. | 21,490 | 998,211 | ||||||
Novartis AG ADR | 16,115 | 1,139,492 | ||||||
Novo Nordisk A/S ADR | 800 | 123,976 | ||||||
Opko Health, Inc.† | 1,104 | 7,838 | ||||||
Optimer Pharmaceuticals, Inc.† | 559 | 8,089 | ||||||
Pfizer, Inc. | 35,313 | 989,117 | ||||||
Roche Holding AG ADR | 10,636 | 657,996 | ||||||
Santarus, Inc.† | 548 | 11,535 | ||||||
Sciclone Pharmaceuticals, Inc.† | 798 | 3,958 | ||||||
Vivus, Inc.† | 767 | 9,649 | ||||||
|
| |||||||
8,634,837 | ||||||||
|
| |||||||
Medical-Generic Drugs — 0.4% |
| |||||||
Actavis, Inc.† | 1,192 | 150,454 | ||||||
Impax Laboratories, Inc.† | 531 | 10,594 | ||||||
Mylan, Inc.† | 647 | 20,076 | ||||||
Perrigo Co. | 131 | 15,851 | ||||||
Teva Pharmaceutical Industries, Ltd. ADR | 18,781 | 736,215 | ||||||
|
| |||||||
933,190 | ||||||||
|
| |||||||
Medical-HMO — 0.0% |
| |||||||
Centene Corp.† | 398 | 20,879 | ||||||
Health Net, Inc.† | 219 | 6,969 | ||||||
WellCare Health Plans, Inc.† | 140 | 7,777 | ||||||
|
| |||||||
35,625 | ||||||||
|
| |||||||
Medical-Hospitals — 0.2% |
| |||||||
Acadia Healthcare Co., Inc.† | 284 | 9,392 | ||||||
Universal Health Services, Inc., Class B | 7,863 | 526,506 | ||||||
|
| |||||||
535,898 | ||||||||
|
| |||||||
Medical-Outpatient/Home Medical — 0.0% |
| |||||||
Air Methods Corp. | 282 | 9,554 | ||||||
|
| |||||||
Medical-Wholesale Drug Distribution — 0.3% |
| |||||||
AmerisourceBergen Corp. | 423 | 23,616 | ||||||
McKesson Corp. | 4,973 | 569,409 | ||||||
|
| |||||||
593,025 | ||||||||
|
| |||||||
Metal Processors & Fabrication — 0.2% |
| |||||||
Haynes International, Inc. | 130 | 6,223 | ||||||
Precision Castparts Corp. | 1,554 | 351,219 | ||||||
RBC Bearings, Inc.† | 148 | 7,689 | ||||||
Sun Hydraulics Corp. | 201 | 6,287 | ||||||
|
| |||||||
371,418 | ||||||||
|
| |||||||
Metal-Copper — 0.1% |
| |||||||
Freeport-McMoRan Copper & Gold, Inc. | 6,969 | 192,414 | ||||||
|
| |||||||
Miscellaneous Manufacturing — 0.1% |
| |||||||
Aptargroup, Inc. | 3,400 | 187,714 | ||||||
Hillenbrand, Inc. | 390 | 9,247 | ||||||
John Bean Technologies Corp. | 401 | 8,425 | ||||||
Trimas Corp.† | 281 | 10,476 | ||||||
|
| |||||||
215,862 | ||||||||
|
| |||||||
Motion Pictures & Services — 0.0% |
| |||||||
Lions Gate Entertainment Corp.† | 695 | 19,092 | ||||||
|
| |||||||
Motorcycle/Motor Scooter — 0.1% |
| |||||||
Harley-Davidson, Inc. | 2,483 | 136,118 | ||||||
|
|
| ||
23 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
MRI/Medical Diagnostic Imaging — 0.0% |
| |||||||
CML HealthCare, Inc. | 295 | $ | 2,962 | |||||
|
| |||||||
Multimedia — 0.7% |
| |||||||
News Corp., Class A†. | 775 | 25,265 | ||||||
Viacom, Inc., Class B | 6,211 | 422,659 | ||||||
Walt Disney Co. | 16,001 | 1,010,463 | ||||||
|
| |||||||
1,458,387 | ||||||||
|
| |||||||
Networking Products — 0.2% |
| |||||||
Anixter International, Inc.† | 133 | 10,083 | ||||||
Cisco Systems, Inc. | 11,147 | 270,983 | ||||||
Infinera Corp.† | 1,219 | 13,007 | ||||||
Ixia† | 389 | 7,157 | ||||||
LogMeIn, Inc.† | 239 | 5,846 | ||||||
NETGEAR, Inc.† | 137 | 4,184 | ||||||
Polycom, Inc.† | 7,533 | 79,398 | ||||||
Procera Networks, Inc.† | 260 | 3,570 | ||||||
|
| |||||||
394,228 | ||||||||
|
| |||||||
Non-Ferrous Metals — 0.3% |
| |||||||
Cameco Corp. | 35,200 | 727,232 | ||||||
|
| |||||||
Non-Hazardous Waste Disposal — 0.2% |
| |||||||
Republic Services, Inc. | 8,245 | 279,835 | ||||||
Waste Connections, Inc. | 5,704 | 234,663 | ||||||
|
| |||||||
514,498 | ||||||||
|
| |||||||
Office Furnishings-Original — 0.1% |
| |||||||
Herman Miller, Inc. | 427 | 11,559 | ||||||
HNI Corp. | 7,729 | 278,785 | ||||||
Interface, Inc. | 501 | 8,502 | ||||||
Knoll, Inc. | 304 | 4,320 | ||||||
|
| |||||||
303,166 | ||||||||
|
| |||||||
Office Supplies & Forms — 0.0% |
| |||||||
ACCO Brands Corp.† | 571 | 3,632 | ||||||
|
| |||||||
Oil & Gas Drilling — 0.2% |
| |||||||
Ensco PLC, Class A | 4,700 | 273,164 | ||||||
Nabors Industries, Ltd. | 4,471 | 68,451 | ||||||
|
| |||||||
341,615 | ||||||||
|
| |||||||
Oil Companies-Exploration & Production — 2.0% |
| |||||||
Abraxas Petroleum Corp.† | 1,697 | 3,564 | ||||||
Apache Corp. | 6,445 | 540,284 | ||||||
Approach Resources, Inc.† | 250 | 6,143 | ||||||
BreitBurn Energy Partners LP | 5,253 | 95,867 | ||||||
Cabot Oil & Gas Corp. | 309 | 21,945 | ||||||
Carrizo Oil & Gas, Inc.† | 326 | 9,236 | ||||||
Cimarex Energy Co. | 3,500 | 227,465 | ||||||
CNOOC, Ltd. ADR | 505 | 84,577 | ||||||
Concho Resources, Inc.† | 158 | 13,228 | ||||||
Contango Oil & Gas Co. | 100 | 3,375 | ||||||
Crescent Point Energy Corp. | 7,966 | 270,179 | ||||||
Devon Energy Corp. | 5,386 | 279,426 | ||||||
Encana Corp. | 17,959 | 304,225 | ||||||
Energen Corp. | 3,450 | 180,297 | ||||||
Energy XXI Bermuda, Ltd. | 464 | 10,292 | ||||||
EOG Resources, Inc. | 297 | 39,109 | ||||||
FX Energy, Inc.† | 915 | 2,937 | ||||||
Goodrich Petroleum Corp.† | 381 | 4,877 | ||||||
Gulfport Energy Corp.† | 161 | 7,578 | ||||||
Halcon Resources Corp.† | 1,007 | 5,710 |
Security Description | Shares | Value (Note 2) | ||||||
Oil Companies-Exploration & Production (continued) |
| |||||||
Isramco, Inc.† | 49 | $ | 4,566 | |||||
Kodiak Oil & Gas Corp.† | 2,049 | 18,216 | ||||||
Northern Oil and Gas, Inc.† | 513 | 6,843 | ||||||
Oasis Petroleum, Inc.† | 624 | 24,255 | ||||||
Occidental Petroleum Corp. | 15,102 | 1,347,551 | ||||||
Pengrowth Energy Corp. | 29,366 | 144,359 | ||||||
Penn West Petroleum, Ltd. | 48,352 | 511,564 | ||||||
Pioneer Natural Resources Co. | 156 | 22,581 | ||||||
Range Resources Corp. | 218 | 16,856 | ||||||
Rosetta Resources, Inc.† | 422 | 17,943 | ||||||
Vaalco Energy, Inc.† | 682 | 3,901 | ||||||
Vermilion Energy, Inc. | 2,274 | 111,159 | ||||||
Zargon Oil & Gas, Ltd. | 8,567 | 51,563 | ||||||
|
| |||||||
4,391,671 | ||||||||
|
| |||||||
Oil Companies-Integrated — 2.7% |
| |||||||
Chevron Corp. | 15,701 | 1,858,056 | ||||||
Exxon Mobil Corp. | 16,398 | 1,481,559 | ||||||
Marathon Oil Corp. | 14,885 | 514,723 | ||||||
Royal Dutch Shell PLC ADR | 18,825 | 1,247,533 | ||||||
Total SA ADR | 16,482 | 802,674 | ||||||
|
| |||||||
5,904,545 | ||||||||
|
| |||||||
Oil Field Machinery & Equipment — 0.1% |
| |||||||
Cameron International Corp.† | 327 | 19,999 | ||||||
Dril-Quip, Inc.† | 301 | 27,177 | ||||||
Flotek Industries, Inc.† | 522 | 9,365 | ||||||
FMC Technologies, Inc.† | 337 | 18,764 | ||||||
Lufkin Industries, Inc. | 280 | 24,772 | ||||||
Natural Gas Services Group, Inc.† | 5,638 | 132,437 | ||||||
|
| |||||||
232,514 | ||||||||
|
| |||||||
Oil Refining & Marketing — 0.6% |
| |||||||
Calumet Specialty Products Partners LP | 2,978 | 108,340 | ||||||
CVR Energy, Inc. | 79 | 3,745 | ||||||
HollyFrontier Corp. | 9,345 | 399,779 | ||||||
Marathon Petroleum Corp. | 9,446 | 671,233 | ||||||
Suburban Propane Partners LP | 2,450 | 113,802 | ||||||
Western Refining, Inc. | 231 | 6,484 | ||||||
|
| |||||||
1,303,383 | ||||||||
|
| |||||||
Oil-Field Services — 0.1% |
| |||||||
Halliburton Co. | 561 | 23,405 | ||||||
Schlumberger, Ltd. | 3,342 | 239,488 | ||||||
Targa Resources Corp. | 270 | 17,369 | ||||||
|
| |||||||
280,262 | ||||||||
|
| |||||||
Paper & Related Products — 0.0% |
| |||||||
Buckeye Technologies, Inc. | 200 | 7,408 | ||||||
Clearwater Paper Corp.† | 182 | 8,565 | ||||||
Wausau Paper Corp. | 694 | 7,911 | ||||||
|
| |||||||
23,884 | ||||||||
|
| |||||||
Patient Monitoring Equipment — 0.0% |
| |||||||
Insulet Corp.† | 419 | 13,161 | ||||||
Masimo Corp. | 422 | 8,946 | ||||||
|
| |||||||
22,107 | ||||||||
|
| |||||||
Pharmacy Services — 0.0% |
| |||||||
Catamaran Corp.† | 260 | 12,667 | ||||||
Express Scripts Holding Co.† | 782 | 48,242 | ||||||
|
| |||||||
60,909 | ||||||||
|
|
| ||
24 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Physical Therapy/Rehabilitation Centers — 0.0% |
| |||||||
U.S. Physical Therapy, Inc. | 196 | $ | 5,417 | |||||
|
| |||||||
Physicians Practice Management — 0.0% |
| |||||||
IPC The Hospitalist Co., Inc.† | 134 | 6,882 | ||||||
|
| |||||||
Pipelines — 1.0% |
| |||||||
Atlas Pipeline Partners LP | 4,090 | 156,197 | ||||||
Crosstex Energy, Inc. | 545 | 10,769 | ||||||
Enterprise Products Partners LP | 12,038 | 748,162 | ||||||
Kinder Morgan Energy Partners LP | 6,409 | 547,329 | ||||||
Kinder Morgan, Inc. | 18,892 | 720,730 | ||||||
ONEOK, Inc. | 653 | 26,975 | ||||||
Williams Cos., Inc. | 711 | 23,086 | ||||||
|
| |||||||
2,233,248 | ||||||||
|
| |||||||
Poultry — 0.0% |
| |||||||
Sanderson Farms, Inc. | 230 | 15,277 | ||||||
|
| |||||||
Power Converter/Supply Equipment — 0.1% |
| |||||||
Capstone Turbine Corp.† | 4,929 | 5,767 | ||||||
Hubbell, Inc., Class B | 1,356 | 134,244 | ||||||
|
| |||||||
140,011 | ||||||||
|
| |||||||
Precious Metals — 0.0% |
| |||||||
Coeur Mining, Inc.† | 251 | 3,338 | ||||||
Paramount Gold and Silver Corp.† | 2,192 | 2,609 | ||||||
|
| |||||||
5,947 | ||||||||
|
| |||||||
Printing-Commercial — 0.0% |
| |||||||
Deluxe Corp. | 258 | 8,940 | ||||||
Valassis Communications, Inc. | 235 | 5,778 | ||||||
VistaPrint NV† | 321 | 15,848 | ||||||
|
| |||||||
30,566 | ||||||||
|
| |||||||
Private Equity — 0.1% |
| |||||||
KKR & Co. LP | 9,300 | 182,838 | ||||||
|
| |||||||
Protection/Safety — 0.0% |
| |||||||
Landauer, Inc. | 1,409 | 68,069 | ||||||
|
| |||||||
Radio — 0.0% |
| |||||||
Sirius XM Radio, Inc. | 7,105 | 23,802 | ||||||
|
| |||||||
Real Estate Investment Trusts — 2.7% |
| |||||||
Acadia Realty Trust | 475 | 11,728 | ||||||
Agree Realty Corp. | 3,014 | 88,973 | ||||||
Alexander’s, Inc. | 44 | 12,923 | ||||||
Alexandria Real Estate Equities, Inc. | 7,377 | 484,816 | ||||||
American Capital Agency Corp. | 33,956 | 780,648 | ||||||
American Tower Corp. | 398 | 29,122 | ||||||
Annaly Capital Management, Inc. | 42,873 | 538,914 | ||||||
Apartment Investment & Management Co., Class A | 486 | 14,599 | ||||||
CapLease, Inc. | 10,462 | 88,299 | ||||||
Capstead Mortgage Corp. | 10,677 | 129,192 | ||||||
Colony Financial, Inc. | 4,818 | 95,830 | ||||||
CYS Investments, Inc. | 16,354 | 150,620 | ||||||
Digital Realty Trust, Inc. | 22,576 | 1,377,136 | ||||||
DuPont Fabros Technology, Inc. | 285 | 6,883 | ||||||
EastGroup Properties, Inc. | 873 | 49,124 | ||||||
EPR Properties | 2,221 | 111,650 | ||||||
Essex Property Trust, Inc. | 1,151 | 182,917 | ||||||
Extra Space Storage, Inc. | 487 | 20,420 | ||||||
FelCor Lodging Trust, Inc.† | 1,399 | 8,268 | ||||||
Glimcher Realty Trust | 1,084 | 11,837 |
Security Description | Shares | Value (Note 2) | ||||||
Real Estate Investment Trusts (continued) |
| |||||||
Gyrodyne Co. of America, Inc. | 51 | $ | 3,646 | |||||
Hatteras Financial Corp. | 3,807 | 93,804 | ||||||
HCP, Inc. | 8,086 | 367,428 | ||||||
Highwoods Properties, Inc. | 363 | 12,926 | ||||||
Kilroy Realty Corp. | 317 | 16,804 | ||||||
Medical Properties Trust, Inc. | 3,661 | 52,426 | ||||||
Omega Healthcare Investors, Inc. | 5,894 | 182,832 | ||||||
Plum Creek Timber Co., Inc. | 2,425 | 113,175 | ||||||
Potlatch Corp. | 204 | 8,250 | ||||||
PS Business Parks, Inc. | 98 | 7,073 | ||||||
Regency Centers Corp. | 364 | 18,495 | ||||||
Ryman Hospitality Properties, Inc | 172 | 6,710 | ||||||
Sabra Health Care REIT, Inc. | 2,275 | 59,400 | ||||||
Simon Property Group, Inc. | 234 | 36,953 | ||||||
Sovran Self Storage, Inc. | 204 | 13,217 | ||||||
Strategic Hotels & Resorts, Inc.† | 1,819 | 16,116 | ||||||
Sun Communities, Inc. | 222 | 11,047 | ||||||
Tanger Factory Outlet Centers | 9,534 | 319,008 | ||||||
UMH Properties, Inc. | 969 | 9,952 | ||||||
Ventas, Inc. | 1,463 | 101,620 | ||||||
Washington Real Estate Investment Trust | 161 | 4,332 | ||||||
Weyerhaeuser Co. | 12,675 | 361,111 | ||||||
|
| |||||||
6,010,224 | ||||||||
|
| |||||||
Real Estate Management/Services — 0.0% |
| |||||||
HFF, Inc., Class A | 303 | 5,384 | ||||||
|
| |||||||
Real Estate Operations & Development — 0.1% |
| |||||||
Gafisa SA ADR† | 57,600 | 144,576 | ||||||
|
| |||||||
Recreational Centers — 0.0% |
| |||||||
Life Time Fitness, Inc.† | 313 | 15,684 | ||||||
|
| |||||||
Recreational Vehicles — 0.0% |
| |||||||
Arctic Cat, Inc. | 135 | 6,072 | ||||||
|
| |||||||
Rental Auto/Equipment — 0.3% |
| |||||||
Aaron’s, Inc. | 9,802 | 274,554 | ||||||
Avis Budget Group, Inc.† | 835 | 24,006 | ||||||
Hertz Global Holdings, Inc.† | 13,464 | 333,907 | ||||||
McGrath RentCorp | 3,546 | 121,132 | ||||||
|
| |||||||
753,599 | ||||||||
|
| |||||||
Research & Development — 0.0% |
| |||||||
AVEO Pharmaceuticals, Inc.† | 516 | 1,290 | ||||||
PAREXEL International Corp.† | 453 | 20,811 | ||||||
|
| |||||||
22,101 | ||||||||
|
| |||||||
Resorts/Theme Parks — 0.0% |
| |||||||
Six Flags Entertainment Corp. | 538 | 18,916 | ||||||
Vail Resorts, Inc. | 80 | 4,922 | ||||||
|
| |||||||
23,838 | ||||||||
|
| |||||||
Respiratory Products — 0.0% |
| |||||||
ResMed, Inc. | 367 | 16,563 | ||||||
|
| |||||||
Retail-Apparel/Shoe — 0.1% |
| |||||||
Aeropostale, Inc.† | 654 | 9,025 | ||||||
ANN, Inc.† | 382 | 12,683 | ||||||
Buckle, Inc. | 221 | 11,497 | ||||||
Cato Corp., Class A | 295 | 7,363 | ||||||
Express, Inc.† | 764 | 16,021 | ||||||
Francesca’s Holdings Corp.† | 265 | 7,364 | ||||||
Gap, Inc. | 404 | 16,859 | ||||||
Genesco, Inc.† | 187 | 12,527 | ||||||
Guess?, Inc. | 2,459 | 76,303 |
| ||
25 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Retail-Apparel/Shoe (continued) |
| |||||||
Jos. A. Bank Clothiers, Inc.† | 187 | $ | 7,727 | |||||
L Brands, Inc. | 344 | 16,942 | ||||||
PVH Corp. | 140 | 17,507 | ||||||
Ross Stores, Inc. | 251 | 16,267 | ||||||
rue21, Inc.† | 255 | 10,611 | ||||||
Vera Bradley, Inc.† | 196 | 4,245 | ||||||
|
| |||||||
242,941 | ||||||||
|
| |||||||
Retail-Auto Parts — 0.0% |
| |||||||
AutoZone, Inc.† | 47 | 19,914 | ||||||
O’Reilly Automotive, Inc.† | 186 | 20,947 | ||||||
|
| |||||||
40,861 | ||||||||
|
| |||||||
Retail-Automobile — 0.1% |
| |||||||
Asbury Automotive Group, Inc.† | 271 | 10,867 | ||||||
Copart, Inc.† | 8,613 | 265,280 | ||||||
|
| |||||||
276,147 | ||||||||
|
| |||||||
Retail-Bedding — 0.0% |
| |||||||
Bed Bath & Beyond, Inc.† | 300 | 21,270 | ||||||
|
| |||||||
Retail-Building Products — 0.2% |
| |||||||
Home Depot, Inc. | 5,072 | 392,928 | ||||||
Lumber Liquidators Holdings, Inc.† | 215 | 16,742 | ||||||
|
| |||||||
409,670 | ||||||||
|
| |||||||
Retail-Convenience Store — 0.0% |
| |||||||
Casey’s General Stores, Inc. | 246 | 14,799 | ||||||
|
| |||||||
Retail-Discount — 0.5% |
| |||||||
Costco Wholesale Corp. | 9,346 | 1,033,387 | ||||||
Dollar Tree, Inc.† | 353 | 17,947 | ||||||
HSN, Inc. | 276 | 14,827 | ||||||
Wal-Mart Stores, Inc. | 1,127 | 83,950 | ||||||
|
| |||||||
1,150,111 | ||||||||
|
| |||||||
Retail-Drug Store — 0.1% |
| |||||||
CVS Caremark Corp. | 4,000 | 228,720 | ||||||
|
| |||||||
Retail-Home Furnishings — 0.0% |
| |||||||
Pier 1 Imports, Inc. | 741 | 17,406 | ||||||
|
| |||||||
Retail-Jewelry — 0.3% |
| |||||||
Tiffany & Co. | 10,315 | 751,345 | ||||||
|
| |||||||
Retail-Major Department Stores — 0.3% |
| |||||||
Nordstrom, Inc. | 9,200 | 551,448 | ||||||
TJX Cos., Inc. | 701 | 35,092 | ||||||
|
| |||||||
586,540 | ||||||||
|
| |||||||
Retail-Misc./Diversified — 0.0% |
| |||||||
Pricesmart, Inc. | 139 | 12,181 | ||||||
|
| |||||||
Retail-Pawn Shops — 0.0% |
| |||||||
Ezcorp, Inc., Class A† | 256 | 4,321 | ||||||
First Cash Financial Services, Inc.† | 223 | 10,974 | ||||||
|
| |||||||
15,295 | ||||||||
|
| |||||||
Retail-Pet Food & Supplies — 0.0% |
| |||||||
PetSmart, Inc. | 212 | 14,202 | ||||||
|
| |||||||
Retail-Restaurants — 0.7% |
| |||||||
AFC Enterprises, Inc.† | 253 | 9,093 | ||||||
Biglari Holdings, Inc.† | 20 | 8,208 | ||||||
BJ’s Restaurants, Inc.† | 203 | 7,531 | ||||||
Bravo Brio Restaurant Group, Inc.† | 350 | 6,237 |
Security Description | Shares | Value (Note 2) | ||||||
Retail-Restaurants (continued) |
| |||||||
Buffalo Wild Wings, Inc.† | 128 | $ | 12,564 | |||||
CEC Entertainment, Inc. | 249 | 10,219 | ||||||
Cheesecake Factory, Inc. | 395 | 16,547 | ||||||
Chipotle Mexican Grill, Inc.† | 155 | 56,474 | ||||||
Cracker Barrel Old Country Store, Inc. | 129 | 12,211 | ||||||
DineEquity, Inc. | 151 | 10,399 | ||||||
Domino’s Pizza, Inc. | 412 | 23,958 | ||||||
Jack in the Box, Inc.† | 308 | 12,101 | ||||||
McDonald’s Corp. | 5,948 | 588,852 | ||||||
Papa John’s International, Inc.† | 153 | 10,002 | ||||||
Sonic Corp.† | 528 | 7,688 | ||||||
Starbucks Corp. | 10,369 | 679,066 | ||||||
Texas Roadhouse, Inc. | 494 | 12,360 | ||||||
Yum! Brands, Inc. | 490 | 33,977 | ||||||
|
| |||||||
1,517,487 | ||||||||
|
| |||||||
Retail-Sporting Goods — 0.0% |
| |||||||
Cabela’s, Inc.† | 303 | 19,622 | ||||||
Hibbett Sports, Inc.† | 176 | 9,768 | ||||||
Zumiez, Inc.† | 178 | 5,118 | ||||||
|
| |||||||
34,508 | ||||||||
|
| |||||||
Retail-Vitamins & Nutrition Supplements — 0.0% |
| |||||||
Vitamin Shoppe, Inc.† | 205 | 9,192 | ||||||
|
| |||||||
Retirement/Aged Care — 0.0% |
| |||||||
Emeritus Corp.† | 339 | 7,858 | ||||||
|
| |||||||
Rubber-Tires — 0.3% |
| |||||||
Bridgestone Corp. ADR | 9,300 | 637,050 | ||||||
Cooper Tire & Rubber Co. | 441 | 14,628 | ||||||
|
| |||||||
651,678 | ||||||||
|
| |||||||
Rubber/Plastic Products — 0.0% |
| |||||||
Myers Industries, Inc. | 443 | 6,649 | ||||||
|
| |||||||
Satellite Telecom — 0.1% |
| |||||||
DigitalGlobe, Inc.† | 249 | 7,722 | ||||||
Inmarsat PLC ADR | 28,500 | 289,845 | ||||||
Loral Space & Communications, Inc. | 94 | 5,638 | ||||||
|
| |||||||
303,205 | ||||||||
|
| |||||||
Savings & Loans/Thrifts — 0.2% |
| |||||||
Washington Federal, Inc. | 28,556 | 539,137 | ||||||
|
| |||||||
Schools — 0.0% |
| |||||||
American Public Education, Inc.† | 219 | 8,138 | ||||||
Capella Education Co.† | 193 | 8,039 | ||||||
Grand Canyon Education, Inc.† | 354 | 11,409 | ||||||
K12, Inc.† | 307 | 8,065 | ||||||
Strayer Education, Inc. | 98 | 4,785 | ||||||
|
| |||||||
40,436 | ||||||||
|
| |||||||
Security Services — 0.2% |
| |||||||
Brink’s Co. | 350 | 8,928 | ||||||
Secom Co., Ltd. ADR | 36,800 | 503,056 | ||||||
|
| |||||||
511,984 | ||||||||
|
| |||||||
Seismic Data Collection — 0.0% |
| |||||||
Geospace Technologies Corp.† | 126 | 8,704 | ||||||
ION Geophysical Corp.† | 1,115 | 6,712 | ||||||
|
| |||||||
15,416 | ||||||||
|
| |||||||
Semiconductor Components-Integrated Circuits — 0.6% |
| |||||||
Cirrus Logic, Inc.† | 481 | 8,350 | ||||||
Cypress Semiconductor Corp. | 10,215 | 109,607 |
| ||
26 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Semiconductor Components-Integrated Circuits (continued) |
| |||||||
Hittite Microwave Corp.† | 221 | $ | 12,818 | |||||
Linear Technology Corp. | 550 | 20,262 | ||||||
Maxim Integrated Products, Inc. | 21,812 | 605,937 | ||||||
Micrel, Inc. | 622 | 6,145 | ||||||
Power Integrations, Inc. | 215 | 8,721 | ||||||
QUALCOMM, Inc. | 5,081 | 310,348 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 11,251 | 206,118 | ||||||
|
| |||||||
1,288,306 | ||||||||
|
| |||||||
Semiconductor Equipment — 0.4% |
| |||||||
Applied Materials, Inc. | 47,770 | 712,251 | ||||||
Cabot Microelectronics Corp.† | 208 | 6,866 | ||||||
Lam Research Corp.† | 4,629 | 205,250 | ||||||
MKS Instruments, Inc. | 1,360 | 36,094 | ||||||
Ultratech, Inc.† | 232 | 8,519 | ||||||
Veeco Instruments, Inc.† | 114 | 4,038 | ||||||
|
| |||||||
973,018 | ||||||||
|
| |||||||
Software Tools — 0.0% |
| |||||||
VMware, Inc., Class A† | 148 | 9,914 | ||||||
|
| |||||||
Steel-Producers — 0.2% |
| |||||||
Reliance Steel & Aluminum Co. | 4,225 | 276,991 | ||||||
Schnitzer Steel Industries, Inc., Class A | 6,950 | 162,491 | ||||||
|
| |||||||
439,482 | ||||||||
|
| |||||||
Telecom Equipment-Fiber Optics — 0.1% |
| |||||||
Ciena Corp.† | 625 | 12,137 | ||||||
Corning, Inc. | 13,425 | 191,038 | ||||||
|
| |||||||
203,175 | ||||||||
|
| |||||||
Telecom Services — 0.4% |
| |||||||
BCE, Inc. | 10,828 | 444,164 | ||||||
Consolidated Communications Holdings, Inc. | 10,802 | 188,063 | ||||||
Primus Telecommunications Group, Inc. | 451 | 5,385 | ||||||
Vivendi SA ADR | 7,200 | 136,080 | ||||||
|
| |||||||
773,692 | ||||||||
|
| |||||||
Telecommunication Equipment — 0.3% |
| |||||||
ADTRAN, Inc. | 429 | 10,558 | ||||||
Harris Corp. | 3,352 | 165,086 | ||||||
Kudelski SA(1) | 32,500 | 404,293 | ||||||
|
| |||||||
579,937 | ||||||||
|
| |||||||
Telephone-Integrated — 0.8% |
| |||||||
AT&T, Inc. | 15,731 | 556,877 | ||||||
CenturyLink, Inc. | 9,531 | 336,921 | ||||||
General Communication, Inc., Class A† | 580 | 4,541 | ||||||
Verizon Communications, Inc. | 14,340 | 721,876 | ||||||
Windstream Corp. | 16,919 | 130,446 | ||||||
|
| |||||||
1,750,661 | ||||||||
|
| |||||||
Television — 0.1% |
| |||||||
Sinclair Broadcast Group, Inc., Class A | 6,744 | 198,139 | ||||||
|
| |||||||
Therapeutics — 0.1% |
| |||||||
AVANIR Pharmaceuticals, Inc., Class A† | 1,553 | 7,144 | ||||||
BioMarin Pharmaceutical, Inc.† | 283 | 15,789 | ||||||
Isis Pharmaceuticals, Inc.† | 854 | 22,947 | ||||||
Neurocrine Biosciences, Inc.† | 942 | 12,604 | ||||||
Pharmacyclics, Inc.† | 438 | 34,808 | ||||||
Questcor Pharmaceuticals, Inc. | 394 | 17,911 |
Security Description | Shares | Value (Note 2) | ||||||
Therapeutics (continued) |
| |||||||
Synageva BioPharma Corp.† | 78 | $ | 3,276 | |||||
Theravance, Inc.† | 495 | 19,072 | ||||||
|
| |||||||
133,551 | ||||||||
|
| |||||||
Tobacco — 0.3% |
| |||||||
Altria Group, Inc. | 1,455 | 50,911 | ||||||
Imperial Tobacco Group PLC ADR | 5,600 | 390,264 | ||||||
Lorillard, Inc. | 471 | 20,573 | ||||||
Philip Morris International, Inc. | 1,374 | 119,016 | ||||||
|
| |||||||
580,764 | ||||||||
|
| |||||||
Tools-Hand Held — 0.1% |
| |||||||
Snap-on, Inc. | 1,676 | 149,801 | ||||||
|
| |||||||
Toys — 1.3% |
| |||||||
Hasbro, Inc. | 26,904 | 1,206,106 | ||||||
LeapFrog Enterprises, Inc.† | 595 | 5,855 | ||||||
Mattel, Inc. | 36,747 | 1,665,007 | ||||||
|
| |||||||
2,876,968 | ||||||||
|
| |||||||
Transactional Software — 0.0% |
| |||||||
ACI Worldwide, Inc.† | 275 | 12,782 | ||||||
InnerWorkings, Inc.† | 477 | 5,175 | ||||||
Synchronoss Technologies, Inc.† | 285 | 8,798 | ||||||
|
| |||||||
26,755 | ||||||||
|
| |||||||
Transport-Equipment & Leasing — 0.1% |
| |||||||
Greenbrier Cos., Inc.† | 5,548 | 135,205 | ||||||
TAL International Group, Inc. | 2,944 | 128,270 | ||||||
|
| |||||||
263,475 | ||||||||
|
| |||||||
Transport-Marine — 0.1% |
| |||||||
Kirby Corp.† | 1,200 | 95,448 | ||||||
Tidewater, Inc. | 2,300 | 131,031 | ||||||
|
| |||||||
226,479 | ||||||||
|
| |||||||
Transport-Rail — 0.6% |
| |||||||
CSX Corp. | 1,057 | 24,512 | ||||||
Genesee & Wyoming, Inc., Class A† | 314 | 26,640 | ||||||
Norfolk Southern Corp. | 5,346 | 388,387 | ||||||
Union Pacific Corp. | 5,277 | 814,135 | ||||||
|
| |||||||
1,253,674 | ||||||||
|
| |||||||
Transport-Services — 0.6% |
| |||||||
C.H. Robinson Worldwide, Inc. | 278 | 15,654 | ||||||
Expeditors International of Washington, Inc. | 10,600 | 402,906 | ||||||
Hub Group, Inc., Class A† | 296 | 10,780 | ||||||
TNT Express NV ADR | 33,400 | 251,669 | ||||||
United Parcel Service, Inc., Class B | 7,250 | 626,980 | ||||||
|
| |||||||
1,307,989 | ||||||||
|
| |||||||
Transport-Truck — 0.1% |
| |||||||
Celadon Group, Inc. | 392 | 7,154 | ||||||
Con-way, Inc. | 1,207 | 47,025 | ||||||
Forward Air Corp. | 272 | 10,412 | ||||||
Knight Transportation, Inc. | 470 | 7,905 | ||||||
Old Dominion Freight Line, Inc.† | 517 | 21,518 | ||||||
Swift Transportation Co.† | 919 | 15,200 | ||||||
Werner Enterprises, Inc. | 227 | 5,487 | ||||||
|
| |||||||
114,701 | ||||||||
|
| |||||||
Travel Services — 0.0% |
| |||||||
Ambassadors Group, Inc. | 3,945 | 14,005 | ||||||
Interval Leisure Group, Inc. | 315 | 6,275 | ||||||
|
| |||||||
20,280 | ||||||||
|
|
| ||
27 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares/ Principal Amount | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Venture Capital — 0.1% |
| |||||||
Hercules Technology Growth Capital, Inc. | 11,585 | $ | 161,495 | |||||
|
| |||||||
Veterinary Diagnostics — 0.1% |
| |||||||
Neogen Corp.† | 185 | 10,278 | ||||||
VCA Antech, Inc.† | 4,287 | 111,848 | ||||||
|
| |||||||
122,126 | ||||||||
|
| |||||||
Virtual Reality Products — 0.0% |
| |||||||
RealD, Inc.† | 469 | 6,519 | ||||||
|
| |||||||
Vitamins & Nutrition Products — 0.0% |
| |||||||
Mead Johnson Nutrition Co. | 232 | 18,381 | ||||||
Star Scientific, Inc.† | 1,744 | 2,424 | ||||||
|
| |||||||
20,805 | ||||||||
|
| |||||||
Water — 0.1% |
| |||||||
California Water Service Group | 4,100 | 79,991 | ||||||
Connecticut Water Service, Inc. | 305 | 8,754 | ||||||
York Water Co. | 845 | 16,080 | ||||||
|
| |||||||
104,825 | ||||||||
|
| |||||||
Water Treatment Systems — 0.0% |
| |||||||
Energy Recovery, Inc.† | 2,409 | 9,949 | ||||||
|
| |||||||
Web Hosting/Design — 0.0% |
| |||||||
Equinix, Inc.† | 66 | 12,191 | ||||||
NIC, Inc. | 586 | 9,687 | ||||||
Web.com Group, Inc.† | 382 | 9,779 | ||||||
|
| |||||||
31,657 | ||||||||
|
| |||||||
Web Portals/ISP — 0.4% |
| |||||||
Google, Inc., Class A† | 991 | 872,447 | ||||||
|
| |||||||
Wire & Cable Products — 0.0% |
| |||||||
Belden, Inc. | 336 | 16,776 | ||||||
|
| |||||||
Wireless Equipment — 0.1% |
| |||||||
Aruba Networks, Inc.† | 898 | 13,793 | ||||||
Crown Castle International Corp.† | 314 | 22,731 | ||||||
InterDigital, Inc. | 332 | 14,824 | ||||||
Motorola Solutions, Inc. | 360 | 20,783 | ||||||
SBA Communications Corp., Class A† | 178 | 13,193 | ||||||
ViaSat, Inc.† | 278 | 19,866 | ||||||
|
| |||||||
105,190 | ||||||||
|
| |||||||
Total Common Stock | 139,921,229 | |||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 1.6% |
| |||||||
iShares MSCI Emerging Markets | 90,200 | 3,479,014 | ||||||
|
| |||||||
PREFERRED STOCK — 0.1% | ||||||||
Brewery — 0.1% | ||||||||
Cia de Bebidas das Americas ADR | 6,075 | 226,901 | ||||||
|
| |||||||
ASSET BACKED SECURITIES — 4.8% |
| |||||||
Diversified Financial Services — 4.8% |
| |||||||
ACE Securities Corp. FRS | $ | 455,416 | 440,573 | |||||
ACE Securities Corp. Mtg. Loan Trust | 200,000 | 198,831 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Diversified Financial Services (continued) |
| |||||||
ACE Securities Corp. Mtg. Loan Trust | $ | 186,125 | $ | 187,098 | ||||
American Credit Acceptance Receivables Trust | 229,322 | 229,002 | ||||||
Banc of America Commercial Mtg., Inc. VRS | 300,000 | 324,562 | ||||||
Bear Stearns Asset Backed Securities Trust | 367,388 | 374,882 | ||||||
Capital Auto Receivables Asset Trust | 250,000 | 249,568 | ||||||
Citigroup Mtg. Loan Trust, Inc. VRS | 32,305 | 31,463 | ||||||
Citigroup Mtg. Loan Trust, Inc. FRS | 400,000 | 341,752 | ||||||
Citigroup Mtg. Loan Trust, Inc. | 298,391 | 299,254 | ||||||
Citigroup Mtg. Loan Trust, Inc. | 122,967 | 126,078 | ||||||
Citigroup/Deutsche Bank Commercial | 300,000 | 320,849 | ||||||
Countrywide Home Loan Mtg. Pass | 10,917 | 11,124 | ||||||
CPS Auto Trust | 250,000 | 249,269 | ||||||
Credit Suisse First Boston Mtg. | 16,470 | 16,071 | ||||||
Credit Suisse Mtg. Capital Certs. | 227,294 | 233,948 | ||||||
CSMC Trust VRS | 198,168 | 191,585 | ||||||
First Franklin Mtg. Loan Trust FRS | 69,750 | 69,673 | ||||||
First Horizon Alternative Mtg. | 200,000 | 190,095 | ||||||
GS Mtg. Securities Trust VRS | 300,000 | 326,356 | ||||||
Jefferies Resecuritization Trust VRS | 262,479 | 264,521 |
| ||
28 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
ASSET BACKED SECURITIES (continued) |
| |||||||
Diversified Financial Services (continued) |
| |||||||
Jefferies Resecuritization Trust | $ | 236,271 | $ | 239,659 | ||||
JPMorgan Chase Commercial Mtg. | 300,000 | 277,943 | ||||||
JP Morgan Chase Commercial Mtg. | 340,000 | 376,701 | ||||||
LB-UBS Commercial Mtg. Trust VRS | 300,000 | 314,647 | ||||||
Morgan Stanley Capital I Trust VRS | 300,000 | 309,127 | ||||||
Morgan Stanley Capital I Trust VRS | 340,000 | 356,260 | ||||||
Morgan Stanley Capital I Trust VRS | 400,000 | 388,195 | ||||||
Morgan Stanley Capital I Trust VRS | 400,000 | 438,382 | ||||||
Morgan Stanley Re-REMIC Trust FRS | 300,000 | 277,159 | ||||||
Morgan Stanley Re-REMIC Trust FRS | 200,000 | 199,198 | ||||||
Morgan Stanley Re-REMIC Trust | 308,288 | 309,603 | ||||||
New Century Home Equity Loan Trust FRS | 200,000 | 196,426 | ||||||
Residential Accredit Loans, Inc. | 113,807 | 116,177 | ||||||
Residential Asset Securities Corp. VRS | 83,304 | 85,746 | ||||||
Santander Drive Auto Receivables Trust | 250,000 | 249,862 | ||||||
Sequoia Mortgage Trust VRS | 247,998 | 247,587 | ||||||
SLM Private Credit Student Loan Trust FRS | 141,212 | 136,692 | ||||||
Soundview Home Equity Loan Trust FRS | 60,000 | 58,078 | ||||||
Springleaf Funding Trust | 250,000 | 249,375 | ||||||
Springleaf Funding Trust | 300,000 | 299,538 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Diversified Financial Services (continued) |
| |||||||
Springleaf Mtg. Loan Trust VRS | $ | 100,000 | $ | 100,173 | ||||
Wachovia Bank Commercial Mtg. | 300,000 | 326,629 | ||||||
Wells Fargo Home Equity Trust FRS | 15,785 | 15,092 | ||||||
WF-RBS Commercial Mtg. Trust | 350,000 | 367,660 | ||||||
|
| |||||||
Total Asset Backed Securities | 10,612,463 | |||||||
|
| |||||||
CONVERTIBLE BONDS & NOTES — 0.3% |
| |||||||
Auto/Truck Parts & Equipment. Original — 0.2% |
| |||||||
Meritor, Inc. | 500,000 | 607,812 | ||||||
|
| |||||||
Pharmacy Services — 0.1% |
| |||||||
Omnicare, Inc. | 149,000 | 153,470 | ||||||
|
| |||||||
Total Convertible Bonds & Notes | 761,282 | |||||||
|
| |||||||
U.S. CORPORATE BONDS & NOTES — 12.6% |
| |||||||
Aerospace/Defense — 0.2% |
| |||||||
Lockheed Martin Corp. | 500,000 | 436,559 | ||||||
|
| |||||||
Alternative Waste Technology — 0.2% |
| |||||||
ADS Waste Holdings, Inc. | 500,000 | 510,000 | ||||||
|
| |||||||
Banks-Commercial — 0.2% |
| |||||||
KeyBank NA | 250,000 | 275,996 | ||||||
Wachovia Bank NA FRS | 250,000 | 250,076 | ||||||
|
| |||||||
526,072 | ||||||||
|
| |||||||
Banks-Super Regional — 0.5% |
| |||||||
JPMorgan Chase Bank NA | 250,000 | 284,773 | ||||||
PNC Financial Services Group, Inc. FRS | 250,000 | 271,250 | ||||||
US Bancorp | 250,000 | 242,732 | ||||||
Wells Fargo & Co. FRS | 250,000 | 282,500 | ||||||
|
| |||||||
1,081,255 | ||||||||
|
|
| ||
29 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. CORPORATE BONDS & NOTES (continued) |
| |||||||
Beverages-Non-alcoholic — 0.3% |
| |||||||
Innovation Ventures LLC/Innovation | $ | 750,000 | $ | 624,375 | ||||
|
| |||||||
Brewery — 0.1% |
| |||||||
Anheuser-Busch InBev Worldwide, Inc. | 250,000 | 233,400 | ||||||
|
| |||||||
Cable/Satellite TV — 0.2% |
| |||||||
Time Warner Cable, Inc. | 500,000 | 500,719 | ||||||
|
| |||||||
Casino Hotels — 0.1% |
| |||||||
Boyd Gaming Corp. | 250,000 | 260,625 | ||||||
|
| |||||||
Casino Services — 0.1% |
| |||||||
Peninsula Gaming LLC | 250,000 | 260,000 | ||||||
|
| |||||||
Commercial Services — 0.1% |
| |||||||
Ceridian Corp. | 250,000 | 253,438 | ||||||
|
| |||||||
Computers — 0.1% |
| |||||||
Apple, Inc. | 250,000 | 231,866 | ||||||
|
| |||||||
Containers-Paper/Plastic — 0.1% |
| |||||||
Sealed Air Corp. | 250,000 | 237,500 | ||||||
|
| |||||||
Diversified Banking Institutions — 1.1% |
| |||||||
Bank of America Corp. | 250,000 | 261,833 | ||||||
Bank of America Corp. FRS | 500,000 | 562,500 | ||||||
Citigroup, Inc. | 250,000 | 264,400 | ||||||
Citigroup, Inc. | 250,000 | 259,807 | ||||||
Goldman Sachs Group, Inc. | 500,000 | 534,950 | ||||||
JPMorgan Chase & Co. FRS | 250,000 | 282,500 | ||||||
Morgan Stanley | 250,000 | 273,993 | ||||||
|
| |||||||
2,439,983 | ||||||||
|
| |||||||
Diversified Financial Services — 0.4% |
| |||||||
General Electric Capital Corp. FRS | 250,000 | 247,525 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Diversified Financial Services (continued) |
| |||||||
General Electric Capital Corp. | $ | 500,000 | $ | 548,485 | ||||
|
| |||||||
796,010 | ||||||||
|
| |||||||
Electric-Integrated — 0.5% |
| |||||||
PacifiCorp | 500,000 | 545,547 | ||||||
PPL Energy Supply LLC | 500,000 | 508,812 | ||||||
|
| |||||||
1,054,359 | ||||||||
|
| |||||||
Electric-Transmission — 0.3% |
| |||||||
Oncor Electric Delivery Co. LLC | 500,000 | 620,663 | ||||||
|
| |||||||
Finance-Auto Loans — 0.5% |
| |||||||
Ford Motor Credit Co. LLC | 750,000 | 785,722 | ||||||
Ford Motor Credit Co. LLC | 250,000 | 272,563 | ||||||
|
| |||||||
1,058,285 | ||||||||
|
| |||||||
Finance-Commercial — 0.1% |
| |||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp. | 250,000 | 242,500 | ||||||
|
| |||||||
Finance-Investment Banker/Broker — 0.4% |
| |||||||
Jefferies Group LLC | 250,000 | 258,750 | ||||||
Jefferies Group LLC | 250,000 | 261,250 | ||||||
Jefferies Group LLC | 250,000 | 301,250 | ||||||
|
| |||||||
821,250 | ||||||||
|
| |||||||
Food-Misc./Diversified — 0.4% |
| |||||||
Ingredion, Inc. | 250,000 | 261,252 | ||||||
Ingredion, Inc. | 500,000 | 528,825 | ||||||
|
| |||||||
790,077 | ||||||||
|
| |||||||
Gas-Distribution — 0.1% |
| |||||||
Sempra Energy | 250,000 | 253,208 | ||||||
|
| |||||||
Independent Power Producers — 0.4% |
| |||||||
GenOn Energy, Inc. | 500,000 | 550,000 |
| ||
30 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. CORPORATE BONDS & NOTES (continued) |
| |||||||
Independent Power Producers (continued) |
| |||||||
NRG Energy, Inc. | $ | 250,000 | $ | 267,500 | ||||
|
| |||||||
817,500 | ||||||||
|
| |||||||
Insurance-Life/Health — 0.1% |
| |||||||
Prudential Covered Trust 2012-1 | 270,000 | 278,618 | ||||||
|
| |||||||
Insurance-Mutual — 0.1% |
| |||||||
New York Life Global Funding | 250,000 | 260,507 | ||||||
|
| |||||||
Insurance-Property/Casualty — 0.3% |
| |||||||
Fidelity National Financial, Inc. | 500,000 | 554,188 | ||||||
|
| |||||||
Medical Labs & Testing Services — 0.1% |
| |||||||
Vantage Oncology LLC/Vantage | 250,000 | 247,500 | ||||||
|
| |||||||
Medical-Biomedical/Gene — 0.2% |
| |||||||
Amgen, Inc. | 250,000 | 257,319 | ||||||
Gilead Sciences, Inc. | 250,000 | 268,459 | ||||||
|
| |||||||
525,778 | ||||||||
|
| |||||||
Medical-Drugs — 0.1% |
| |||||||
AbbVie, Inc. | 250,000 | 233,785 | ||||||
|
| |||||||
Medical-HMO — 0.3% |
| |||||||
MultiPlan, Inc. | 500,000 | 543,750 | ||||||
|
| |||||||
Medical-Hospitals — 0.2% |
| |||||||
HCA, Inc. | 500,000 | 501,250 | ||||||
|
| |||||||
MRI/Medical Diagnostic Imaging — 0.4% |
| |||||||
Alliance HealthCare Services, Inc. | 750,000 | 755,625 | ||||||
|
| |||||||
Non-Hazardous Waste Disposal — 0.1% |
| |||||||
Republic Services, Inc. | 250,000 | 274,479 | ||||||
|
| |||||||
Oil & Gas Drilling — 0.1% |
| |||||||
Rowan Cos., Inc. | 250,000 | 257,964 | ||||||
|
|
Security Description | Principal Amount | Value (Note 2) | ||||||
Oil Companies-Exploration & Production — 0.5% |
| |||||||
W&T Offshore, Inc. | $ | 500,000 | $ | 516,250 | ||||
Whiting Petroleum Corp. | 500,000 | 528,750 | ||||||
|
| |||||||
1,045,000 | ||||||||
|
| |||||||
Oil Companies-Integrated — 0.1% |
| |||||||
Phillips 66 | 250,000 | 258,306 | ||||||
|
| |||||||
Oil Refining & Marketing — 0.1% |
| |||||||
Tesoro Corp. | 250,000 | 253,125 | ||||||
|
| |||||||
Oil-Field Services — 0.2% |
| |||||||
Exterran Partners LP/ | 500,000 | 492,500 | ||||||
|
| |||||||
Physical Therapy/Rehabilitation Centers — 0.2% |
| |||||||
HealthSouth Corp. | 450,000 | 480,375 | ||||||
|
| |||||||
Pipelines — 0.5% |
| |||||||
DCP Midstream Operating LP | 250,000 | 256,256 | ||||||
El Paso Natural Gas Co. | 500,000 | 600,168 | ||||||
Enterprise Products Operating LLC | 250,000 | 250,821 | ||||||
|
| |||||||
1,107,245 | ||||||||
|
| |||||||
Property Trust — 0.1% |
| |||||||
WEA Finance LLC | 250,000 | 263,736 | ||||||
|
| |||||||
Real Estate Investment Trusts — 1.3% |
| |||||||
Alexandria Real Estate Equities, Inc. | 250,000 | 254,782 | ||||||
BioMed Realty LP | 250,000 | 279,724 | ||||||
CubeSmart LP | 250,000 | 259,475 | ||||||
HCP, Inc. | 750,000 | 807,181 | ||||||
Healthcare Realty Trust, Inc. | 250,000 | 270,967 | ||||||
Hospitality Properties Trust | 250,000 | 249,475 |
| ||
31 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. CORPORATE BONDS & NOTES (continued) |
| |||||||
Real Estate Investment Trusts (continued) |
| |||||||
Simon Property Group LP | $ | 500,000 | $ | 519,205 | ||||
Ventas Realty LP/Ventas Capital Corp. Company Guar. Notes | 250,000 | 232,072 | ||||||
|
| |||||||
2,872,881 | ||||||||
|
| |||||||
Rental Auto/Equipment — 0.1% |
| |||||||
ERAC USA Finance LLC | 250,000 | 261,438 | ||||||
|
| |||||||
Savings & Loans/Thrifts — 0.0% |
| |||||||
Washington Mutual Bank | 125,000 | 13 | ||||||
|
| |||||||
Special Purpose Entity — 0.1% |
| |||||||
Murray Street Investment Trust I | 250,000 | 264,685 | ||||||
|
| |||||||
Steel-Specialty — 0.3% |
| |||||||
Allegheny Technologies, Inc. | 500,000 | 531,170 | ||||||
|
| |||||||
Telecom Equipment-Fiber Optics — 0.1% |
| |||||||
Corning, Inc. | 250,000 | 240,253 | ||||||
|
| |||||||
Telecom Services — 0.3% |
| |||||||
Qwest Corp. | 500,000 | 556,614 | ||||||
|
| |||||||
Telephone-Integrated — 0.1% |
| |||||||
AT&T, Inc. | 250,000 | 257,609 | ||||||
|
| |||||||
Trucking/Leasing — 0.2% |
| |||||||
Penske Truck Leasing Co. LP/PTL | 250,000 | 258,325 | ||||||
Penske Truck Leasing Co. LP/PTL | 250,000 | 261,575 | ||||||
|
| |||||||
519,900 | ||||||||
|
| |||||||
Total U.S. Corporate Bonds & Notes | 27,887,938 | |||||||
|
| |||||||
FOREIGN CORPORATE BONDS & NOTES — 2.6% |
| |||||||
Banks-Commercial — 0.1% |
| |||||||
ING Bank NV | 250,000 | 261,660 | ||||||
|
| |||||||
Cruise Lines — 0.5% |
| |||||||
Royal Caribbean Cruises, Ltd. | 500,000 | 562,500 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Cruise Lines (continued) |
| |||||||
Seven Seas Cruises S de RL LLC | $ | 500,000 | $ | 530,000 | ||||
|
| |||||||
1,092,500 | ||||||||
|
| |||||||
Diversified Banking Institutions — 0.1% |
| |||||||
Morgan Stanley | 250,000 | 260,013 | ||||||
|
| |||||||
Diversified Minerals — 0.2% |
| |||||||
Xstrata Finance Canada, Ltd. | 500,000 | 484,058 | ||||||
|
| |||||||
Electric-Integrated — 0.1% |
| |||||||
TransAlta Corp. | 250,000 | 238,420 | ||||||
|
| |||||||
Insurance-Reinsurance — 0.3% |
| |||||||
Aspen Insurance Holdings, Ltd. | 500,000 | 560,846 | ||||||
|
| |||||||
Oil Companies-Integrated — 0.8% |
| |||||||
BP Capital Markets PLC | 500,000 | 555,273 | ||||||
BP Capital Markets PLC | 250,000 | 254,159 | ||||||
Petro-Canada | 750,000 | 750,865 | ||||||
Total Capital SA | 250,000 | 261,247 | ||||||
|
| |||||||
1,821,544 | ||||||||
|
| |||||||
Oil-Field Services — 0.1% |
| |||||||
Weatherford International, Ltd. | 250,000 | 247,159 | ||||||
|
| |||||||
Property Trust — 0.1% |
| |||||||
WT Finance Aust Pty, Ltd./Westfield Capital/WEA Finance LLC | 250,000 | 265,901 | ||||||
|
| |||||||
Steel-Producers — 0.3% |
| |||||||
ArcelorMittal | 500,000 | 497,500 | ||||||
|
| |||||||
Total Foreign Corporate Bonds & Notes | 5,729,601 | |||||||
|
| |||||||
U.S. GOVERNMENT AGENCIES — 11.2% |
| |||||||
Federal Home Loan Mtg. Corp. — 3.8% |
| |||||||
0.63% due 12/29/2014 | 250,000 | 251,133 | ||||||
3.00% due 01/01/2027 | 306,630 | 316,112 | ||||||
3.00% due 02/01/2027 | 313,436 | 322,867 | ||||||
3.00% due 10/01/2032 | 189,686 | 192,232 | ||||||
3.00% due 04/01/2042 | 254,571 | 248,523 | ||||||
3.00% due 10/01/2042 | 346,350 | 338,575 | ||||||
3.00% due 05/01/2043 | 199,443 | 194,787 | ||||||
3.50% due 02/01/2042 | 315,630 | 320,149 |
| ||
32 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. GOVERNMENT AGENCIES (continued) |
| |||||||
Federal Home Loan Mtg. Corp. (continued) |
| |||||||
3.50% due 07/01/2042 | $ | 374,871 | $ | 380,493 | ||||
3.50% due 09/01/2042 | 133,098 | 135,003 | ||||||
3.50% due 10/01/2042 | 196,191 | 199,331 | ||||||
4.00% due 08/01/2026 | 144,921 | 152,136 | ||||||
4.00% due 12/01/2040 | 446,337 | 465,892 | ||||||
4.50% due 07/01/2039 | 698,566 | 752,169 | ||||||
4.50% due 03/01/2041 | 199,196 | 213,543 | ||||||
5.00% due 08/01/2033 | 242,853 | 262,397 | ||||||
5.00% due 04/01/2035 | 166,864 | 178,834 | ||||||
5.00% due 01/01/2040 | 233,625 | 252,297 | ||||||
5.00% due 06/01/2041 | 106,295 | 115,313 | ||||||
5.50% due 11/01/2017 | 39,717 | 42,428 | ||||||
5.50% due 01/01/2018 | 42,217 | 45,098 | ||||||
5.50% due 11/01/2018 | 123,915 | 132,813 | ||||||
5.50% due 05/01/2031 | 51,652 | 55,949 | ||||||
5.50% due 12/01/2033 | 201,683 | 218,570 | ||||||
5.50% due 01/01/2036 | 135,831 | 147,964 | ||||||
6.00% due 04/01/2017 | 27,206 | 28,824 | ||||||
6.00% due 05/01/2017 | 46,751 | 49,584 | ||||||
6.00% due 05/01/2031 | 28,435 | 31,715 | ||||||
6.00% due 09/01/2032 | 20,919 | 23,340 | ||||||
6.00% due 01/01/2035 | 485,466 | 524,591 | ||||||
6.50% due 01/01/2032 | 115,905 | 131,058 | ||||||
7.00% due 02/01/2015 | 2,120 | 2,190 | ||||||
7.00% due 03/01/2015 | 5,652 | 5,810 | ||||||
7.00% due 06/01/2015 | 1,732 | 1,819 | ||||||
7.00% due 03/01/2016 | 11,595 | 12,173 | ||||||
7.00% due 01/01/2032 | 17,863 | 20,712 | ||||||
7.50% due 12/01/2030 | 32,950 | 36,889 | ||||||
7.50% due 01/01/2031 | 53,003 | 61,134 | ||||||
7.50% due 02/01/2031 | 6,541 | 7,573 | ||||||
8.00% due 08/01/2030 | 12,388 | 12,939 | ||||||
Federal Home Loan Mtg. Corp. REMIC | ||||||||
Series 4127, Class EJ | ||||||||
2.50% due 11/15/2032(5) | 193,859 | 195,216 | ||||||
Series 4033, Class ED | ||||||||
2.50% due 10/15/2036(5) | 374,493 | 383,371 | ||||||
Series 3805, Class EG | ||||||||
3.50% due 06/15/2040(5) | 156,129 | 162,226 | ||||||
Series 4121, Class UI | ||||||||
3.50% due 10/15/2042(5)(8) | 774,631 | 174,514 | ||||||
Series 3741, Class PI | ||||||||
4.00% due 02/15/2035(5)(8) | 448,539 | 43,986 | ||||||
Series 3754, Class MB | ||||||||
4.00% due 01/15/2039(5) | 300,000 | 312,083 | ||||||
Series 3924, Class LB | ||||||||
4.00% due 05/15/2039(5) | 200,000 | 207,179 | ||||||
Series 3844, Class QE | ||||||||
4.50% due 12/15/2040(5) | 132,369 | 141,536 | ||||||
|
| |||||||
8,505,070 | ||||||||
|
| |||||||
Federal National Mtg. Assoc. — 4.6% |
| |||||||
2.00% due 10/01/2027 | 376,213 | 366,860 | ||||||
2.00% due 02/01/2028 | 96,342 | 93,947 | ||||||
2.00% due 03/01/2028 | 292,694 | 285,417 | ||||||
2.50% due 05/01/2027 | 334,058 | 336,546 | ||||||
2.50% due 06/01/2027 | 537,521 | 541,536 | ||||||
3.00% due 04/01/2027 | 88,447 | 91,203 | ||||||
3.00% due 08/01/2042 | 177,858 | 174,022 | ||||||
3.00% due 10/01/2042 | 192,668 | 188,539 | ||||||
3.00% due 12/01/2042 | 195,564 | 191,364 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Federal National Mtg. Assoc. (continued) |
| |||||||
3.00% due 02/01/2043 | $ | 466,054 | $ | 456,029 | ||||
3.00% due 04/01/2043 | 249,127 | 239,396 | ||||||
3.50% due 03/01/2042 | 271,337 | 275,815 | ||||||
3.50% due 07/01/2042 | 148,269 | 150,806 | ||||||
3.50% due 09/01/2042 | 211,045 | 214,796 | ||||||
3.50% due 11/01/2042 | 292,877 | 298,082 | ||||||
4.00% due 09/01/2040 | 638,174 | 668,617 | ||||||
4.00% due 12/01/2040 | 234,681 | 246,252 | ||||||
4.00% due 01/01/2041 | 349,357 | 364,337 | ||||||
4.00% due 02/01/2041 | 190,055 | 198,092 | ||||||
4.00% due 11/01/2041 | 232,254 | 242,293 | ||||||
4.50% due 08/01/2040 | 261,505 | 277,067 | ||||||
4.50% due 09/01/2040 | 242,738 | 257,183 | ||||||
4.50% due 05/01/2041 | 144,799 | 154,442 | ||||||
4.50% due 09/01/2041 | 155,896 | 165,174 | ||||||
5.00% due 08/01/2033 | 187,233 | 202,551 | ||||||
5.00% due 12/01/2039 | 177,769 | 194,579 | ||||||
5.00% due 05/01/2040 | 162,396 | 177,763 | ||||||
5.00% due 06/01/2040 | 297,598 | 328,243 | ||||||
5.50% due 02/01/2034 | 394,489 | 425,267 | ||||||
5.50% due 08/01/2034 | 56,580 | 61,175 | ||||||
6.00% due 08/01/2018 | 9,605 | 10,438 | ||||||
6.00% due 05/01/2031 | 16,621 | 18,305 | ||||||
6.00% due 08/01/2031 | 118,384 | 130,378 | ||||||
6.00% due 04/01/2032 | 33,477 | 36,879 | ||||||
6.50% due 06/01/2019 | 13,126 | 14,556 | ||||||
6.50% due 09/01/2024 | 33,238 | 37,041 | ||||||
6.50% due 09/01/2025 | 5,516 | 6,122 | ||||||
6.50% due 11/01/2025 | 11,131 | 12,383 | ||||||
6.50% due 05/01/2026 | 19,812 | 21,938 | ||||||
6.50% due 11/01/2027 | 830 | 919 | ||||||
6.50% due 07/01/2029 | 87,240 | 98,143 | ||||||
6.50% due 01/01/2032 | 12,716 | 14,259 | ||||||
6.50% due 03/01/2032 | 85,102 | 97,961 | ||||||
6.50% due 04/01/2032 | 110,882 | 127,637 | ||||||
6.50% due 12/01/2032 | 38,715 | 43,594 | ||||||
6.50% due 07/01/2034 | 97,865 | 108,369 | ||||||
6.50% due 10/01/2037 | 124,784 | 140,316 | ||||||
7.00% due 05/01/2015 | 575 | 577 | ||||||
7.00% due 12/01/2015 | 703 | 711 | ||||||
7.00% due 04/01/2016 | 5,575 | 5,866 | ||||||
7.00% due 05/01/2029 | 12,019 | 14,040 | ||||||
7.00% due 09/01/2029 | 7,623 | 8,902 | ||||||
7.00% due 12/01/2029 | 1,364 | 1,383 | ||||||
7.00% due 01/01/2031 | 4,218 | 4,926 | ||||||
7.50% due 11/01/2030 | 23,241 | 26,509 | ||||||
7.50% due 01/01/2031 | 102,872 | 114,440 | ||||||
7.50% due 02/01/2031 | 20,397 | 22,370 | ||||||
7.50% due 03/01/2031 | 15,586 | 17,175 | ||||||
8.00% due 01/01/2016 | 45,928 | 48,480 | ||||||
Federal National Mtg. Assoc. REMIC | ||||||||
Series 2012-122, Class AD | ||||||||
2.00% due 02/25/2040(5) | 97,149 | 96,022 | ||||||
Series 2012-141, Class PB | ||||||||
2.50% due 12/25/2042(5) | 200,000 | 171,789 | ||||||
Series 2012-125, Class IG | ||||||||
3.50% due 11/25/2042(5)(8) | 688,462 | 155,322 | ||||||
Series 2009-19, Class PW | ||||||||
4.50% due 10/25/2036(5) | 300,000 | 325,645 | ||||||
Series 2007-84, Class P | ||||||||
5.00% due 08/25/2037(5) | 115,057 | 125,442 |
| ||
33 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. GOVERNMENT AGENCIES (continued) |
| |||||||
Federal National Mtg. Assoc. (continued) |
| |||||||
Series 2002-16, Class TM | ||||||||
7.00% due 04/25/2032(5) | $ | 207,587 | $ | 239,521 | ||||
Series 1993-248, Class SA FRS | ||||||||
7.04% due 08/25/2023(5)(9) | 15,349 | 15,613 | ||||||
|
| |||||||
�� | 10,181,364 | |||||||
|
| |||||||
Government National Mtg. Assoc. — 2.8% |
| |||||||
2.50% due 07/15/2027 | 278,243 | 281,262 | ||||||
3.00% due 02/15/2043 | 297,585 | 295,273 | ||||||
3.50% due 05/20/2027 | 152,836 | 160,584 | ||||||
3.50% due 11/15/2041 | 231,675 | 238,134 | ||||||
3.50% due 09/15/2042 | 270,336 | 277,982 | ||||||
4.00% due 08/15/2041 | 169,795 | 179,115 | ||||||
4.50% due 05/15/2039 | 134,217 | 142,980 | ||||||
4.50% due 10/15/2039 | 219,772 | 237,991 | ||||||
4.50% due 06/15/2041 | 191,541 | 206,549 | ||||||
5.00% due 02/15/2040 | 187,423 | 204,390 | ||||||
5.50% due 07/20/2033 | 225,160 | 250,840 | ||||||
5.50% due 02/20/2034 | 158,057 | 176,020 | ||||||
6.00% due 05/20/2032 | 58,676 | 65,668 | ||||||
6.00% due 07/20/2033 | 137,863 | 154,592 | ||||||
6.50% due 11/15/2023 | 32,107 | 35,373 | ||||||
6.50% due 12/15/2023 | 94,519 | 104,048 | ||||||
6.50% due 02/15/2024 | 30,215 | 31,449 | ||||||
6.50% due 03/20/2027 | 3,380 | 3,753 | ||||||
6.50% due 04/20/2027 | 20,826 | 23,151 | ||||||
6.50% due 04/20/2034 | 76,212 | 86,606 | ||||||
7.00% due 12/15/2022 | 5,354 | 6,115 | ||||||
7.00% due 05/15/2023 | 2,890 | 3,321 | ||||||
7.00% due 06/15/2023 | 2,331 | 2,678 | ||||||
7.00% due 12/15/2023 | 6,773 | 7,481 | ||||||
7.00% due 04/15/2028 | 12,333 | 12,928 | ||||||
7.50% due 08/15/2030 | 15,029 | 15,570 | ||||||
7.50% due 09/15/2030 | 4,764 | 5,110 | ||||||
7.50% due 11/15/2030 | 34,554 | 38,299 | ||||||
7.50% due 01/15/2031 | 13,643 | 15,647 | ||||||
Government National Mtg. Assoc. REMIC |
| |||||||
Series 2013-7, Class IO VRS | ||||||||
0.74% due 05/16/2053(4)(8) | 1,287,003 | 97,991 | ||||||
Series 2012-125, Class IO VRS | ||||||||
0.85% due 02/16/2053(4)(8) | 1,979,556 | 148,578 | ||||||
Series 2012-139, Class IO VRS | ||||||||
0.87% due 02/16/2053(4)(8) | 2,474,833 | 193,920 | ||||||
Series 2013-80, Class IO VRS | ||||||||
0.92% due 03/16/2052 (4)(8) | 3,495,087 | 299,330 | ||||||
Series 2012-131, Class IO VRS | ||||||||
0.93% due 02/16/2053(4)(8) | 1,978,638 | 171,111 | ||||||
Series 2013-30, Class IO VRS | ||||||||
0.99% due 09/16/2053(4)(8) | 1,986,046 | 158,228 | ||||||
Series 2013-40, Class IO VRS | ||||||||
1.08% due 06/16/2054(4)(8) | 2,291,991 | 171,150 | ||||||
Series 2013-55, Class AB | ||||||||
1.58% due 12/16/2042(4) | 99,622 | 99,286 | ||||||
Series 2011-126, Class IO VRS | ||||||||
1.59% due 04/16/2053(4)(8) | 3,848,667 | 303,487 | ||||||
Series 2009-94, Class KB | ||||||||
3.00% due 09/16/2039(5) | 109,330 | 113,139 | ||||||
Series 2012-3, Class LA | ||||||||
3.50% due 03/20/2038(5) | 371,450 | 394,885 | ||||||
Series 2011-128, Class BI | ||||||||
4.00% due 09/16/2026(5)(8) | 1,265,723 | 140,705 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Government National Mtg. Assoc. (continued) |
| |||||||
Series 2011-28, Class V | ||||||||
4.00% due 02/20/2034(5) | $ | 280,442 | $ | 298,120 | ||||
Series 2010-165, Class IP | ||||||||
4.00% due 04/20/2038(5)(8) | 775,196 | 114,589 | ||||||
Series 2002-70, Class PA | ||||||||
4.50% due 08/20/2032(5) | 20,120 | 20,958 | ||||||
Series 2010-107, Class IO | ||||||||
4.50% due 04/20/2036(5)(8) | 324,999 | 47,759 | ||||||
Series 2011-27, Class CB VRS | ||||||||
3.50% due 07/16/2045(4) | 250,000 | 260,704 | ||||||
|
| |||||||
6,296,849 | ||||||||
|
| |||||||
Total U.S. Government Agencies | 24,983,283 | |||||||
|
| |||||||
U.S. GOVERNMENT TREASURIES — 0.8% |
| |||||||
United States Treasury Bonds — 0.3% |
| |||||||
3.75% due 08/15/2041 | 250,000 | 263,945 | ||||||
6.25% due 08/15/2023 | 300,000 | 402,563 | ||||||
|
| |||||||
666,508 | ||||||||
|
| |||||||
United States Treasury Notes — 0.5% |
| |||||||
1.75% due 10/31/2018 | 400,000 | 405,625 | ||||||
1.88% due 02/28/2014 | 100,000 | 101,144 | ||||||
2.13% due 05/31/2015 | 330,000 | 341,189 | ||||||
3.13% due 05/15/2021 | 100,000 | 107,383 | ||||||
4.13% due 05/15/2015 | 250,000 | 267,637 | ||||||
|
| |||||||
1,222,978 | ||||||||
|
| |||||||
Total U.S. Government Treasuries | 1,889,486 | |||||||
|
| |||||||
LOANS(10)(11) — 0.1% |
| |||||||
Casino Hotels — 0.1% |
| |||||||
CCM Merger, Inc. | 215,107 | 215,107 | ||||||
|
| |||||||
Total Long-Term Investment Securities (cost $184,249,358) | 215,706,304 | |||||||
|
| |||||||
REPURCHASE AGREEMENT — 2.6% |
| |||||||
Agreement with State Street Bank and Trust Co., bearing interest at 0.01%, dated 06/28/2013, to be repurchased 07/01/2013 in the amount of $5,785,005 and collateralized by $6,000,000 of United States Treasury Notes, bearing interest at 0.63% due 05/31/2017 and having an approximate value of $5,904,432. | 5,785,000 | 5,785,000 | ||||||
|
| |||||||
TOTAL INVESTMENTS | 99.7 | % | 221,491,304 | |||||
Other assets less liabilities | 0.3 | 616,715 | ||||||
|
|
|
| |||||
NET ASSETS | 100.0 | % | $ | 222,108,019 | ||||
|
|
|
|
† | Non-income producing security |
* | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The portfolio has no right to demand registration of these securities. At June 30, 2013, the aggregate value of these securities |
| ||
34 |
Table of Contents
Anchor Series Trust Asset Allocation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
was $11,317,062 representing 5.1% of net assets. Unless otherwise indicated these securities are not considered to be illiquid. |
(1) | Fair valued security. Securities are classified as Level 2 based on the securities valuation inputs; see Note 2. |
(2) | Fair valued security. Securities are classified as Level 3 based on the securities valuation inputs; see Note 2. |
(3) | “Step-up” security where the rate increases (“steps-up”) at a pre-determined rate. The rate reflected is as of June 30, 2013. |
(4) | Commercial Mortgage Backed Security |
(5) | Collateralized Mortgage Obligation |
(6) | Perpetual Maturity- maturity date reflects the next call date. |
(7) | Illiquid Security. At June 30, 2013, the aggregate value of these securities was $13 representing 0.0% of net assets. |
(8) | Interest Only |
(9) | Inverse Floating Rate Security that pays interest that varies inversely to changes in the market interest rates. The interest rate shown is the current rate at June 30, 2013. |
(10) | The Portfolio invests in senior loans which generally pay interest at rates which are periodically re-determined by reference to a base lending rate plus a premium. These base lending rates are generally either the lending rate offered by one or more major European banks, such as the London Inter-Bank Offer Bank (“LIBOR”) or the prime rate offered by one or more major United States banks, or the certificate of deposit rate. Senior loans are generally considered to be restrictive in that the Portfolio is ordinarily contractually obligated to receive approval from the Agent Bank and/or borrower prior to the disposition of a senior loan. |
(11) | Senior loans in the Portfolio are generally subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments may occur. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. |
(12) | See Note 6 for cost of investments on a tax basis. |
ADR — American Depository Receipt
REMIC — Real Estate Mortgage Investment Conduit
FRS — Floating Rate Security
VRS — Variable Rate Security
The rates shown on FRS and VRS are the current interest rates at June 30, 2013 and unless otherwise noted, the dates shown are the original maturity dates.
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | ||||||||||||||||
Common Stock: | ||||||||||||||||
Diversified Manufacturing Operations | $ | 3,075,968 | $ | 192,331 | $ | — | $ | 3,268,299 | ||||||||
Telecommunication Equipment | 175,644 | 404,293 | — | 579,937 | ||||||||||||
Other Industries* | 136,072,993 | — | — | 136,072,993 | ||||||||||||
Exchange-Traded Funds | 3,479,014 | — | — | 3,479,014 | ||||||||||||
Preferred Stock | 226,901 | — | — | 226,901 | ||||||||||||
Asset Backed Securities: | ||||||||||||||||
Diversified Financial Services | — | 10,363,088 | 249,375 | 10,612,463 | ||||||||||||
Convertible Bonds & Notes | — | 761,282 | — | 761,282 | ||||||||||||
U.S. Corporate Bonds & Notes: | ||||||||||||||||
Savings & Loans/Thrifts | — | — | 13 | 13 | ||||||||||||
Other Industries* | — | 27,887,925 | — | 27,887,925 | ||||||||||||
Foreign Corporate Bonds & Notes | — | 5,729,601 | — | 5,729,601 | ||||||||||||
U.S. Government Agencies | — | 24,983,283 | — | 24,983,283 | ||||||||||||
U.S. Government Treasuries | — | 1,889,486 | — | 1,889,486 | ||||||||||||
Loans | — | 215,107 | — | 215,107 | ||||||||||||
Repurchase Agreement | — | 5,785,000 | — | 5,785,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 143,030,520 | $ | 78,211,396 | $ | 249,388 | $ | 221,491,304 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry classification, please refer to the Portfolio of Investments. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.
At the beginning and end of the reporting period, Level 3 investments in securities were not considered a material portion of the Portfolio.
See Notes to Financial Statements
| ||
35 |
Table of Contents
Anchor Series Trust Growth and Income Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
Medical-Drugs | 6.9 | % | ||
Medical-Biomedical/Gene | 4.6 | |||
Exchange-Traded Funds | 4.4 | |||
Oil Companies-Integrated | 4.3 | |||
Diversified Banking Institutions | 4.1 | |||
Banks-Super Regional | 3.4 | |||
Tobacco | 3.2 | |||
Electric-Integrated | 3.2 | |||
Commercial Services-Finance | 3.1 | |||
Oil Companies-Exploration & Production | 2.8 | |||
Diversified Manufacturing Operations | 2.8 | |||
Retail-Drug Store | 2.6 | |||
Repurchase Agreements | 2.4 | |||
Multimedia | 2.4 | |||
Consulting Services | 2.4 | |||
Web Portals/ISP | 2.4 | |||
Retail-Discount | 2.4 | |||
Retail-Apparel/Shoe | 2.1 | |||
E-Commerce/Products | 2.1 | |||
Aerospace/Defense | 2.0 | |||
Computer Services | 1.9 | |||
Insurance-Multi-line | 1.8 | |||
Investment Management/Advisor Services | 1.8 | |||
Aerospace/Defense-Equipment | 1.6 | |||
Retail-Restaurants | 1.6 | |||
Beverages-Non-alcoholic | 1.5 | |||
Applications Software | 1.5 | |||
Networking Products | 1.5 | |||
Enterprise Software/Service | 1.5 | |||
Telephone-Integrated | 1.5 | |||
Retail-Building Products | 1.5 | |||
Medical Products | 1.5 | |||
Computers | 1.4 | |||
Medical-HMO | 1.4 | |||
Medical-Generic Drugs | 1.3 | |||
Insurance Brokers | 1.3 | |||
Retail-Major Department Stores | 1.2 | |||
Medical-Wholesale Drug Distribution | 1.1 | |||
Chemicals-Diversified | 0.9 | |||
Insurance-Life/Health | 0.8 | |||
Computers-Memory Devices | 0.8 | |||
Internet Security | 0.7 | |||
Beverages-Wine/Spirits | 0.7 | |||
Electric Products-Misc. | 0.7 | |||
Oil-Field Services | 0.7 | |||
Containers-Metal/Glass | 0.6 | |||
Oil Field Machinery & Equipment | 0.6 | |||
Cosmetics & Toiletries | 0.6 | |||
Food-Meat Products | 0.6 | |||
Rental Auto/Equipment | 0.6 | |||
Computers-Integrated Systems | 0.5 | |||
Banks-Commercial | 0.5 | |||
Coatings/Paint | 0.5 | |||
Independent Power Producers | 0.3 | |||
|
| |||
100.6 | % | |||
|
|
* | Calculated as a percentage of net assets |
| ||
36 |
Table of Contents
Anchor Series Trust Growth and Income Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCK — 93.8% |
| |||||||
Aerospace/Defense — 2.0% |
| |||||||
Boeing Co. | 6,855 | $ | 702,226 | |||||
TransDigm Group, Inc. | 3,855 | 604,349 | ||||||
|
| |||||||
1,306,575 | ||||||||
|
| |||||||
Aerospace/Defense-Equipment — 1.6% |
| |||||||
United Technologies Corp. | 11,525 | 1,071,133 | ||||||
|
| |||||||
Applications Software — 1.5% | ||||||||
Intuit, Inc. | 11,020 | 672,551 | ||||||
Microsoft Corp. | 9,740 | 336,322 | ||||||
|
| |||||||
1,008,873 | ||||||||
|
| |||||||
Banks-Commercial — 0.5% |
| |||||||
Zions Bancorporation | 12,335 | 356,235 | ||||||
|
| |||||||
Banks-Super Regional — 3.4% | ||||||||
PNC Financial Services Group, Inc. | 13,100 | 955,252 | ||||||
Wells Fargo & Co. | �� | 31,385 | 1,295,259 | |||||
|
| |||||||
2,250,511 | ||||||||
|
| |||||||
Beverages-Non-alcoholic — 1.5% |
| |||||||
Monster Beverage Corp.† | 11,005 | 668,774 | ||||||
PepsiCo, Inc. | 4,195 | 343,109 | ||||||
|
| |||||||
1,011,883 | ||||||||
|
| |||||||
Beverages-Wine/Spirits — 0.7% |
| |||||||
Constellation Brands, Inc., Class A† | 9,250 | 482,110 | ||||||
|
| |||||||
Chemicals-Diversified — 0.9% | ||||||||
Dow Chemical Co. | 18,805 | 604,957 | ||||||
|
| |||||||
Coatings/Paint — 0.5% | ||||||||
Sherwin-Williams Co. | 1,995 | 352,317 | ||||||
|
| |||||||
Commercial Services-Finance — 3.1% | ||||||||
Automatic Data Processing, Inc. | 12,260 | 844,224 | ||||||
Equifax, Inc. | 10,370 | 611,104 | ||||||
Mastercard, Inc., Class A | 1,040 | 597,480 | ||||||
|
| |||||||
2,052,808 | ||||||||
|
| |||||||
Computer Services — 1.9% |
| |||||||
Accenture PLC, Class A | 11,930 | 858,483 | ||||||
Cognizant Technology Solutions Corp., Class A† | 5,805 | 363,451 | ||||||
|
| |||||||
1,221,934 | ||||||||
|
| |||||||
Computers — 1.4% |
| |||||||
Apple, Inc. | 2,350 | 930,788 | ||||||
|
| |||||||
Computers-Integrated Systems — 0.5% | ||||||||
Teradata Corp.† | 7,095 | 356,382 | ||||||
|
| |||||||
Computers-Memory Devices — 0.8% | ||||||||
EMC Corp. | 22,890 | 540,662 | ||||||
|
| |||||||
Consulting Services — 2.4% | ||||||||
Genpact, Ltd. | 29,210 | 562,000 | ||||||
Towers Watson & Co., Class A | 8,735 | 715,746 | ||||||
Verisk Analytics, Inc., Class A† | 5,630 | 336,111 | ||||||
|
| |||||||
1,613,857 | ||||||||
|
| |||||||
Containers-Metal/Glass — 0.6% |
| |||||||
Crown Holdings, Inc.† | 10,250 | 421,582 | ||||||
|
| |||||||
Cosmetics & Toiletries — 0.6% | ||||||||
Coty, Inc.† | 22,100 | 379,678 | ||||||
|
|
Security Description | Shares | Value | ||||||
Diversified Banking Institutions — 4.1% | ||||||||
Citigroup, Inc. | 20,615 | $ | 988,902 | |||||
JPMorgan Chase & Co. | 23,725 | 1,252,443 | ||||||
Morgan Stanley | 19,810 | 483,958 | ||||||
|
| |||||||
2,725,303 | ||||||||
|
| |||||||
Diversified Manufacturing Operations — 2.8% |
| |||||||
Dover Corp. | 7,930 | 615,844 | ||||||
Eaton Corp. PLC | 8,750 | 575,838 | ||||||
Illinois Tool Works, Inc. | 9,955 | 688,587 | ||||||
|
| |||||||
1,880,269 | ||||||||
|
| |||||||
E-Commerce/Products — 2.1% |
| |||||||
Amazon.com, Inc.† | 3,070 | 852,508 | ||||||
eBay, Inc.† | 10,045 | 519,528 | ||||||
|
| |||||||
1,372,036 | ||||||||
|
| |||||||
Electric Products-Misc. — 0.7% |
| |||||||
AMETEK, Inc. | 11,315 | 478,624 | ||||||
|
| |||||||
Electric-Integrated — 3.2% | ||||||||
American Electric Power Co., Inc. | 13,265 | 594,007 | ||||||
NextEra Energy, Inc. | 5,780 | 470,954 | ||||||
Pinnacle West Capital Corp. | 5,510 | 305,640 | ||||||
Xcel Energy, Inc. | 26,150 | 741,091 | ||||||
|
| |||||||
2,111,692 | ||||||||
|
| |||||||
Enterprise Software/Service — 1.5% |
| |||||||
Oracle Corp. | 32,550 | 999,936 | ||||||
|
| |||||||
Food-Meat Products — 0.6% | ||||||||
Hillshire Brands Co. | 11,445 | 378,601 | ||||||
|
| |||||||
Independent Power Producers — 0.3% | ||||||||
NRG Energy, Inc. | 7,380 | 197,046 | ||||||
|
| |||||||
Insurance Brokers — 1.3% | ||||||||
Aon PLC | 12,800 | 823,680 | ||||||
|
| |||||||
Insurance-Life/Health — 0.8% | ||||||||
Prudential Financial, Inc. | 7,615 | 556,123 | ||||||
|
| |||||||
Insurance-Multi-line — 1.8% | ||||||||
ACE, Ltd. | 5,990 | 535,985 | ||||||
Hartford Financial Services Group, Inc. | 11,800 | 364,856 | ||||||
MetLife, Inc. | 6,935 | 317,346 | ||||||
|
| |||||||
1,218,187 | ||||||||
|
| |||||||
Internet Security — 0.7% |
| |||||||
VeriSign, Inc.† | 10,885 | 486,124 | ||||||
|
| |||||||
Investment Management/Advisor Services — 1.8% |
| |||||||
Ameriprise Financial, Inc. | 7,360 | 595,277 | ||||||
BlackRock, Inc. | 2,320 | 595,892 | ||||||
|
| |||||||
1,191,169 | ||||||||
|
| |||||||
Medical Products — 1.5% |
| |||||||
Covidien PLC | 7,875 | 494,865 | ||||||
Zimmer Holdings, Inc. | 6,165 | 462,005 | ||||||
|
| |||||||
956,870 | ||||||||
|
| |||||||
Medical-Biomedical/Gene — 4.6% |
| |||||||
Amgen, Inc. | 6,140 | 605,772 | ||||||
Biogen Idec, Inc.† | 2,805 | 603,636 | ||||||
Cubist Pharmaceuticals, Inc.† | 8,945 | 432,044 | ||||||
Gilead Sciences, Inc.† | 21,490 | 1,100,503 | ||||||
Regeneron Pharmaceuticals, Inc.† | 1,450 | 326,076 | ||||||
|
| |||||||
3,068,031 | ||||||||
|
|
| ||
37 |
Table of Contents
Anchor Series Trust Growth and Income Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Medical-Drugs — 6.9% |
| |||||||
Bristol-Myers Squibb Co. | 7,370 | $ | 329,365 | |||||
Eli Lilly & Co. | 15,890 | 780,517 | ||||||
Forest Laboratories, Inc.† | 18,645 | 764,445 | ||||||
Merck & Co., Inc. | 30,930 | 1,436,698 | ||||||
Pfizer, Inc. | 24,750 | 693,248 | ||||||
Quintiles Transnational Holdings, Inc.† | 2,600 | 110,656 | ||||||
Salix Pharmaceuticals, Ltd.† | 6,990 | 462,389 | ||||||
|
| |||||||
4,577,318 | ||||||||
|
| |||||||
Medical-Generic Drugs — 1.3% |
| |||||||
Actavis, Inc.† | 6,560 | 828,003 | ||||||
|
| |||||||
Medical-HMO — 1.4% | ||||||||
UnitedHealth Group, Inc. | 13,855 | 907,225 | ||||||
|
| |||||||
Medical-Wholesale Drug Distribution — 1.1% |
| |||||||
McKesson Corp. | 6,205 | 710,472 | ||||||
|
| |||||||
Multimedia — 2.4% | ||||||||
Time Warner, Inc. | 17,860 | 1,032,665 | ||||||
Viacom, Inc., Class B | 8,567 | 582,985 | ||||||
|
| |||||||
1,615,650 | ||||||||
|
| |||||||
Networking Products — 1.5% |
| |||||||
Cisco Systems, Inc. | 41,200 | 1,001,572 | ||||||
|
| |||||||
Oil Companies-Exploration & Production — 2.8% |
| |||||||
Anadarko Petroleum Corp. | 9,365 | 804,734 | ||||||
Chesapeake Energy Corp. | 17,615 | 358,994 | ||||||
Cobalt International Energy, Inc.† | 15,810 | 420,072 | ||||||
Newfield Exploration Co.† | 12,460 | 297,669 | ||||||
|
| |||||||
1,881,469 | ||||||||
|
| |||||||
Oil Companies-Integrated — 4.3% |
| |||||||
Chevron Corp. | 11,570 | 1,369,194 | ||||||
Exxon Mobil Corp. | 11,700 | 1,057,095 | ||||||
Phillips 66 | 7,040 | 414,726 | ||||||
|
| |||||||
2,841,015 | ||||||||
|
| |||||||
Oil Field Machinery & Equipment — 0.6% |
| |||||||
National Oilwell Varco, Inc. | 5,975 | 411,677 | ||||||
|
| |||||||
Oil-Field Services — 0.7% | ||||||||
Halliburton Co. | 10,380 | 433,054 | ||||||
|
| |||||||
Rental Auto/Equipment — 0.6% | ||||||||
Hertz Global Holdings, Inc.† | 15,085 | 374,108 | ||||||
|
| |||||||
Retail-Apparel/Shoe — 2.1% | ||||||||
PVH Corp. | 6,452 | 806,822 | ||||||
Ross Stores, Inc. | 9,160 | 593,660 | ||||||
|
| |||||||
1,400,482 | ||||||||
|
| |||||||
Retail-Building Products — 1.5% |
| |||||||
Lowe’s Cos., Inc. | 23,570 | 964,013 | ||||||
|
| |||||||
Retail-Discount — 2.4% | ||||||||
Costco Wholesale Corp. | 7,225 | 798,868 | ||||||
Dollar Tree, Inc.† | 14,965 | 760,821 | ||||||
|
| |||||||
1,559,689 | ||||||||
|
| |||||||
Retail-Drug Store — 2.6% |
| |||||||
CVS Caremark Corp. | 16,455 | 940,897 | ||||||
Walgreen Co. | 18,115 | 800,683 | ||||||
|
| |||||||
1,741,580 | ||||||||
|
|
Security Description | Shares/ Principal Amount | Value | ||||||
Retail-Major Department Stores — 1.2% | ||||||||
TJX Cos., Inc. | 15,985 | $ | 800,209 | |||||
|
| |||||||
Retail-Restaurants — 1.6% | ||||||||
McDonald’s Corp. | 10,470 | 1,036,530 | ||||||
|
| |||||||
Telecommunication Equipment — 0.0% | ||||||||
Nortel Networks Corp.† | 147 | 1 | ||||||
|
| |||||||
Telephone-Integrated — 1.5% | ||||||||
AT&T, Inc. | 27,420 | 970,668 | ||||||
|
| |||||||
Tobacco — 3.2% | ||||||||
Altria Group, Inc. | 19,125 | 669,184 | ||||||
Lorillard, Inc. | 7,805 | 340,922 | ||||||
Philip Morris International, Inc. | 12,770 | 1,106,137 | ||||||
|
| |||||||
2,116,243 | ||||||||
|
| |||||||
Web Portals/ISP — 2.4% |
| |||||||
Google, Inc., Class A† | 1,325 | 1,166,490 | ||||||
Yahoo!, Inc.† | 16,680 | 418,835 | ||||||
|
| |||||||
1,585,325 | ||||||||
|
| |||||||
Total Common Stock | 62,162,279 | |||||||
|
| |||||||
EXCHANGE-TRADED FUNDS — 4.4% | ||||||||
SPDR S&P 500 ETF Trust | 18,246 | 2,919,542 | ||||||
|
| |||||||
Total Long-Term Investment Securities | 65,081,821 | |||||||
|
| |||||||
REPURCHASE AGREEMENTS — 2.4% | ||||||||
Bank of America Securities LLC | $ | 25,000 | 25,000 | |||||
Barclays Capital PLC | 665,000 | 665,000 | ||||||
BNP Paribas SA | 275,000 | 275,000 | ||||||
Deutsche Bank AG | 25,000 | 25,000 | ||||||
Royal Bank of Scotland | 370,000 | 370,000 | ||||||
UBS Securities LLC | 260,000 | 260,000 | ||||||
|
| |||||||
Total Repurchase Agreements | 1,620,000 | |||||||
|
| |||||||
TOTAL INVESTMENTS | 100.6 | % | 66,701,821 | |||||
Liabilities in excess of other assets | (0.6 | ) | (408,861 | ) | ||||
|
|
|
| |||||
NET ASSETS | 100.0 | % | $ | 66,292,960 | ||||
|
|
|
|
† | Non-income producing security |
(1) | See Note 2 for details of Joint Repurchase Agreements. |
(2) | See Note 6 for cost of investments on a tax basis. |
ETF — Exchange-Traded Fund
| ||
38 |
Table of Contents
Anchor Series Trust Growth and Income Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | ||||||||||||||||
Common Stock: | ||||||||||||||||
Medical-Drugs | $ | 4,577,318 | $ | — | $ | — | $ | 4,577,318 | ||||||||
Other Industries* | 57,584,961 | — | — | 57,584,961 | ||||||||||||
Exchange-Traded Funds | 2,919,542 | — | — | 2,919,542 | ||||||||||||
Repurchase Agreements | — | 1,620,000 | — | 1,620,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 65,081,821 | $ | 1,620,000 | $ | — | $ | 66,701,821 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry classification, please refer to the Portfolio of Investments. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.
See Notes to Financial Statements
| ||
39 |
Table of Contents
Anchor Series Trust Growth Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
Diversified Banking Institutions | 5.8 | % | ||
Medical-Drugs | 4.0 | |||
Investment Management/Advisor Services | 3.7 | |||
Oil Companies-Exploration & Production | 3.6 | |||
Banks-Super Regional | 3.6 | |||
Medical-Biomedical/Gene | 3.4 | |||
Applications Software | 3.0 | |||
Oil Companies-Integrated | 2.6 | |||
Retail-Discount | 2.5 | |||
Insurance-Life/Health | 2.4 | |||
Repurchase Agreements | 2.4 | |||
Distribution/Wholesale | 2.3 | |||
Computers | 2.2 | |||
Oil & Gas Drilling | 2.1 | |||
Medical-HMO | 2.1 | |||
Computers-Memory Devices | 2.0 | |||
Networking Products | 2.0 | |||
Web Portals/ISP | 1.9 | |||
Retail-Apparel/Shoe | 1.9 | |||
Brewery | 1.8 | |||
Retail-Drug Store | 1.8 | |||
Television | 1.8 | |||
Retail-Building Products | 1.7 | |||
Transport-Services | 1.7 | |||
Cosmetics & Toiletries | 1.7 | |||
Tobacco | 1.7 | |||
Transport-Rail | 1.6 | |||
Machinery-Farming | 1.6 | |||
Advertising Agencies | 1.6 | |||
Computer Services | 1.5 | |||
Financial Guarantee Insurance | 1.4 | |||
Enterprise Software/Service | 1.3 | |||
Building-Residential/Commercial | 1.3 | |||
Telephone-Integrated | 1.3 | |||
Medical Products | 1.3 | |||
Coffee | 1.3 | |||
Machinery-Pumps | 1.2 | |||
Medical Instruments | 1.2 | |||
Telecom Equipment-Fiber Optics | 1.1 | |||
E-Commerce/Products | 1.1 | |||
Schools | 1.1 | |||
Building-Heavy Construction | 1.0 | |||
Diversified Manufacturing Operations | 1.0 | |||
Web Hosting/Design | 0.9 | |||
Semiconductor Components-Integrated Circuits | 0.8 | |||
Rental Auto/Equipment | 0.8 | |||
Wire & Cable Products | 0.8 | |||
Electric-Integrated | 0.8 | |||
E-Commerce/Services | 0.7 | |||
Commercial Services-Finance | 0.7 | |||
Motorcycle/Motor Scooter | 0.7 | |||
Hotels/Motels | 0.7 | |||
Aerospace/Defense-Equipment | 0.7 | |||
Oil Field Machinery & Equipment | 0.6 | |||
Retail-Auto Parts | 0.5 | |||
Medical-Wholesale Drug Distribution | 0.5 | |||
Instruments-Controls | 0.5 | |||
Office Furnishings-Original | 0.5 | |||
Toys | 0.5 | |||
Casino Hotels | 0.4 | |||
Retail-Bedding | 0.4 |
Beverages-Non-alcoholic | 0.4 | % | ||
Gold Mining | 0.4 | |||
Auto/Truck Parts & Equipment-Original | 0.2 | |||
|
| |||
100.1 | % | |||
|
|
* | Calculated as a percentage of net assets |
| ||
40 |
Table of Contents
Anchor Series Trust Growth Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCK — 97.7% |
| |||||||
Advertising Agencies — 1.6% |
| |||||||
Interpublic Group of Cos., Inc. | 487,720 | $ | 7,096,326 | |||||
|
| |||||||
Aerospace/Defense-Equipment — 0.7% |
| |||||||
B/E Aerospace, Inc.† | 46,500 | 2,933,220 | ||||||
|
| |||||||
Applications Software — 3.0% | ||||||||
Check Point Software Technologies, Ltd.† | 116,075 | 5,766,606 | ||||||
Microsoft Corp. | 219,260 | 7,571,048 | ||||||
|
| |||||||
13,337,654 | ||||||||
|
| |||||||
Auto/Truck Parts & Equipment-Original — 0.2% |
| |||||||
Titan International, Inc. | 58,100 | 980,147 | ||||||
|
| |||||||
Banks-Super Regional — 3.6% | ||||||||
PNC Financial Services Group, Inc. | 157,000 | 11,448,440 | ||||||
Wells Fargo & Co. | 114,000 | 4,704,780 | ||||||
|
| |||||||
16,153,220 | ||||||||
|
| |||||||
Beverages-Non-alcoholic — 0.4% |
| |||||||
Monster Beverage Corp.† | 28,325 | 1,721,310 | ||||||
|
| |||||||
Brewery — 1.8% | ||||||||
Anheuser-Busch InBev NV ADR | 91,295 | 8,240,287 | ||||||
|
| |||||||
Building-Heavy Construction — 1.0% | ||||||||
Chicago Bridge & Iron Co. NV | 73,800 | 4,402,908 | ||||||
|
| |||||||
Building-Residential/Commercial — 1.3% | ||||||||
D.R. Horton, Inc. | 274,800 | 5,847,744 | ||||||
|
| |||||||
Casino Hotels — 0.4% | ||||||||
Las Vegas Sands Corp. | 36,300 | 1,921,359 | ||||||
|
| |||||||
Coffee — 1.3% | ||||||||
Green Mountain Coffee Roasters, Inc.† | 74,840 | 5,617,490 | ||||||
|
| |||||||
Commercial Services-Finance — 0.7% | ||||||||
Global Payments, Inc. | 69,100 | 3,200,712 | ||||||
|
| |||||||
Computer Services — 1.5% | ||||||||
Cognizant Technology Solutions Corp., Class A† | 30,500 | 1,909,605 | ||||||
iGATE Corp.† | 280,050 | 4,598,421 | ||||||
|
| |||||||
6,508,026 | ||||||||
|
| |||||||
Computers — 2.2% |
| |||||||
Apple, Inc. | 17,400 | 6,891,792 | ||||||
Hewlett-Packard Co. | 114,800 | 2,847,040 | ||||||
|
| |||||||
9,738,832 | ||||||||
|
| |||||||
Computers-Memory Devices — 2.0% |
| |||||||
EMC Corp. | 389,030 | 9,188,889 | ||||||
|
| |||||||
Cosmetics & Toiletries — 1.7% | ||||||||
Procter & Gamble Co. | 98,285 | 7,566,962 | ||||||
|
| |||||||
Distribution/Wholesale — 2.3% | ||||||||
Fossil Group, Inc.† | 25,200 | 2,603,412 | ||||||
WESCO International, Inc.† | 114,095 | 7,753,896 | ||||||
|
| |||||||
10,357,308 | ||||||||
|
| |||||||
Diversified Banking Institutions — 5.8% |
| |||||||
Citigroup, Inc. | 262,955 | 12,613,951 | ||||||
JPMorgan Chase & Co. | 252,145 | 13,310,735 | ||||||
|
| |||||||
25,924,686 | ||||||||
|
| |||||||
Diversified Manufacturing Operations — 1.0% |
| |||||||
Eaton Corp. PLC | 66,650 | 4,386,237 | ||||||
|
|
Security Description | Shares | Value | ||||||
E-Commerce/Products — 1.1% | ||||||||
eBay, Inc.† | 93,160 | $ | 4,818,235 | |||||
|
| |||||||
E-Commerce/Services — 0.7% | ||||||||
IAC/InterActiveCorp | 68,700 | 3,267,372 | ||||||
|
| |||||||
Electric-Integrated — 0.8% | ||||||||
NextEra Energy, Inc. | 42,570 | 3,468,604 | ||||||
|
| |||||||
Enterprise Software/Service — 1.3% | ||||||||
Oracle Corp. | 194,240 | 5,967,053 | ||||||
|
| |||||||
Financial Guarantee Insurance — 1.4% | ||||||||
Assured Guaranty, Ltd. | 291,283 | 6,425,703 | ||||||
|
| |||||||
Gold Mining — 0.4% | ||||||||
Barrick Gold Corp. | 102,900 | 1,619,646 | ||||||
|
| |||||||
Hotel/Motels — 0.7% | ||||||||
Starwood Hotels & Resorts Worldwide, Inc. | 47,435 | 2,997,418 | ||||||
|
| |||||||
Instruments-Controls — 0.5% | ||||||||
Honeywell International, Inc. | 28,805 | 2,285,389 | ||||||
|
| |||||||
Insurance-Life/Health — 2.4% | ||||||||
Aflac, Inc. | 107,891 | 6,270,625 | ||||||
Lincoln National Corp. | 126,115 | 4,599,414 | ||||||
|
| |||||||
10,870,039 | ||||||||
|
| |||||||
Investment Management/Advisor Services — 3.7% |
| |||||||
Ameriprise Financial, Inc. | 82,270 | 6,653,998 | ||||||
BlackRock, Inc. | 20,165 | 5,179,380 | ||||||
Waddell & Reed Financial, Inc., Class A | 107,200 | 4,663,200 | ||||||
|
| |||||||
16,496,578 | ||||||||
|
| |||||||
Machinery-Farming — 1.6% |
| |||||||
AGCO Corp. | 144,680 | 7,261,489 | ||||||
|
| |||||||
Machinery-Pumps — 1.2% | ||||||||
Flowserve Corp. | 99,328 | 5,364,705 | ||||||
|
| |||||||
Medical Instruments — 1.2% | ||||||||
St Jude Medical, Inc. | 113,780 | 5,191,781 | ||||||
|
| |||||||
Medical Products — 1.3% | ||||||||
Covidien PLC | 90,585 | 5,692,361 | ||||||
|
| |||||||
Medical-Biomedical/Gene — 3.4% | ||||||||
Amgen, Inc. | 107,450 | 10,601,017 | ||||||
Gilead Sciences, Inc.† | 45,800 | 2,345,418 | ||||||
Vertex Pharmaceuticals, Inc.† | 28,800 | 2,300,256 | ||||||
|
| |||||||
15,246,691 | ||||||||
|
| |||||||
Medical-Drugs — 4.0% |
| |||||||
Eli Lilly & Co. | 47,150 | 2,316,008 | ||||||
Merck & Co., Inc. | 141,325 | 6,564,546 | ||||||
Pfizer, Inc. | 243,188 | 6,811,696 | ||||||
Zoetis, Inc. | 76,647 | 2,367,626 | ||||||
|
| |||||||
18,059,876 | ||||||||
|
| |||||||
Medical-HMO — 2.1% |
| |||||||
Cigna Corp. | 126,814 | 9,192,747 | ||||||
|
| |||||||
Medical-Wholesale Drug Distribution — 0.5% |
| |||||||
McKesson Corp. | 20,560 | 2,354,120 | ||||||
|
| |||||||
Motorcycle/Motor Scooter — 0.7% | ||||||||
Harley-Davidson, Inc. | 57,700 | 3,163,114 | ||||||
|
| |||||||
Networking Products — 2.0% | ||||||||
Cisco Systems, Inc. | 371,805 | 9,038,580 | ||||||
|
|
| ||
41 |
Table of Contents
Anchor Series Trust Growth Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Office Furnishings-Original — 0.5% | ||||||||
Herman Miller, Inc. | 82,100 | $ | 2,222,447 | |||||
|
| |||||||
Oil & Gas Drilling — 2.1% | ||||||||
Atwood Oceanics, Inc.† | 63,158 | 3,287,374 | ||||||
Ensco PLC, Class A | 109,120 | 6,342,054 | ||||||
|
| |||||||
9,629,428 | ||||||||
|
| |||||||
Oil Companies-Exploration & Production — 3.6% |
| |||||||
Anadarko Petroleum Corp. | 93,770 | 8,057,656 | ||||||
Continental Resources, Inc.† | 33,500 | 2,883,010 | ||||||
Whiting Petroleum Corp.† | 116,180 | 5,354,736 | ||||||
|
| |||||||
16,295,402 | ||||||||
|
| |||||||
Oil Companies-Integrated — 2.6% |
| |||||||
BP PLC ADR | 51,350 | 2,143,349 | ||||||
Chevron Corp. | 78,680 | 9,310,991 | ||||||
|
| |||||||
11,454,340 | ||||||||
|
| |||||||
Oil Field Machinery & Equipment — 0.6% |
| |||||||
Cameron International Corp.† | 44,500 | 2,721,620 | ||||||
|
| |||||||
Rental Auto/Equipment — 0.8% | ||||||||
Hertz Global Holdings, Inc.† | 144,000 | 3,571,200 | ||||||
|
| |||||||
Retail-Apparel/Shoe — 1.9% | ||||||||
Ascena Retail Group, Inc.† | 174,200 | 3,039,790 | ||||||
Buckle, Inc. | 48,561 | 2,526,143 | ||||||
Chico’s FAS, Inc. | 43,700 | 745,522 | ||||||
PVH Corp. | 16,400 | 2,050,820 | ||||||
|
| |||||||
8,362,275 | ||||||||
|
| |||||||
Retail-Auto Parts — 0.5% |
| |||||||
AutoZone, Inc.† | 5,665 | 2,400,204 | ||||||
|
| |||||||
Retail-Bedding — 0.4% | ||||||||
Bed Bath & Beyond, Inc.† | 24,500 | 1,737,050 | ||||||
|
| |||||||
Retail-Building Products — 1.7% | ||||||||
Lowe’s Cos., Inc. | 189,750 | 7,760,775 | ||||||
|
| |||||||
Retail-Discount — 2.5% | ||||||||
Dollar Tree, Inc.† | 130,540 | 6,636,654 | ||||||
Wal-Mart Stores, Inc. | 63,615 | 4,738,681 | ||||||
|
| |||||||
11,375,335 | ||||||||
|
| |||||||
Retail-Drug Store — 1.8% |
| |||||||
CVS Caremark Corp. | 62,600 | 3,579,468 | ||||||
Walgreen Co. | 98,660 | 4,360,772 | ||||||
|
| |||||||
7,940,240 | ||||||||
|
| |||||||
Schools — 1.1% |
| |||||||
American Public Education, Inc.† | 23,400 | 869,544 | ||||||
Grand Canyon Education, Inc.† | 121,400 | 3,912,722 | ||||||
|
| |||||||
4,782,266 | ||||||||
|
| |||||||
Semiconductor Components-Integrated Circuits — 0.8% |
| |||||||
NXP Semiconductor NV† | 81,235 | 2,516,660 | ||||||
QUALCOMM, Inc. | 20,445 | 1,248,781 | ||||||
|
| |||||||
3,765,441 | ||||||||
|
| |||||||
Telecom Equipment-Fiber Optics — 1.1% |
| |||||||
JDS Uniphase Corp.† | 343,025 | 4,932,699 | ||||||
|
| |||||||
Telephone-Integrated — 1.3% | ||||||||
AT&T, Inc. | 161,145 | 5,704,533 | ||||||
|
|
Security Description | Shares/ Principal Amount | Value (Note 2) | ||||||
Television — 1.8% | ||||||||
CBS Corp., Class B | 162,165 | $ | 7,925,004 | |||||
|
| |||||||
Tobacco — 1.7% | ||||||||
Altria Group, Inc. | 214,460 | 7,503,955 | ||||||
|
| |||||||
Toys — 0.5% | ||||||||
Mattel, Inc. | 46,845 | 2,122,547 | ||||||
|
| |||||||
Transport-Rail — 1.6% | ||||||||
Norfolk Southern Corp. | 101,240 | 7,355,086 | ||||||
|
| |||||||
Transport-Services — 1.7% | ||||||||
FedEx Corp. | 77,690 | 7,658,680 | ||||||
|
| |||||||
Web Hosting/Design — 0.9% | ||||||||
Web.com Group, Inc.† | 157,600 | 4,034,560 | ||||||
|
| |||||||
Web Portals/ISP — 1.9% | ||||||||
Google, Inc., Class A† | 9,715 | 8,552,795 | ||||||
|
| |||||||
Wire & Cable Products — 0.8% | ||||||||
Belden, Inc. | 71,266 | 3,558,311 | ||||||
|
| |||||||
Total Long-Term Investment Securities | 437,271,011 | |||||||
|
| |||||||
REPURCHASE AGREEMENTS — 2.4% | ||||||||
Bank of America Securities LLC | $ | 180,000 | 180,000 | |||||
Barclays Capital PLC | 4,365,000 | 4,365,000 | ||||||
BNP Paribas SA | 1,865,000 | 1,865,000 | ||||||
Deutsche Bank AG | 190,000 | 190,000 | ||||||
Royal Bank of Scotland | 2,485,000 | 2,485,000 | ||||||
UBS Securities LLC | 1,755,000 | 1,755,000 | ||||||
|
| |||||||
Total Repurchase Agreements | 10,840,000 | |||||||
|
| |||||||
TOTAL INVESTMENTS | 100.1 | % | 448,111,011 | |||||
Liabilities in excess of other assets | (0.1 | ) | (491,362 | ) | ||||
|
|
|
| |||||
NET ASSETS | 100.0 | % | $ | 447,619,649 | ||||
|
|
|
|
† | Non-income producing security |
(1) | See Note 2 for details of Joint Repurchase Agreements. |
(2) | See Note 6 for cost of investments on a tax basis. |
ADR — American Depository Receipt
| ||
42 |
Table of Contents
Anchor Series Trust Growth Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | ||||||||||||||||
Common Stock: | ||||||||||||||||
Diversified Banking Institutions | $ | 25,924,686 | $ | — | $ | — | $ | 25,924,686 | ||||||||
Other Industries* | 411,346,325 | — | — | 411,346,325 | ||||||||||||
Repurchase Agreements | — | 10,840,000 | — | 10,840,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 437,271,011 | $ | 10,840,000 | $ | — | $ | 448,111,011 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry classification, please refer to the Portfolio of Investments. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.
See Notes to Financial Statements
| ||
43 |
Table of Contents
Anchor Series Trust Capital Appreciation Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
E-Commerce/Services | 5.6 | % | ||
Oil Companies-Exploration & Production | 4.2 | |||
Retail-Apparel/Shoe | 3.7 | |||
Retail-Restaurants | 3.7 | |||
Medical-Biomedical/Gene | 3.6 | |||
E-Commerce/Products | 3.4 | |||
Applications Software | 3.3 | |||
Repurchase Agreements | 3.0 | |||
Building & Construction Products-Misc. | 2.9 | |||
Medical-Drugs | 2.8 | |||
Computers-Memory Devices | 2.6 | |||
Web Portals/ISP | 2.4 | |||
Internet Content-Information/News | 2.2 | |||
Enterprise Software/Service | 2.0 | |||
Finance-Other Services | 2.0 | |||
Computer Software | 1.9 | |||
Retail-Building Products | 1.9 | |||
Electronic Components-Semiconductors | 1.9 | |||
Computers | 1.8 | |||
Coffee | 1.8 | |||
Auto/Truck Parts & Equipment-Original | 1.6 | |||
Containers-Paper/Plastic | 1.6 | |||
Pharmacy Services | 1.6 | |||
Computer Aided Design | 1.5 | |||
Electronic Design Automation | 1.5 | |||
Distribution/Wholesale | 1.5 | |||
Retail-Sporting Goods | 1.5 | |||
X-Ray Equipment | 1.4 | |||
Computers-Integrated Systems | 1.3 | |||
Semiconductor Components-Integrated Circuits | 1.3 | |||
Beverages-Non-alcoholic | 1.2 | |||
Real Estate Investment Trusts | 1.2 | |||
Food-Retail | 1.2 | |||
Insurance-Multi-line | 1.1 | |||
Medical Labs & Testing Services | 1.1 | |||
Computer Services | 1.1 | |||
Retail-Misc./Diversified | 1.1 | |||
Medical-Generic Drugs | 1.1 | |||
Telecom Equipment-Fiber Optics | 1.0 | |||
Retail-Home Furnishings | 1.0 | |||
Appliances | 1.0 | |||
Rental Auto/Equipment | 1.0 | |||
Electronic Measurement Instruments | 1.0 | |||
Insurance Brokers | 1.0 | |||
Cosmetics & Toiletries | 1.0 | |||
Casino Hotels | 1.0 | |||
Investment Management/Advisor Services | 0.9 | |||
Internet Content-Entertainment | 0.9 | |||
Brewery | 0.9 | |||
Hotels/Motels | 0.9 | |||
Publishing-Periodicals | 0.9 | |||
Telecommunication Equipment | 0.9 | |||
Recreational Centers | 0.9 | |||
Specified Purpose Acquisitions | 0.8 | |||
Filtration/Separation Products | 0.8 | |||
Paper & Related Products | 0.8 | |||
Networking Products | 0.8 | |||
Human Resources | 0.6 | |||
Containers-Metal/Glass | 0.5 | |||
Oil-Field Services | 0.5 | |||
Internet Incubators | 0.5 |
Heart Monitors | 0.4 | % | ||
Airlines | 0.2 | |||
Therapeutics | 0.2 | |||
Industrial Audio & Video Products | 0.1 | |||
|
| |||
101.1 | % | |||
|
|
* | Calculated as a percentage of net assets |
| ||
44 |
Table of Contents
Anchor Series Trust Capital Appreciation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK — 98.1% |
| |||||||
Airlines — 0.2% |
| |||||||
AirAsia X Bhd†(1)(3) | 6,453,100 | $ | 2,553,054 | |||||
|
| |||||||
Appliances — 1.0% |
| |||||||
Whirlpool Corp. | 100,880 | 11,536,637 | ||||||
|
| |||||||
Applications Software — 3.3% |
| |||||||
Imperva, Inc.† | 237,260 | 10,686,191 | ||||||
Red Hat, Inc.† | 221,920 | 10,612,214 | ||||||
ServiceNow, Inc.† | 385,890 | 15,586,097 | ||||||
|
| |||||||
36,884,502 | ||||||||
|
| |||||||
Auto/Truck Parts & Equipment-Original — 1.6% |
| |||||||
Allison Transmission Holdings, Inc. | 280,863 | 6,482,318 | ||||||
Tenneco, Inc.† | 265,765 | 12,033,839 | ||||||
|
| |||||||
18,516,157 | ||||||||
|
| |||||||
Beverages-Non-alcoholic — 1.2% |
| |||||||
Monster Beverage Corp.† | 218,560 | 13,281,891 | ||||||
|
| |||||||
Brewery — 0.9% |
| |||||||
Anheuser-Busch InBev NV ADR | 112,700 | 10,172,302 | ||||||
|
| |||||||
Building & Construction Products-Misc. — 2.9% |
| |||||||
Armstrong World Industries, Inc. | 287,256 | 13,727,964 | ||||||
Louisiana-Pacific Corp.† | 621,201 | 9,187,563 | ||||||
Owens Corning† | 255,800 | 9,996,664 | ||||||
|
| |||||||
32,912,191 | ||||||||
|
| |||||||
Casino Hotels — 1.0% |
| |||||||
Melco Crown Entertainment, Ltd. ADR† | 487,540 | 10,901,394 | ||||||
|
| |||||||
Coffee — 1.8% |
| |||||||
Green Mountain Coffee Roasters, Inc.† | 268,640 | 20,164,118 | ||||||
|
| |||||||
Computer Aided Design — 1.5% |
| |||||||
Autodesk, Inc.† | 512,190 | 17,383,729 | ||||||
|
| |||||||
Computer Services — 1.1% |
| |||||||
IHS, Inc., Class A† | 115,130 | 12,017,269 | ||||||
|
| |||||||
Computer Software — 1.9% |
| |||||||
Akamai Technologies, Inc.† | 423,860 | 18,035,243 | ||||||
Cornerstone OnDemand, Inc.† | 87,650 | 3,794,368 | ||||||
|
| |||||||
21,829,611 | ||||||||
|
| |||||||
Computers — 1.8% |
| |||||||
Apple, Inc. | 52,129 | 20,647,254 | ||||||
|
| |||||||
Computers-Integrated Systems — 1.3% |
| |||||||
Teradata Corp.† | 301,275 | 15,133,043 | ||||||
|
| |||||||
Computers-Memory Devices — 2.6% |
| |||||||
EMC Corp. | 739,066 | 17,456,739 | ||||||
SanDisk Corp.† | 201,130 | 12,289,043 | ||||||
|
| |||||||
29,745,782 | ||||||||
|
| |||||||
Containers-Metal/Glass — 0.5% |
| |||||||
Crown Holdings, Inc.† | 142,050 | 5,842,517 | ||||||
|
| |||||||
Containers-Paper/Plastic — 1.6% |
| |||||||
Rock-Tenn Co., Class A | 181,120 | 18,090,266 | ||||||
|
| |||||||
Cosmetics & Toiletries — 1.0% |
| |||||||
Coty, Inc.† | 652,558 | 11,210,946 | ||||||
|
| |||||||
Distribution/Wholesale — 1.5% |
| |||||||
HD Supply Holdings, Inc.† | 606,300 | 11,392,377 | ||||||
WESCO International, Inc.† | 78,820 | 5,356,607 | ||||||
|
| |||||||
16,748,984 | ||||||||
|
|
Security Description | Shares | Value (Note 2) | ||||||
E-Commerce/Products — 3.4% |
| |||||||
Amazon.com, Inc.† | 42,720 | $ | 11,862,917 | |||||
eBay, Inc.† | 510,717 | 26,414,283 | ||||||
|
| |||||||
38,277,200 | ||||||||
|
| |||||||
E-Commerce/Services — 5.6% |
| |||||||
IAC/InterActiveCorp | 194,930 | 9,270,871 | ||||||
Netflix, Inc.† | 52,190 | 11,016,787 | ||||||
priceline.com, Inc.† | 30,120 | 24,913,155 | ||||||
TripAdvisor, Inc.† | 238,080 | 14,491,930 | ||||||
Zillow, Inc., Class A† | 69,218 | 3,896,973 | ||||||
|
| |||||||
63,589,716 | ||||||||
|
| |||||||
Electronic Components-Semiconductors — 1.9% |
| |||||||
Micron Technology, Inc.† | 621,570 | 8,907,098 | ||||||
Xilinx, Inc. | 302,230 | 11,971,330 | ||||||
|
| |||||||
20,878,428 | ||||||||
|
| |||||||
Electronic Design Automation — 1.5% |
| |||||||
Cadence Design Systems, Inc.† | 1,164,960 | 16,868,621 | ||||||
|
| |||||||
Electronic Measurement Instruments — 1.0% |
| |||||||
National Instruments Corp. | 408,190 | 11,404,829 | ||||||
|
| |||||||
Enterprise Software/Service — 2.0% |
| |||||||
Concur Technologies, Inc.† | 231,590 | 18,846,794 | ||||||
Workday, Inc., Class A† | 66,080 | 4,235,067 | ||||||
|
| |||||||
23,081,861 | ||||||||
|
| |||||||
Filtration/Separation Products — 0.8% |
| |||||||
Polypore International, Inc.† | 214,910 | 8,660,873 | ||||||
|
| |||||||
Finance-Other Services — 2.0% |
| |||||||
IntercontinentalExchange, Inc.† | 82,010 | 14,578,098 | ||||||
WageWorks, Inc.† | 234,500 | 8,078,525 | ||||||
|
| |||||||
22,656,623 | ||||||||
|
| |||||||
Food-Retail — 1.2% |
| |||||||
Whole Foods Market, Inc. | 254,420 | 13,097,542 | ||||||
|
| |||||||
Heart Monitors — 0.4% |
| |||||||
HeartWare International, Inc.† | 50,800 | 4,831,588 | ||||||
|
| |||||||
Hotel/Motels — 0.9% |
| |||||||
Wyndham Worldwide Corp. | 177,190 | 10,140,584 | ||||||
|
| |||||||
Human Resources — 0.6% |
| |||||||
Team Health Holdings, Inc.† | 155,850 | 6,400,760 | ||||||
|
| |||||||
Industrial Audio & Video Products — 0.1% |
| |||||||
Imax Corp.† | 54,803 | 1,362,403 | ||||||
|
| |||||||
Insurance Brokers — 1.0% |
| |||||||
Aon PLC | 174,330 | 11,218,135 | ||||||
|
| |||||||
Insurance-Multi-line — 1.1% |
| |||||||
XL Group PLC | 405,310 | 12,288,999 | ||||||
|
| |||||||
Internet Content-Entertainment — 0.9% |
| |||||||
Facebook, Inc., Class A† | 422,490 | 10,503,101 | ||||||
|
| |||||||
Internet Content-Information/News — 2.2% |
| |||||||
LinkedIn Corp., Class A† | 139,910 | 24,945,953 | ||||||
|
| |||||||
Internet Incubators — 0.5% |
| |||||||
HomeAway, Inc.† | 171,420 | 5,543,723 | ||||||
|
| |||||||
Investment Management/Advisor Services — 0.9% |
| |||||||
BlackRock, Inc. | 41,170 | 10,574,515 | ||||||
|
| |||||||
Medical Labs & Testing Services — 1.1% |
| |||||||
Covance, Inc.† | 160,520 | 12,221,993 | ||||||
|
|
| ||
45 |
Table of Contents
Anchor Series Trust Capital Appreciation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Medical-Biomedical/Gene — 3.6% |
| |||||||
Arena Pharmaceuticals, Inc.† | 452,050 | $ | 3,480,785 | |||||
Gilead Sciences, Inc.† | 360,760 | 18,474,520 | ||||||
Regeneron Pharmaceuticals, Inc.† | 45,780 | 10,295,006 | ||||||
Vertex Pharmaceuticals, Inc.† | 101,249 | 8,086,758 | ||||||
|
| |||||||
40,337,069 | ||||||||
|
| |||||||
Medical-Drugs — 2.8% |
| |||||||
AstraZeneca PLC | 230,410 | 10,916,268 | ||||||
Bristol-Myers Squibb Co. | 279,629 | 12,496,620 | ||||||
Salix Pharmaceuticals, Ltd.† | 124,140 | 8,211,861 | ||||||
|
| |||||||
31,624,749 | ||||||||
|
| |||||||
Medical-Generic Drugs — 1.1% |
| |||||||
Actavis, Inc.† | 93,726 | 11,830,096 | ||||||
|
| |||||||
Networking Products — 0.8% |
| |||||||
Cisco Systems, Inc. | 349,360 | 8,492,942 | ||||||
|
| |||||||
Oil Companies-Exploration & Production — 4.2% |
| |||||||
Anadarko Petroleum Corp. | 158,190 | 13,593,267 | ||||||
Cabot Oil & Gas Corp. | 170,650 | 12,119,563 | ||||||
Cobalt International Energy, Inc.† | 215,100 | 5,715,207 | ||||||
Pioneer Natural Resources Co. | 113,440 | 16,420,440 | ||||||
|
| |||||||
47,848,477 | ||||||||
|
| |||||||
Oil-Field Services — 0.5% |
| |||||||
Trican Well Service, Ltd. | 424,600 | 5,644,108 | ||||||
�� |
|
| ||||||
Paper & Related Products — 0.8% |
| |||||||
International Paper Co. | 192,700 | 8,538,537 | ||||||
|
| |||||||
Pharmacy Services — 1.6% |
| |||||||
Catamaran Corp.† | 358,360 | 17,459,299 | ||||||
|
| |||||||
Publishing-Periodicals — 0.9% |
| |||||||
Nielsen Holdings NV | 298,100 | 10,013,179 | ||||||
|
| |||||||
Real Estate Investment Trusts — 1.2% |
| |||||||
Host Hotels & Resorts, Inc. | 781,239 | 13,179,502 | ||||||
|
| |||||||
Recreational Centers — 0.9% |
| |||||||
Life Time Fitness, Inc.† | 193,180 | 9,680,250 | ||||||
|
| |||||||
Rental Auto/Equipment — 1.0% |
| |||||||
Hertz Global Holdings, Inc.† | 461,870 | 11,454,376 | ||||||
|
| |||||||
Retail-Apparel/Shoe — 3.7% |
| |||||||
DSW, Inc., Class A | 151,110 | 11,102,052 | ||||||
Francesca’s Holdings Corp.† | 405,840 | 11,278,293 | ||||||
PVH Corp. | 98,410 | 12,306,170 | ||||||
Urban Outfitters, Inc.† | 181,930 | 7,317,225 | ||||||
|
| |||||||
42,003,740 | ||||||||
|
| |||||||
Retail-Building Products — 1.9% |
| |||||||
Lowe’s Cos., Inc. | 531,970 | 21,757,573 | ||||||
|
| |||||||
Retail-Home Furnishings — 1.0% |
| |||||||
Pier 1 Imports, Inc. | 491,210 | 11,538,523 | ||||||
|
| |||||||
Retail-Misc./Diversified — 1.1% |
| |||||||
Dufry AG† | 77,001 | 9,342,348 | ||||||
Five Below, Inc.† | 69,330 | 2,548,571 | ||||||
|
| |||||||
11,890,919 | ||||||||
|
| |||||||
Retail-Restaurants — 3.7% |
| |||||||
Bloomin’ Brands, Inc.† | 549,420 | 13,669,569 | ||||||
Buffalo Wild Wings, Inc.† | 133,851 | 13,138,814 | ||||||
Burger King Worldwide, Inc. | 737,915 | 14,396,722 | ||||||
|
| |||||||
41,205,105 | ||||||||
|
|
Security Description | Shares/ Principal Amount | Value (Note 2) | ||||||
Retail-Sporting Goods — 1.5% |
| |||||||
Dick’s Sporting Goods, Inc. | 328,370 | $ | 16,438,202 | |||||
|
| |||||||
Semiconductor Components-Integrated Circuits — 1.3% |
| |||||||
NXP Semiconductor NV† | 464,730 | 14,397,335 | ||||||
|
| |||||||
Specified Purpose Acquisitions — 0.8% |
| |||||||
Platform Acquisition Holdings, Ltd.† | 883,800 | 9,456,660 | ||||||
|
| |||||||
Telecom Equipment-Fiber Optics — 1.0% |
| |||||||
JDS Uniphase Corp.† | 813,970 | 11,704,889 | ||||||
|
| |||||||
Telecommunication Equipment — 0.9% |
| |||||||
Juniper Networks, Inc.† | 507,410 | 9,798,087 | ||||||
|
| |||||||
Therapeutics — 0.2% |
| |||||||
Onyx Pharmaceuticals, Inc.† | 16,490 | 2,046,739 | ||||||
|
| |||||||
Web Portals/ISP — 2.4% |
| |||||||
Dropbox, Inc.†(1)(2)(3) | 369,192 | 3,118,655 | ||||||
Trulia, Inc.† | 360,220 | 11,199,240 | ||||||
Yahoo!, Inc.† | 516,710 | 12,974,588 | ||||||
|
| |||||||
27,292,483 | ||||||||
|
| |||||||
X-Ray Equipment — 1.4% |
| |||||||
Hologic, Inc.† | 806,440 | 15,564,292 | ||||||
|
| |||||||
Total Common Stock | 1,105,316,225 | |||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Specified Purpose Acquisitions — 0.0% |
| |||||||
Platform Acquisition Holdings, Ltd. Expires 07/31/2020 | 883,800 | 0 | ||||||
|
| |||||||
Total Long-Term Investment Securities | 1,105,316,225 | |||||||
|
| |||||||
REPURCHASE AGREEMENTS — 3.0% |
| |||||||
Bank of America Securities LLC | $ | 555,000 | 555,000 | |||||
Barclays Capital PLC | 13,350,000 | 13,350,000 | ||||||
BNP Paribas SA | 5,710,000 | 5,710,000 | ||||||
Deutsche Bank AG | 585,000 | 585,000 | ||||||
Royal Bank of Scotland | 7,615,000 | 7,615,000 | ||||||
UBS Securities LLC | 5,385,000 | 5,385,000 | ||||||
|
| |||||||
Total Repurchase Agreements | 33,200,000 | |||||||
|
| |||||||
TOTAL INVESTMENTS | 101.1 | % | 1,138,516,225 | |||||
Liabilities in excess of other assets | (1.1 | ) | (12,122,070 | ) | ||||
|
|
|
| |||||
NET ASSETS | 100.0 | % | $ | 1,126,394,155 | ||||
|
|
|
|
† | Non-income producing security |
(1) | Illiquid security. At June 30, 2013, the aggregate value of these securities was $5,671,709 representing 0.5% of net assets. |
(2) | Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended (the “1933 Act”); (b) is subject to a contractual |
| ||
46 |
Table of Contents
Anchor Series Trust Capital Appreciation Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of June 30, 2013, the Capital Appreciation Portfolio held the following restricted securities: |
Name | Acquisition Date | Shares | Acquisition Cost | Value | Market Value Per Share | Value as a % of Net Assets | ||||||||||||||||||
Dropbox, Inc. Common Stock | 05/01/2012 | 369,192 | $ | 3,341,817 | $ | 3,118,655 | $ | 8.45 | 0.3 | % | ||||||||||||||
�� |
|
|
|
|
(3) | Fair valued security. Securities are classified as Level 3 based on the securities valuation inputs; see Note 2. |
(4) | See Note 2 for details of Joint Repurchase Agreements. |
(5) | See Note 6 for cost of investments on a tax basis. |
ADR | — American Depository Receipt |
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | ||||||||||||||||
Common Stock: | ||||||||||||||||
Airlines | $ | — | $ | — | $ | 2,553,054 | $ | 2,553,054 | ||||||||
E-Commerce/Services | 63,589,716 | — | — | 63,589,716 | ||||||||||||
Web Portals/ISP | 24,173,828 | — | 3,118,655 | 27,292,483 | ||||||||||||
Other Industries* | 1,011,880,972 | — | — | 1,011,880,972 | ||||||||||||
Warrants | — | 0 | — | 0 | ||||||||||||
Repurchase Agreements | — | 33,200,000 | — | 33,200,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 1,099,644,516 | $ | 33,200,000 | $ | 5,671,709 | $ | 1,138,516,225 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry classification, please refer to the Portfolio of Investments. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.
At the beginning and end of the reporting period, Level 3 investments in securities were not considered a material portion of the Portfolio.
See Notes to Financial Statements
| ||
47 |
Table of Contents
Anchor Series Trust Natural Resources Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
Oil Companies-Integrated | 25.2 | % | ||
Oil Companies-Exploration & Production | 24.6 | |||
Metal-Diversified | 6.8 | |||
Repurchase Agreements | 4.7 | |||
Oil-Field Services | 4.7 | |||
Diversified Minerals | 4.6 | |||
Chemicals-Diversified | 2.9 | |||
Oil Refining & Marketing | 2.8 | |||
Gold Mining | 2.6 | |||
Steel-Producers | 2.6 | |||
Coal | 2.5 | |||
Oil Field Machinery & Equipment | 2.2 | |||
Petrochemicals | 2.2 | |||
Metal-Copper | 1.6 | |||
Engineering/R&D Services | 1.5 | |||
Oil & Gas Drilling | 1.4 | |||
Agricultural Chemicals | 1.4 | |||
Building Products-Cement | 1.3 | |||
Metal-Iron | 1.2 | |||
Steel-Specialty | 1.0 | |||
Metal-Aluminum | 0.7 | |||
|
| |||
98.5 | % | |||
|
|
* | Calculated as a percentage of net assets |
| ||
48 |
Table of Contents
Anchor Series Trust Natural Resources Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK — 93.8% |
| |||||||
Agricultural Chemicals — 1.4% |
| |||||||
Mosaic Co. | 53,065 | $ | 2,855,428 | |||||
|
| |||||||
Building Products-Cement — 1.3% |
| |||||||
CRH PLC | 135,626 | 2,753,842 | ||||||
|
| |||||||
Chemicals-Diversified — 2.9% |
| |||||||
LyondellBasell Industries NV, Class A | 91,929 | 6,091,216 | ||||||
|
| |||||||
Coal — 2.5% |
| |||||||
CONSOL Energy, Inc. | 133,993 | 3,631,210 | ||||||
Mongolian Mining Corp.† | 8,490,820 | 1,554,524 | ||||||
|
| |||||||
5,185,734 | ||||||||
|
| |||||||
Diversified Minerals — 4.6% |
| |||||||
Anglo American PLC | 121,055 | 2,330,941 | ||||||
BHP Billiton PLC | 287,213 | 7,347,589 | ||||||
|
| |||||||
9,678,530 | ||||||||
|
| |||||||
Engineering/R&D Services — 1.5% |
| |||||||
KBR, Inc. | 94,400 | 3,068,000 | ||||||
|
| |||||||
Gold Mining — 2.6% |
| |||||||
Barrick Gold Corp. | 109,590 | 1,729,765 | ||||||
Goldcorp, Inc. | 78,500 | 1,949,625 | ||||||
Medusa Mining, Ltd. | 1,244,493 | 1,758,443 | ||||||
|
| |||||||
5,437,833 | ||||||||
|
| |||||||
Metal-Aluminum — 0.7% |
| |||||||
Alumina, Ltd.† | 1,718,347 | 1,547,941 | ||||||
|
| |||||||
Metal-Copper — 1.6% |
| |||||||
First Quantum Minerals, Ltd. | 220,100 | 3,264,771 | ||||||
|
| |||||||
Metal-Diversified — 6.8% |
| |||||||
Glencore Xstrata PLC | 1,037,988 | 4,296,506 | ||||||
Rio Tinto PLC | 243,041 | 9,917,793 | ||||||
|
| |||||||
14,214,299 | ||||||||
|
| |||||||
Metal-Iron — 1.2% |
| |||||||
Fortescue Metals Group, Ltd. | 931,410 | 2,589,536 | ||||||
|
| |||||||
Oil & Gas Drilling — 1.4% |
| |||||||
Patterson-UTI Energy, Inc. | 150,395 | 2,910,895 | ||||||
|
| |||||||
Oil Companies-Exploration & Production — 24.6% |
| |||||||
Anadarko Petroleum Corp. | 69,220 | 5,948,075 | ||||||
Beach Energy, Ltd. | 1,900,167 | 1,972,400 | ||||||
BG Group PLC | 655,420 | 11,149,888 | ||||||
Canadian Natural Resources, Ltd. | 112,400 | 3,168,831 | ||||||
Cobalt International Energy, Inc.† | 100,200 | 2,662,314 | ||||||
Encana Corp.(NYSE) | 87,185 | 1,476,914 | ||||||
Encana Corp.(TSE) | 78,222 | 1,323,162 | ||||||
EOG Resources, Inc. | 35,286 | 4,646,460 | ||||||
MEG Energy Corp.† | 143,900 | 3,944,696 | ||||||
Oil Search, Ltd. | 424,532 | 3,001,217 | ||||||
Ophir Energy PLC† | 528,276 | 2,868,428 | ||||||
Pioneer Natural Resources Co. | 42,360 | 6,131,610 | ||||||
Southwestern Energy Co.† | 85,518 | 3,123,972 | ||||||
|
| |||||||
51,417,967 | ||||||||
|
| |||||||
Oil Companies-Integrated — 25.2% |
| |||||||
BP PLC ADR | 234,040 | 9,768,830 | ||||||
Chevron Corp. | 93,972 | 11,120,646 | ||||||
Exxon Mobil Corp. | 61,294 | 5,537,913 | ||||||
Galp Energia SGPS SA | 203,660 | 3,015,443 | ||||||
Imperial Oil, Ltd. | 179,591 | 6,862,172 | ||||||
Petroleo Brasileiro SA ADR | 234,080 | 3,141,354 |
Security Description | Shares/ Principal Amount | Value (Note 2) | ||||||
Oil Companies-Integrated (continued) |
| |||||||
Phillips 66 | 101,380 | $ | 5,972,296 | |||||
Repsol SA | 88,572 | 1,868,846 | ||||||
Repsol SA ADR | 62,900 | 1,330,964 | ||||||
Statoil ASA ADR | 187,788 | 3,885,334 | ||||||
|
| |||||||
52,503,798 | ||||||||
|
| |||||||
Oil Field Machinery & Equipment — 2.2% |
| |||||||
Dril-Quip, Inc.† | 26,800 | 2,419,772 | ||||||
National Oilwell Varco, Inc. | 32,600 | 2,246,140 | ||||||
|
| |||||||
4,665,912 | ||||||||
|
| |||||||
Oil Refining & Marketing — 2.8% |
| |||||||
Marathon Petroleum Corp. | 48,960 | 3,479,098 | ||||||
Reliance Industries, Ltd. GDR (LSE)* | 79,723 | 2,295,225 | ||||||
Reliance Industries, Ltd. GDR (OTC)* | 610 | 17,562 | ||||||
|
| |||||||
5,791,885 | ||||||||
|
| |||||||
Oil-Field Services — 4.7% |
| |||||||
Baker Hughes, Inc. | 74,800 | 3,450,524 | ||||||
Halliburton Co. | 93,473 | 3,899,693 | ||||||
Schlumberger, Ltd. | 34,180 | 2,449,339 | ||||||
|
| |||||||
9,799,556 | ||||||||
|
| |||||||
Petrochemicals — 2.2% |
| |||||||
Mitsui Chemicals, Inc. | 2,017,000 | 4,555,435 | ||||||
|
| |||||||
Steel-Producers — 2.6% |
| |||||||
Nippon Steel & Sumitomo Metal Corp. | 1,993,970 | 5,388,021 | ||||||
|
| |||||||
Steel-Specialty — 1.0% |
| |||||||
Allegheny Technologies, Inc. | 77,209 | 2,031,369 | ||||||
|
| |||||||
Total Common Stock | 195,751,968 | |||||||
|
| |||||||
RIGHTS — 0.0% |
| |||||||
Oil Companies-Integrated — 0.0% |
| |||||||
Repsol SA† | 88,572 | 49,344 | ||||||
|
| |||||||
Total Long-Term Investment Securities | 195,801,312 | |||||||
|
| |||||||
REPURCHASE AGREEMENTS — 4.7% |
| |||||||
Bank of America Securities LLC | $ | 165,000 | 165,000 | |||||
Barclays Capital PLC | 3,975,000 | 3,975,000 | ||||||
BNP Paribas SA | 1,695,000 | 1,695,000 | ||||||
Deutsche Bank AG | 170,000 | 170,000 | ||||||
Royal Bank of Scotland | 2,260,000 | 2,260,000 | ||||||
UBS Securities LLC | 1,600,000 | 1,600,000 | ||||||
|
| |||||||
Total Repurchase Agreements | 9,865,000 | |||||||
|
| |||||||
TOTAL INVESTMENTS | 98.5 | % | 205,666,312 | |||||
Other assets less liabilities | 1.5 | 3,140,635 | ||||||
|
|
|
| |||||
NET ASSETS | 100.0 | % | $ | 208,806,947 | ||||
|
|
|
|
* | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions |
| ||
49 |
Table of Contents
Anchor Series Trust Natural Resources Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At June 30, 2013, the aggregate value of these securities was $2,312,787 representing 1.1% of net assets. Unless otherwise indicated these securities are not considered to be illiquid. |
† | Non-income producing security |
(1) | See Note 2 for details of Joint Repurchase Agreements. |
(2) | See Note 6 for cost of investments on a tax basis. |
ADR | — American Depository Receipt |
GDR | — Global Depository Receipt |
LSE | — London Stock Exchange |
NYSE | — New York Stock Exchange |
OTC | — Over the Counter |
TSE | — Toronto Stock Exchange |
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | ||||||||||||||||
Common Stock: | ||||||||||||||||
Metal-Diversified | $ | 14,214,299 | $ | — | $ | — | $ | 14,214,299 | ||||||||
Oil Companies — Exploration & Production | 51,417,967 | — | — | 51,417,967 | ||||||||||||
Oil Companies — Integrated | 52,503,798 | — | — | 52,503,798 | ||||||||||||
Other Industries* | 77,615,904 | — | — | 77,615,904 | ||||||||||||
Rights | 49,344 | — | — | 49,344 | ||||||||||||
Repurchase Agreements | — | 9,865,000 | — | 9,865,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 195,801,312 | $ | 9,865,000 | $ | — | $ | 205,666,312 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry classification, please refer to the Portfolio of Investments. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. Securities held at the beginning of the period currently valued at $54,206,779 were transferred from Level 2 to Level 1 for foreign equity securities whose values were previously adjusted for fair value pricing procedures for foreign equity securities. There were no additional transfers between levels during the reporting period.
See Notes to Financial Statements
| ||
50 |
Table of Contents
Anchor Series Trust Multi-Asset Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
United States Treasury Notes | 12.1 | % | ||
Repurchase Agreements | 10.8 | |||
Federal National Mtg. Assoc. | 5.8 | |||
Diversified Banking Institutions | 5.5 | |||
Federal Home Loan Mtg. Corp. | 5.3 | |||
Medical-Drugs | 3.7 | |||
Government National Mtg. Assoc. | 3.2 | |||
United States Treasury Bonds | 2.5 | |||
Investment Management/Advisor Services | 2.4 | |||
Banks-Super Regional | 2.3 | |||
Oil Companies-Integrated | 2.2 | |||
Medical-Biomedical/Gene | 2.2 | |||
Applications Software | 2.1 | |||
Retail-Drug Store | 1.9 | |||
Oil Companies-Exploration & Production | 1.8 | |||
Web Portals/ISP | 1.7 | |||
Telephone-Integrated | 1.7 | |||
Tobacco | 1.6 | |||
Medical-HMO | 1.6 | |||
Brewery | 1.6 | |||
Transport-Services | 1.5 | |||
Retail-Building Products | 1.5 | |||
Retail-Discount | 1.5 | |||
Oil & Gas Drilling | 1.4 | |||
Networking Products | 1.4 | |||
Computers-Memory Devices | 1.3 | |||
Enterprise Software/Service | 1.2 | |||
Cosmetics & Toiletries | 1.1 | |||
Machinery-Farming | 1.1 | |||
Computers | 1.1 | |||
Transport-Rail | 1.1 | |||
Diversified Manufacturing Operations | 1.0 | |||
Advertising Agencies | 1.0 | |||
Insurance-Life/Health | 1.0 | |||
E-Commerce/Products | 1.0 | |||
Computer Services | 0.9 | |||
Distribution/Wholesale | 0.9 | |||
Real Estate Investment Trusts | 0.8 | |||
Television | 0.8 | |||
Retail-Auto Parts | 0.8 | |||
Electric-Integrated | 0.7 | |||
Medical Products | 0.7 | |||
Medical-Wholesale Drug Distribution | 0.7 | |||
Building-Residential/Commercial | 0.7 | |||
Medical Instruments | 0.7 | |||
Coffee | 0.7 | |||
Casino Hotels | 0.6 | |||
Semiconductor Components-Integrated Circuits | 0.5 | |||
Airlines | 0.5 | |||
Building-Heavy Construction | 0.5 | |||
Financial Guarantee Insurance | 0.5 | |||
Multimedia | 0.4 | |||
Hotels/Motels | 0.4 | |||
Insurance-Mutual | 0.4 | |||
Retail-Apparel/Shoe | 0.4 | |||
Oil Field Machinery & Equipment | 0.4 | |||
Pharmacy Services | 0.4 | |||
Instruments-Controls | 0.3 | |||
Wire & Cable Products | 0.3 | |||
Telecom Equipment-Fiber Optics | 0.3 | |||
Insurance-Property/Casualty | 0.3 |
Toys | 0.3 | % | ||
E-Commerce/Services | 0.3 | |||
Machinery-Pumps | 0.3 | |||
Retail-Bedding | 0.3 | |||
Gold Mining | 0.3 | |||
Agricultural Operations | 0.3 | |||
Sovereign Agency | 0.2 | |||
Beverages-Non-alcoholic | 0.2 | |||
Motorcycle/Motor Scooter | 0.2 | |||
Aerospace/Defense-Equipment | 0.2 | |||
Auto-Cars/Light Trucks | 0.2 | |||
Web Hosting/Design | 0.2 | |||
Finance-Credit Card | 0.1 | |||
|
| |||
107.9 | % | |||
|
|
* | Calculated as a percentage of net assets |
| ||
51 |
Table of Contents
Anchor Series Trust Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK — 63.1% |
| |||||||
Advertising Agencies — 1.0% |
| |||||||
Interpublic Group of Cos., Inc. | 15,490 | $ | 225,380 | |||||
|
| |||||||
Aerospace/Defense-Equipment — 0.2% |
| |||||||
B/E Aerospace, Inc.† | 600 | 37,848 | ||||||
|
| |||||||
Applications Software — 2.1% |
| |||||||
Check Point Software Technologies, Ltd.† | 1,950 | 96,876 | ||||||
Microsoft Corp. | 10,725 | 370,334 | ||||||
|
| |||||||
467,210 | ||||||||
|
| |||||||
Banks-Super Regional — 2.3% |
| |||||||
PNC Financial Services Group, Inc. | 5,160 | 376,267 | ||||||
Wells Fargo & Co. | 3,210 | 132,477 | ||||||
|
| |||||||
508,744 | ||||||||
|
| |||||||
Beverages-Non-alcoholic — 0.2% |
| |||||||
Monster Beverage Corp.† | 640 | 38,893 | ||||||
|
| |||||||
Brewery — 1.6% |
| |||||||
Anheuser-Busch InBev NV ADR | 3,855 | 347,952 | ||||||
|
| |||||||
Building-Heavy Construction — 0.5% |
| |||||||
Chicago Bridge & Iron Co. NV | 1,805 | 107,686 | ||||||
|
| |||||||
Building-Residential/Commercial — 0.7% |
| |||||||
D.R. Horton, Inc. | 7,455 | 158,642 | ||||||
|
| |||||||
Casino Hotels — 0.6% |
| |||||||
Las Vegas Sands Corp. | 2,505 | 132,590 | ||||||
|
| |||||||
Coffee — 0.7% |
| |||||||
Green Mountain Coffee Roasters, Inc.† | 1,920 | 144,115 | ||||||
|
| |||||||
Computer Services — 0.9% |
| |||||||
Accenture PLC, Class A | 625 | 44,975 | ||||||
Cognizant Technology Solutions Corp., Class A† | 950 | 59,479 | ||||||
iGATE Corp.† | 2,800 | 45,976 | ||||||
International Business Machines Corp. | 290 | 55,422 | ||||||
|
| |||||||
205,852 | ||||||||
|
| |||||||
Computers — 1.1% |
| |||||||
Apple, Inc. | 590 | 233,687 | ||||||
|
| |||||||
Computers-Memory Devices — 1.3% |
| |||||||
EMC Corp. | 11,950 | 282,259 | ||||||
|
| |||||||
Cosmetics & Toiletries — 1.1% |
| |||||||
Procter & Gamble Co. | 3,165 | 243,673 | ||||||
|
| |||||||
Distribution/Wholesale — 0.9% |
| |||||||
WESCO International, Inc.† | 2,950 | 200,482 | ||||||
|
| |||||||
Diversified Banking Institutions — 4.3% |
| |||||||
Citigroup, Inc. | 9,490 | 455,235 | ||||||
JPMorgan Chase & Co. | 9,200 | 485,668 | ||||||
|
| |||||||
940,903 | ||||||||
|
| |||||||
Diversified Manufacturing Operations — 1.0% |
| |||||||
Eaton Corp. PLC | 3,485 | 229,348 | ||||||
|
| |||||||
E-Commerce/Products — 1.0% |
| |||||||
eBay, Inc.† | 4,225 | 218,517 | ||||||
|
| |||||||
E-Commerce/Services — 0.3% |
| |||||||
IAC/InterActiveCorp | 1,400 | 66,584 | ||||||
|
| |||||||
Electric-Integrated — 0.5% |
| |||||||
NextEra Energy, Inc. | 1,395 | 113,665 | ||||||
|
|
Security Description | Shares | Value (Note 2) | ||||||
Enterprise Software/Service — 1.2% |
| |||||||
Oracle Corp. | 8,180 | $ | 251,290 | |||||
|
| |||||||
Financial Guarantee Insurance — 0.5% |
| |||||||
Assured Guaranty, Ltd. | 4,460 | 98,388 | ||||||
|
| |||||||
Gold Mining — 0.3% |
| |||||||
Barrick Gold Corp. | 3,560 | 56,034 | ||||||
|
| |||||||
Hotel/Motels — 0.4% |
| |||||||
Starwood Hotels & Resorts Worldwide, Inc. | 1,520 | 96,049 | ||||||
|
| |||||||
Instruments-Controls — 0.3% |
| |||||||
Honeywell International, Inc. | 950 | 75,373 | ||||||
|
| |||||||
Insurance-Life/Health — 1.0% |
| |||||||
Aflac, Inc. | 3,265 | 189,762 | ||||||
Lincoln National Corp. | 855 | 31,182 | ||||||
|
| |||||||
220,944 | ||||||||
|
| |||||||
Investment Management/Advisor Services — 2.4% |
| |||||||
Ameriprise Financial, Inc. | 2,100 | 169,848 | ||||||
BlackRock, Inc. | 855 | 219,607 | ||||||
Waddell & Reed Financial, Inc., Class A | 2,965 | 128,977 | ||||||
|
| |||||||
518,432 | ||||||||
|
| |||||||
Machinery-Farming — 1.1% |
| |||||||
AGCO Corp. | 2,825 | 141,786 | ||||||
Deere & Co. | 1,195 | 97,094 | ||||||
|
| |||||||
238,880 | ||||||||
|
| |||||||
Machinery-Pumps — 0.3% |
| |||||||
Flowserve Corp. | 1,230 | 66,432 | ||||||
|
| |||||||
Medical Instruments — 0.7% |
| |||||||
St Jude Medical, Inc. | 3,190 | 145,560 | ||||||
|
| |||||||
Medical Products — 0.7% |
| |||||||
Covidien PLC | 2,580 | 162,127 | ||||||
|
| |||||||
Medical-Biomedical/Gene — 2.2% |
| |||||||
Amgen, Inc. | 3,980 | 392,667 | ||||||
Gilead Sciences, Inc.† | 1,560 | 79,887 | ||||||
|
| |||||||
472,554 | ||||||||
|
| |||||||
Medical-Drugs — 3.7% |
| |||||||
AstraZeneca PLC ADR | 1,665 | 78,754 | ||||||
Eli Lilly & Co. | 1,535 | 75,399 | ||||||
Johnson & Johnson | 1,865 | 160,129 | ||||||
Merck & Co., Inc. | 4,375 | 203,219 | ||||||
Pfizer, Inc. | 7,994 | 223,912 | ||||||
Zoetis, Inc. | 2,520 | 77,843 | ||||||
|
| |||||||
819,256 | ||||||||
|
| |||||||
Medical-HMO — 1.6% |
| |||||||
Aetna, Inc. | 1,500 | 95,310 | ||||||
Cigna Corp. | 1,430 | 103,661 | ||||||
UnitedHealth Group, Inc. | 2,300 | 150,604 | ||||||
|
| |||||||
349,575 | ||||||||
|
| |||||||
Medical-Wholesale Drug Distribution — 0.7% |
| |||||||
McKesson Corp. | 1,405 | 160,873 | ||||||
|
| |||||||
Motorcycle/Motor Scooter — 0.2% |
| |||||||
Harley-Davidson, Inc. | 700 | 38,374 | ||||||
|
| |||||||
Multimedia — 0.3% |
| |||||||
Walt Disney Co. | 1,100 | 69,465 | ||||||
|
|
| ||
52 |
Table of Contents
Anchor Series Trust Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value (Note 2) | ||||||
COMMON STOCK (continued) |
| |||||||
Networking Products — 1.4% |
| |||||||
Cisco Systems, Inc. | 12,460 | $ | 302,903 | |||||
|
| |||||||
Oil & Gas Drilling — 1.4% |
| |||||||
Ensco PLC, Class A | 5,280 | 306,874 | ||||||
|
| |||||||
Oil Companies-Exploration & Production — 1.8% |
| |||||||
Anadarko Petroleum Corp. | 2,635 | 226,426 | ||||||
Whiting Petroleum Corp.† | 3,405 | 156,936 | ||||||
|
| |||||||
383,362 | ||||||||
|
| |||||||
Oil Companies-Integrated — 2.2% |
| |||||||
BP PLC ADR | 1,670 | 69,706 | ||||||
Chevron Corp. | 3,435 | 406,498 | ||||||
|
| |||||||
476,204 | ||||||||
|
| |||||||
Oil Field Machinery & Equipment — 0.4% |
| |||||||
Cameron International Corp.† | 1,350 | 82,566 | ||||||
|
| |||||||
Pharmacy Services — 0.4% |
| |||||||
Express Scripts Holding Co.† | 1,300 | 80,197 | ||||||
|
| |||||||
Retail-Apparel/Shoe — 0.4% |
| |||||||
Ross Stores, Inc. | 1,350 | 87,494 | ||||||
|
| |||||||
Retail-Auto Parts — 0.8% |
| |||||||
AutoZone, Inc.† | 415 | 175,831 | ||||||
|
| |||||||
Retail-Bedding — 0.3% |
| |||||||
Bed Bath & Beyond, Inc.† | 800 | 56,720 | ||||||
|
| |||||||
Retail-Building Products — 1.5% |
| |||||||
Lowe’s Cos., Inc. | 8,065 | 329,858 | ||||||
|
| |||||||
Retail-Discount — 1.5% |
| |||||||
Dollar Tree, Inc.† | 3,815 | 193,955 | ||||||
Wal-Mart Stores, Inc. | 1,805 | 134,454 | ||||||
|
| |||||||
328,409 | ||||||||
|
| |||||||
Retail-Drug Store — 1.9% |
| |||||||
CVS Caremark Corp. | 4,440 | 253,879 | ||||||
Walgreen Co. | 3,825 | 169,065 | ||||||
|
| |||||||
422,944 | ||||||||
|
| |||||||
Semiconductor Components-Integrated Circuits — 0.5% |
| |||||||
NXP Semiconductor NV† | 2,430 | 75,282 | ||||||
QUALCOMM, Inc. | 665 | 40,618 | ||||||
|
| |||||||
115,900 | ||||||||
|
| |||||||
Telecom Equipment-Fiber Optics — 0.3% |
| |||||||
JDS Uniphase Corp.† | 5,020 | 72,188 | ||||||
|
| |||||||
Telephone-Integrated — 1.3% |
| |||||||
AT&T, Inc. | 7,715 | 273,111 | ||||||
|
| |||||||
Television — 0.8% |
| |||||||
CBS Corp., Class B | 3,640 | 177,887 | ||||||
|
| |||||||
Tobacco — 1.6% |
| |||||||
Altria Group, Inc. | 7,520 | 263,125 | ||||||
Philip Morris International, Inc. | 1,000 | 86,620 | ||||||
|
| |||||||
349,745 | ||||||||
|
| |||||||
Toys — 0.3% |
| |||||||
Mattel, Inc. | 1,540 | 69,777 | ||||||
|
| |||||||
Transport-Rail — 1.1% |
| |||||||
Norfolk Southern Corp. | 3,160 | 229,574 | ||||||
|
| |||||||
Transport-Services — 1.1% |
| |||||||
FedEx Corp. | 2,545 | 250,886 | ||||||
|
|
Security Description | Shares/ Principal Amount | Value (Note 2) | ||||||
Web Hosting/Design — 0.2% |
| |||||||
Web.com Group, Inc.† | 1,300 | $ | 33,280 | |||||
|
| |||||||
Web Portals/ISP — 1.7% |
| |||||||
Google, Inc., Class A† | 425 | 374,157 | ||||||
|
| |||||||
Wire & Cable Products — 0.3% |
| |||||||
Belden, Inc. | 1,500 | 74,895 | ||||||
|
| |||||||
Total Common Stock | 13,798,398 | |||||||
|
| |||||||
U.S. CORPORATE BONDS & NOTES — 4.9% |
| |||||||
Agricultural Operations — 0.3% |
| |||||||
Cargill, Inc. | $ | 53,000 | 55,886 | |||||
|
| |||||||
Airlines — 0.5% |
| |||||||
Continental Airlines, Inc. | 26,317 | 29,212 | ||||||
Southwest Airlines Co. | 50,000 | 55,471 | ||||||
Southwest Airlines Co. | 23,654 | 27,912 | ||||||
|
| |||||||
112,595 | ||||||||
|
| |||||||
Auto-Cars/Light Trucks — 0.2% |
| |||||||
Daimler Finance North America LLC | 25,000 | 35,372 | ||||||
|
| |||||||
Diversified Banking Institutions — 1.2% |
| |||||||
Goldman Sachs Group, Inc. | 100,000 | 108,378 | ||||||
JPMorgan Chase & Co. | 35,000 | 41,055 | ||||||
Morgan Stanley | 100,000 | 108,075 | ||||||
|
| |||||||
257,508 | ||||||||
|
| |||||||
Electric-Integrated — 0.2% |
| |||||||
Consolidated Edison Co. of New York, Inc. | 35,000 | 39,538 | ||||||
Duke Energy Carolinas LLC | 10,000 | 11,419 | ||||||
|
| |||||||
50,957 | ||||||||
|
| |||||||
Finance-Credit Card — 0.1% |
| |||||||
Discover Financial Services | 10,000 | 11,360 | ||||||
|
| |||||||
Insurance-Mutual — 0.4% |
| |||||||
Liberty Mutual Insurance Co. | 75,000 | 91,398 | ||||||
|
|
| ||
53 |
Table of Contents
Anchor Series Trust Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
U.S. CORPORATE BONDS & NOTES (continued) |
| |||||||
Insurance-Property/Casualty — 0.3% |
| |||||||
ACE Capital Trust II | $ | 50,000 | $ | 71,187 | ||||
|
| |||||||
Investment Management/Advisor Services — 0.0% |
| |||||||
Eaton Vance Corp. | 3,000 | 3,453 | ||||||
|
| |||||||
Multimedia — 0.1% |
| |||||||
News America, Inc. | 25,000 | 27,925 | ||||||
|
| |||||||
Real Estate Investment Trusts — 0.8% |
| |||||||
Brandywine Operating Partnership LP | 25,000 | 27,450 | ||||||
HCP, Inc. | 15,000 | 16,827 | ||||||
Kimco Realty Corp. | 40,000 | 44,186 | ||||||
Liberty Property LP | 10,000 | 11,407 | ||||||
Realty Income Corp. | 15,000 | 17,696 | ||||||
Simon Property Group LP | 55,000 | 61,680 | ||||||
|
| |||||||
179,246 | ||||||||
|
| |||||||
Telephone-Integrated — 0.4% |
| |||||||
AT&T, Inc. | 40,000 | 45,573 | ||||||
AT&T, Inc. | 10,000 | 11,771 | ||||||
BellSouth Corp. | 5,000 | 5,129 | ||||||
BellSouth Corp. | 20,000 | 21,838 | ||||||
|
| |||||||
84,311 | ||||||||
|
| |||||||
Transport-Services — 0.4% |
| |||||||
Federal Express Corp. | 69,017 | 82,820 | ||||||
|
| |||||||
Total U.S. Corporate Bonds & Notes | 1,064,018 | |||||||
|
| |||||||
U.S. GOVERNMENT AGENCIES — 14.5% |
| |||||||
Federal Home Loan Mtg. Corp. — 5.3% |
| |||||||
4.00% due July TBA | 300,000 | 311,965 | ||||||
4.50% due 02/01/2039 | 377,026 | 396,963 | ||||||
5.00% due 11/01/2038 | 174,146 | 185,661 |
Security Description | Principal Amount | Value (Note 2) | ||||||
Federal Home Loan Mtg. Corp. (continued) |
| |||||||
5.00% due 02/01/2039 | $ | 48,689 | $ | 51,908 | ||||
5.50% due July TBA | 200,000 | 215,156 | ||||||
|
| |||||||
1,161,653 | ||||||||
|
| |||||||
Federal National Mtg. Assoc. — 5.8% |
| |||||||
3.50% due July TBA | 50,000 | 50,758 | ||||||
4.50% due July TBA | 900,000 | 952,313 | ||||||
5.00% due 03/01/2019 | 118,597 | 126,648 | ||||||
5.00% due 04/01/2019 | 27,442 | 29,502 | ||||||
6.00% due 06/01/2040 | 95,915 | 104,374 | ||||||
|
| |||||||
1,263,595 | ||||||||
|
| |||||||
Government National Mtg. Assoc. — 3.2% |
| |||||||
5.00% due 11/15/2034 | 67,960 | 74,110 | ||||||
5.00% due 11/15/2035 | 82,142 | 89,102 | ||||||
5.50% due 04/15/2034 | 56,416 | 61,873 | ||||||
6.00% due July TBA | 200,000 | 221,883 | ||||||
6.50% due 08/15/2023 | 586 | 664 | ||||||
6.50% due 09/15/2023 | 4,598 | 5,207 | ||||||
6.50% due 10/15/2023 | 566 | 641 | ||||||
6.50% due 11/15/2023 | 45,997 | 50,830 | ||||||
6.50% due 12/15/2023 | 67,075 | 73,872 | ||||||
6.50% due 09/15/2028 | 4,061 | 4,495 | ||||||
6.50% due 11/15/2028 | 13,831 | 15,903 | ||||||
6.50% due 10/15/2031 | 1,491 | 1,661 | ||||||
6.50% due 02/15/2035 | 42,750 | 50,432 | ||||||
7.00% due 01/15/2033 | 6,883 | 8,254 | ||||||
7.00% due 05/15/2033 | 41,530 | 49,647 | ||||||
|
| |||||||
708,574 | ||||||||
|
| |||||||
Sovereign Agency — 0.2% |
| |||||||
Financing Corp. STRIPS | 25,000 | 24,933 | ||||||
Series 13 | 25,000 | 24,925 | ||||||
|
| |||||||
49,858 | ||||||||
|
| |||||||
Total U.S. Government Agencies | 3,183,680 | |||||||
|
| |||||||
U.S. GOVERNMENT TREASURIES — 14.6% |
| |||||||
United States Treasury Bonds — 2.5% |
| |||||||
2.88% due 05/15/2043 | 115,000 | 101,775 | ||||||
3.13% due 02/15/2043 | 160,000 | 149,350 | ||||||
4.38% due 11/15/2039 | 40,000 | 46,887 | ||||||
4.63% due 02/15/2040 | 210,000 | 255,905 | ||||||
|
| |||||||
553,917 | ||||||||
|
| |||||||
United States Treasury Notes — 12.1% |
| |||||||
0.13% due 04/30/2015 | 600,000 | 597,727 | ||||||
1.00% due 05/31/2018 | 500,000 | 491,406 | ||||||
1.25% due 10/31/2015 | 300,000 | 305,531 | ||||||
1.63% due 08/15/2022 | 405,000 | 379,972 | ||||||
1.63% due 11/15/2022 | 70,000 | 65,346 | ||||||
1.75% due 05/15/2023 | 275,000 | 257,555 | ||||||
3.88% due 05/15/2018 | 300,000 | 336,094 | ||||||
4.63% due 02/15/2017 | 175,000 | 198,133 | ||||||
|
| |||||||
2,631,764 | ||||||||
|
| |||||||
Total U.S. Government Treasuries | 3,185,681 | |||||||
|
| |||||||
Total Long-Term Investment Securities | 21,231,777 | |||||||
|
|
| ||
54 |
Table of Contents
Anchor Series Trust Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount | Value (Note 2) | ||||||
REPURCHASE AGREEMENTS — 10.8% | ||||||||
Bank of America Securities LLC Joint Repurchase Agreement(1) | $ | 35,000 | $ | 35,000 | ||||
Barclays Capital PLC | 960,000 | 960,000 | ||||||
BNP Paribas SA | 405,000 | 405,000 | ||||||
Deutsche Bank AG | 40,000 | 40,000 | ||||||
Royal Bank of Scotland | 540,000 | 540,000 | ||||||
UBS Securities LLC | 380,000 | 380,000 | ||||||
|
| |||||||
Total Repurchase Agreements | 2,360,000 | |||||||
|
| |||||||
TOTAL INVESTMENTS | 107.9 | % | 23,591,777 | |||||
Liabilities in excess of other assets | (7.9 | ) | (1,731,266 | ) | ||||
|
|
|
| |||||
NET ASSETS | 100.0 | % | $ | 21,860,511 | ||||
|
|
|
|
† | Non-income producing security |
* | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At June 30, 2013, the aggregate value of these securities was $147,284 representing 0.7% of net assets. Unless otherwise indicated these securities are not considered to be illiquid. |
(1) | See Note 2 for details of Joint Repurchase Agreements. |
(2) | See Note 6 for cost of investments on a tax basis. |
ADR — American Depository Receipt
STRIPS — Separate trading of registered interest and principal of securities.
TBA — Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal and maturity date will be determined upon settlement date.
Open Futures Contracts | ||||||||||||||||||||
Number of Contracts | Type | Description | Expiration Date | Value at Trade Date | Value as of June 30, 2013 | Unrealized Appreciation (Depreciation) | ||||||||||||||
3 | Short | S&P 500 E-Mini Index | September 2013 | $ | 240,593 | $ | 239,895 | $ | 698 | |||||||||||
2 | Short | U.S. Treasury 5 Year Note | September 2013 | 243,281 | 242,094 | 1,187 | ||||||||||||||
1 | Short | U.S. Treasury 10 Year Note | September 2013 | 126,422 | 126,563 | (141 | ) | |||||||||||||
|
| |||||||||||||||||||
$ | 1,744 | |||||||||||||||||||
|
|
| ||
55 |
Table of Contents
Anchor Series Trust Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | ||||||||||||||||
Common Stock | $ | 13,798,398 | $ | — | $ | — | $ | 13,798,398 | ||||||||
U.S. Corporate Bonds & Notes: | ||||||||||||||||
Transport-Services | — | — | 82,820 | 82,820 | ||||||||||||
Other Industries* | — | 981,198 | — | 981,198 | ||||||||||||
U.S. Government Agencies: | ||||||||||||||||
Federal Home Loan Mtg. Corp. | — | 1,161,653 | — | 1,161,653 | ||||||||||||
Federal National Mtg. Assoc. | — | 1,263,595 | — | 1,263,595 | ||||||||||||
Other Government Agencies* | — | 758,432 | — | 758,432 | ||||||||||||
U.S. Government Treasuries: | ||||||||||||||||
United States Treasury Bonds | — | 553,917 | — | 553,917 | ||||||||||||
United States Treasury Notes | — | 2,631,764 | — | 2,631,764 | ||||||||||||
Repurchase Agreements | — | 2,360,000 | — | 2,360,000 | ||||||||||||
Other Financial Instruments:@ | ||||||||||||||||
Open Futures Contracts — Appreciation | 1,885 | — | — | 1,885 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 13,800,283 | $ | 9,710,559 | $ | 82,820 | $ | 23,593,662 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities: | ||||||||||||||||
Other Financial Instruments:@ | ||||||||||||||||
Open Futures Contracts — Depreciation | $ | 141 | $ | — | $ | — | $ | 141 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries or government agencies each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry or government agency classification, please refer to the Portfolio of Investments. |
@ | Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, forwards, swap and written options contracts, which are valued at the unrealized appreciation (depreciation) on the instrument. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.
At the beginning and end of the reporting period, Level 3 investments in securities were not considered a material portion of the Portfolio.
See Notes to Financial Statements
| ||
56 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO PROFILE — June 30, 2013 — (unaudited)
Industry Allocation*
Sovereign | 27.2 | % | ||
Medical-Drugs | 5.2 | |||
Diversified Banking Institutions | 3.7 | |||
Oil Companies-Exploration & Production | 2.8 | |||
Repurchase Agreements | 2.8 | |||
Insurance-Multi-line | 2.5 | |||
Medical-Biomedical/Gene | 2.4 | |||
Investment Management/Advisor Services | 2.1 | |||
Brewery | 1.8 | |||
Retail-Restaurants | 1.7 | |||
Real Estate Investment Trusts | 1.6 | |||
Aerospace/Defense | 1.6 | |||
Semiconductor Components-Integrated Circuits | 1.6 | |||
Auto/Truck Parts & Equipment-Original | 1.5 | |||
Insurance-Life/Health | 1.4 | |||
E-Commerce/Products | 1.3 | |||
Beverages-Wine/Spirits | 1.3 | |||
Industrial Gases | 1.3 | |||
Gas-Transportation | 1.3 | |||
Medical-Wholesale Drug Distribution | 1.2 | |||
Cosmetics & Toiletries | 1.1 | |||
United States Treasury Notes | 1.1 | |||
Auto-Cars/Light Trucks | 1.1 | |||
Networking Products | 1.1 | |||
Telephone-Integrated | 1.0 | |||
Diversified Manufacturing Operations | 1.0 | |||
Computers-Memory Devices | 1.0 | |||
Engines-Internal Combustion | 1.0 | |||
Instruments-Controls | 0.9 | |||
Insurance-Property/Casualty | 0.9 | |||
Commercial Services-Finance | 0.9 | |||
Oil-Field Services | 0.9 | |||
Diversified Financial Services | 0.9 | |||
Television | 0.8 | |||
Gas-Distribution | 0.8 | |||
Finance-Other Services | 0.7 | |||
Beverages-Non-alcoholic | 0.7 | |||
Retail-Convenience Store | 0.7 | |||
Electronic Parts Distribution | 0.7 | |||
Electric Products-Misc. | 0.7 | |||
Therapeutics | 0.7 | |||
Web Portals/ISP | 0.7 | |||
Casino Hotels | 0.7 | |||
Apparel Manufacturers | 0.7 | |||
Transport-Rail | 0.7 | |||
Multimedia | 0.6 | |||
Metal Processors & Fabrication | 0.6 | |||
Banks-Commercial | 0.6 | |||
Finance-Investment Banker/Broker | 0.6 | |||
Distribution/Wholesale | 0.6 | |||
Retail-Discount | 0.6 | |||
Retail-Apparel/Shoe | 0.6 | |||
Containers-Metal/Glass | 0.5 | |||
Computer Services | 0.5 | |||
Water | 0.5 | |||
Computers | 0.5 | |||
Applications Software | 0.5 | |||
Chemicals-Diversified | 0.5 | |||
Machinery-Electrical | 0.4 | |||
Computers-Integrated Systems | 0.4 | |||
Chemicals-Specialty | 0.4 |
Machinery-General Industrial | 0.4 | % | ||
E-Commerce/Services | 0.4 | |||
Electronic Measurement Instruments | 0.4 | |||
Oil Companies-Integrated | 0.3 | |||
Airlines | 0.3 | |||
Enterprise Software/Service | 0.3 | |||
Electronic Components-Misc. | 0.3 | |||
United States Treasury Bonds | 0.3 | |||
Real Estate Management/Services | 0.2 | |||
Paper & Related Products | 0.2 | |||
Audio/Video Products | 0.2 | |||
Machine Tools & Related Products | 0.1 | |||
Real Estate Operations & Development | 0.1 | |||
Rental Auto/Equipment | 0.1 | |||
Disposable Medical Products | 0.1 | |||
|
| |||
99.9 | % | |||
|
|
Country Allocation*
United States | 37.4 | % | ||||||
Japan | 9.7 | |||||||
United Kingdom | 7.7 | |||||||
France | 6.2 | |||||||
Canada | 3.7 | |||||||
Sweden | 3.3 | |||||||
Mexico | 2.9 | |||||||
South Africa | 2.7 | |||||||
Singapore | 2.6 | |||||||
Italy | 2.5 | |||||||
Ireland | 2.4 | |||||||
Norway | 2.4 | |||||||
Australia | 2.2 | |||||||
Poland | 2.1 | |||||||
Belgium | 1.9 | |||||||
Denmark | 1.7 | |||||||
Germany | 1.7 | |||||||
Switzerland | 1.3 | |||||||
Bermuda | 0.9 | |||||||
Spain | 0.9 | |||||||
China | 0.7 | |||||||
Cayman Islands | 0.7 | |||||||
Netherlands | 0.7 | |||||||
Brazil | 0.5 | |||||||
Hong Kong | 0.5 | |||||||
Finland | 0.4 | |||||||
India | 0.1 | |||||||
Austria | 0.1 | |||||||
|
|
|
| |||||
99.9 | % | |||||||
|
|
|
|
* | Calculated as a percentage of net assets |
| ||
57 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCK — 67.9% | ||||||||
Aerospace/Defense — 1.6% | ||||||||
BAE Systems PLC | 31,015 | $ | 180,670 | |||||
Rolls-Royce Holdings PLC | 8,949 | 154,348 | ||||||
|
| |||||||
335,018 | ||||||||
|
| |||||||
Airlines — 0.3% | ||||||||
Delta Air Lines, Inc.† | 3,720 | 69,601 | ||||||
|
| |||||||
Apparel Manufacturers — 0.7% | ||||||||
VF Corp. | 750 | 144,795 | ||||||
|
| |||||||
Applications Software — 0.5% | ||||||||
ServiceNow, Inc.† | 2,700 | 109,053 | ||||||
|
| |||||||
Audio/Video Products — 0.2% | ||||||||
Skyworth Digital Holdings, Ltd. | 74,000 | 37,496 | ||||||
|
| |||||||
Auto-Cars/Light Trucks — 1.1% | ||||||||
Ford Motor Co. | 15,370 | 237,774 | ||||||
|
| |||||||
Auto/Truck Parts & Equipment-Original — 1.5% |
| |||||||
Aisin Seiki Co., Ltd. | 4,300 | 164,534 | ||||||
TRW Automotive Holdings Corp.† | 2,520 | 167,429 | ||||||
|
| |||||||
331,963 | ||||||||
|
| |||||||
Banks-Commercial — 0.6% | ||||||||
Banca Generali SpA | 2,829 | 60,980 | ||||||
Intesa Sanpaolo SpA | 24,382 | 39,068 | ||||||
Shizuoka Bank, Ltd. | 3,000 | 32,335 | ||||||
|
| |||||||
132,383 | ||||||||
|
| |||||||
Beverages-Non-alcoholic — 0.7% | ||||||||
Monster Beverage Corp.† | 2,600 | 158,002 | ||||||
|
| |||||||
Beverages-Wine/Spirits — 1.3% | ||||||||
Diageo PLC | 9,176 | 262,377 | ||||||
United Spirits, Ltd. GDR | 1,456 | 26,557 | ||||||
|
| |||||||
288,934 | ||||||||
|
| |||||||
Brewery — 1.8% | ||||||||
Anheuser-Busch InBev NV | 4,259 | 379,135 | ||||||
|
| |||||||
Casino Hotels — 0.7% | ||||||||
MGM China Holdings, Ltd. | 54,430 | 145,267 | ||||||
|
| |||||||
Chemicals-Diversified — 0.5% | ||||||||
Lanxess AG | 1,748 | 105,300 | ||||||
|
| |||||||
Chemicals-Specialty — 0.4% | ||||||||
Brenntag AG | 529 | 80,356 | ||||||
|
| |||||||
Commercial Services-Finance — 0.9% | ||||||||
Mastercard, Inc., Class A | 335 | 192,458 | ||||||
|
| |||||||
Computer Services — 0.5% | ||||||||
Accenture PLC, Class A | 1,600 | 115,136 | ||||||
|
| |||||||
Computers — 0.5% | ||||||||
Lenovo Group, Ltd. | 122,000 | 111,209 | ||||||
|
| |||||||
Computers-Integrated Systems — 0.4% | ||||||||
Teradata Corp.† | 1,700 | 85,391 | ||||||
|
| |||||||
Computers-Memory Devices — 1.0% | ||||||||
EMC Corp. | 8,920 | 210,690 | ||||||
|
| |||||||
Containers-Metal/Glass — 0.5% | ||||||||
Rexam PLC | 16,126 | 117,116 | ||||||
|
| |||||||
Cosmetics & Toiletries — 1.1% | ||||||||
Estee Lauder Cos., Inc., Class A | 3,700 | 243,349 | ||||||
|
| |||||||
Disposable Medical Products — 0.1% | ||||||||
Shandong Weigao Group Medical | 20,000 | 21,815 | ||||||
|
|
Security Description | Shares | Value | ||||||
Distribution/Wholesale — 0.6% | ||||||||
LKQ Corp.† | 4,860 | $ | 125,145 | |||||
|
| |||||||
Diversified Banking Institutions — 3.7% | ||||||||
Bank of America Corp. | 8,130 | 104,552 | ||||||
BNP Paribas SA | 4,277 | 233,681 | ||||||
Citigroup, Inc. | 2,200 | 105,534 | ||||||
Lloyds Banking Group PLC† | 139,249 | 133,767 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 35,280 | 217,699 | ||||||
|
| |||||||
795,233 | ||||||||
|
| |||||||
Diversified Financial Services — 0.9% | ||||||||
Julius Baer Group, Ltd. | 4,860 | 189,810 | ||||||
|
| |||||||
Diversified Manufacturing Operations — 1.0% |
| |||||||
Illinois Tool Works, Inc. | 3,050 | 210,969 | ||||||
|
| |||||||
E-Commerce/Products — 1.3% | ||||||||
Amazon.com, Inc.† | 675 | 187,441 | ||||||
Rakuten, Inc. | 8,600 | 101,712 | ||||||
|
| |||||||
289,153 | ||||||||
|
| |||||||
E-Commerce/Services — 0.4% | ||||||||
Expedia, Inc. | 1,300 | 78,195 | ||||||
|
| |||||||
Electric Products-Misc. — 0.7% | ||||||||
AMETEK, Inc. | 3,580 | 151,434 | ||||||
|
| |||||||
Electronic Components-Misc. — 0.3% | ||||||||
Omron Corp. | 1,800 | 53,575 | ||||||
|
| |||||||
Electronic Measurement Instruments — 0.4% |
| |||||||
Trimble Navigation, Ltd.† | 2,880 | 74,909 | ||||||
|
| |||||||
Electronic Parts Distribution — 0.7% | ||||||||
Rexel SA | 6,779 | 152,477 | ||||||
|
| |||||||
Engines-Internal Combustion — 1.0% | ||||||||
Cummins, Inc. | 1,900 | 206,074 | ||||||
|
| |||||||
Enterprise Software/Service — 0.3% | ||||||||
Nomura Research Institute, Ltd. | 1,800 | 58,621 | ||||||
|
| |||||||
Finance-Investment Banker/Broker — 0.6% | ||||||||
Nomura Holdings, Inc. | 17,700 | 130,457 | ||||||
|
| |||||||
Finance-Other Services — 0.7% | ||||||||
IntercontinentalExchange, Inc.† | 900 | 159,984 | ||||||
|
| |||||||
Gas-Distribution — 0.8% | ||||||||
National Grid PLC | 14,536 | 164,930 | ||||||
|
| |||||||
Gas-Transportation — 1.3% | ||||||||
Snam SpA | 58,851 | 268,112 | ||||||
|
| |||||||
Industrial Gases — 1.3% | ||||||||
Air Liquide SA | 2,327 | 287,355 | ||||||
|
| |||||||
Instruments-Controls — 0.9% | ||||||||
Honeywell International, Inc. | 2,530 | 200,730 | ||||||
|
| |||||||
Insurance-Life/Health — 1.4% | ||||||||
China Pacific Insurance Group Co., Ltd. | 33,800 | 107,858 | ||||||
T&D Holdings, Inc. | 15,060 | 202,561 | ||||||
|
| |||||||
310,419 | ||||||||
|
| |||||||
Insurance-Multi-line — 2.5% | ||||||||
AXA SA | 14,217 | 279,341 | ||||||
Direct Line Insurance Group PLC | 23,381 | 82,858 | ||||||
XL Group PLC | 5,430 | 164,638 | ||||||
|
| |||||||
526,837 | ||||||||
|
|
| ||
58 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Shares | Value | ||||||
COMMON STOCK (continued) | ||||||||
Insurance-Property/Casualty — 0.9% | ||||||||
Tokio Marine Holdings, Inc. | 6,300 | $ | 199,773 | |||||
|
| |||||||
Investment Management/Advisor Services — 2.1% |
| |||||||
Ameriprise Financial, Inc. | 2,090 | 169,039 | ||||||
BlackRock, Inc. | 350 | 89,897 | ||||||
Invesco, Ltd. | 2,700 | 85,860 | ||||||
Virtus Investment Partners, Inc.† | 250 | 44,068 | ||||||
WisdomTree Investments, Inc.† | 4,600 | 53,222 | ||||||
|
| |||||||
442,086 | ||||||||
|
| |||||||
Machine Tools & Related Products — 0.1% |
| |||||||
THK Co., Ltd. | 1,400 | 29,431 | ||||||
|
| |||||||
Machinery-Electrical — 0.4% | ||||||||
Mitsubishi Electric Corp. | 9,900 | 92,731 | ||||||
|
| |||||||
Machinery-General Industrial — 0.4% | ||||||||
Kone Oyj, Class B | 996 | 79,148 | ||||||
|
| |||||||
Medical-Biomedical/Gene — 2.4% | ||||||||
Arena Pharmaceuticals, Inc.† | 7,640 | 58,828 | ||||||
Celgene Corp.† | 1,100 | 128,601 | ||||||
Gilead Sciences, Inc.† | 2,980 | 152,606 | ||||||
Regeneron Pharmaceuticals, Inc.† | 810 | 182,153 | ||||||
|
| |||||||
522,188 | ||||||||
|
| |||||||
Medical-Drugs — 5.2% | ||||||||
Alkermes PLC† | 8,581 | 246,103 | ||||||
Bristol-Myers Squibb Co. | 5,330 | 238,198 | ||||||
Eli Lilly & Co. | 3,800 | 186,656 | ||||||
Merck & Co., Inc. | 5,560 | 258,262 | ||||||
Zoetis, Inc. | 5,900 | 182,251 | ||||||
|
| |||||||
1,111,470 | ||||||||
|
| |||||||
Medical-Wholesale Drug Distribution — 1.2% |
| |||||||
McKesson Corp. | 1,980 | 226,710 | ||||||
Sinopharm Group Co., Ltd. | 10,200 | 25,618 | ||||||
|
| |||||||
252,328 | ||||||||
|
| |||||||
Metal Processors & Fabrication — 0.6% |
| |||||||
Assa Abloy AB, Class B | 3,392 | 132,926 | ||||||
|
| |||||||
Multimedia — 0.6% | ||||||||
Time Warner, Inc. | 2,350 | 135,877 | ||||||
|
| |||||||
Networking Products — 1.1% | ||||||||
Cisco Systems, Inc. | 9,700 | 235,807 | ||||||
|
| |||||||
Oil Companies-Exploration & Production — 2.8% |
| |||||||
Anadarko Petroleum Corp. | 2,990 | 256,931 | ||||||
BG Group PLC | 5,257 | 89,431 | ||||||
Kunlun Energy Co., Ltd. | 32,340 | 57,458 | ||||||
Pioneer Natural Resources Co. | 1,400 | 202,650 | ||||||
|
| |||||||
606,470 | ||||||||
|
| |||||||
Oil Companies-Integrated — 0.3% | ||||||||
Phillips 66 | 1,200 | 70,692 | ||||||
|
| |||||||
Oil-Field Services — 0.9% | ||||||||
Halliburton Co. | 4,600 | 191,912 | ||||||
|
| |||||||
Paper & Related Products — 0.2% | ||||||||
International Paper Co. | 940 | 41,651 | ||||||
|
| |||||||
Real Estate Investment Trusts — 1.6% | ||||||||
Fibra Uno Administracion SA de CV | 20,600 | 69,173 | ||||||
Hammerson PLC | 7,496 | 55,557 | ||||||
Macquarie Mexico Real Estate Management SA de CV | 10,900 | 23,554 |
Security Description | Shares | Value | ||||||
Real Estate Investment Trusts (continued) |
| |||||||
Unibail-Rodamco SE | 710 | $ | 165,427 | |||||
Westfield Group | 2,339 | 24,472 | ||||||
|
| |||||||
338,183 | ||||||||
|
| |||||||
Real Estate Management/Services — 0.2% |
| |||||||
Deutsche Wohnen AG | 3,086 | 52,400 | ||||||
|
| |||||||
Real Estate Operations & Development — 0.1% |
| |||||||
Mitsui Fudosan Co., Ltd. | 1,000 | 29,411 | ||||||
|
| |||||||
Rental Auto/Equipment — 0.1% | ||||||||
Hertz Global Holdings, Inc.† | 1,050 | 26,040 | ||||||
|
| |||||||
Retail-Apparel/Shoe — 0.6% | ||||||||
Gap, Inc. | 2,900 | 121,017 | ||||||
|
| |||||||
Retail-Convenience Store — 0.7% | ||||||||
FamilyMart Co., Ltd. | 3,640 | 155,245 | ||||||
|
| |||||||
Retail-Discount — 0.6% | ||||||||
Aeon Co., Ltd. | 9,400 | 123,400 | ||||||
|
| |||||||
Retail-Restaurants — 1.7% | ||||||||
Tim Hortons, Inc. | 2,940 | 159,007 | ||||||
Yum! Brands, Inc. | 2,950 | 204,553 | ||||||
|
| |||||||
363,560 | ||||||||
|
| |||||||
Semiconductor Components-Integrated |
| |||||||
Maxim Integrated Products, Inc. | 7,900 | 219,462 | ||||||
NXP Semiconductor NV† | 3,700 | 114,626 | ||||||
|
| |||||||
334,088 | ||||||||
|
| |||||||
Telephone-Integrated — 1.0% | ||||||||
Softbank Corp. | 1,400 | 81,730 | ||||||
Telefonica SA† | 10,096 | 129,378 | ||||||
|
| |||||||
211,108 | ||||||||
|
| |||||||
Television — 0.2% | ||||||||
Mediaset SpA† | 9,415 | 35,540 | ||||||
|
| |||||||
Therapeutics — 0.7% | ||||||||
Onyx Pharmaceuticals, Inc.† | 1,210 | 150,185 | ||||||
|
| |||||||
Transport-Rail — 0.7% | ||||||||
Canadian National Railway Co. | 1,450 | 141,181 | ||||||
|
| |||||||
Water — 0.5% | ||||||||
Cia de Saneamento Basico do Estado de Sao Paulo ADR | 11,000 | 114,510 | ||||||
|
| |||||||
Web Portals/ISP — 0.7% | ||||||||
Yahoo!, Inc.† | 5,900 | 148,149 | ||||||
|
| |||||||
Total Common Stock | 14,575,167 | |||||||
|
| |||||||
PREFERRED STOCK — 0.6% | ||||||||
Television — 0.6% | ||||||||
ProSiebenSat.1 Media AG | 3,236 | 139,085 | ||||||
|
|
| ||
59 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount(1) | Value | ||||||||||
ASSET BACKED SECURITIES — 0.0% |
| |||||||||||
Diversified Financial Services — 0.0% |
| |||||||||||
Bear Stearns Commercial Mtg. Securities, Inc. |
| $ | 245 | $ | 245 | |||||||
|
| |||||||||||
FOREIGN GOVERNMENT AGENCIES — 25.3% |
| |||||||||||
Sovereign — 25.3% | ||||||||||||
Federal Republic of Germany Bonds | EUR | 5,000 | 6,536 | |||||||||
Government of Australia | AUD | 15,000 | 12,065 | |||||||||
Government of Australia | AUD | 25,000 | 24,411 | |||||||||
Government of Australia | AUD | 50,000 | 50,473 | |||||||||
Government of Australia | AUD | 170,000 | 178,379 | |||||||||
Government of Australia | AUD | 180,000 | 182,380 | |||||||||
Government of Canada | CAD | 75,000 | 69,566 | |||||||||
Government of Canada | CAD | 50,000 | 47,813 | |||||||||
Government of Canada | CAD | 65,000 | 61,606 | |||||||||
Government of Canada | CAD | 15,000 | 13,087 | |||||||||
Government of Canada | CAD | 120,000 | 115,427 | |||||||||
Government of Canada | CAD | 60,000 | 58,842 | |||||||||
Government of Canada | CAD | 5,000 | 5,750 | |||||||||
Government of Canada | CAD | 20,000 | 21,177 | |||||||||
Government of Canada | CAD | 85,000 | 116,030 | |||||||||
Government of Japan | JPY | 2,500,000 | 25,128 | |||||||||
Government of Japan | JPY | 11,050,000 | 112,772 | |||||||||
Government of Japan | JPY | 9,100,000 | 89,721 |
Security Description | Principal Amount(1) | Value | ||||||||||
Sovereign (continued) | ||||||||||||
Government of Japan | JPY | 7,300,000 | $ | 73,816 | ||||||||
Government of Japan | JPY | 1,250,000 | 12,575 | |||||||||
Government of Japan | JPY | 900,000 | 8,936 | |||||||||
Government of Japan | JPY | 1,700,000 | 17,191 | |||||||||
Government of Japan | JPY | 950,000 | 9,495 | |||||||||
Government of Japan | JPY | 7,150,000 | 80,053 | |||||||||
Government of Japan | JPY | 4,150,000 | 46,822 | |||||||||
Kingdom of Belgium | EUR | 20,000 | 29,089 | |||||||||
Kingdom of Denmark | DKK | 155,000 | 30,211 | |||||||||
Kingdom of Denmark | DKK | 540,000 | 107,548 | |||||||||
Kingdom of Denmark | DKK | 465,000 | 114,292 | |||||||||
Kingdom of Denmark | DKK | 515,000 | 137,949 | |||||||||
Kingdom of Netherlands | EUR | 10,000 | 16,148 | |||||||||
Kingdom of Norway | NOK | 105,000 | 16,475 | |||||||||
Kingdom of Norway | NOK | 480,000 | 86,966 | |||||||||
Kingdom of Norway | NOK | 600,000 | 108,181 | |||||||||
Kingdom of Norway | NOK | 800,000 | 149,494 | |||||||||
Kingdom of Norway | NOK | 820,000 | 143,782 | |||||||||
Kingdom of Spain | EUR | 10,000 | 13,500 | |||||||||
Kingdom of Spain | EUR | 10,000 | 12,353 | |||||||||
Kingdom of Spain | EUR | 10,000 | 14,153 |
| ||
60 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount(1) | Value | ||||||||||
FOREIGN GOVERNMENT AGENCIES (continued) |
| |||||||||||
Sovereign (continued) | ||||||||||||
Kingdom of Sweden | SEK | 610,000 | $ | 85,078 | ||||||||
Kingdom of Sweden | SEK | 150,000 | 23,493 | |||||||||
Kingdom of Sweden | SEK | 295,000 | 48,956 | |||||||||
Kingdom of Sweden | SEK | 110,000 | 18,117 | |||||||||
Kingdom of Sweden | SEK | 710,000 | 115,525 | |||||||||
Kingdom of Sweden | SEK | 1,150,000 | 207,303 | |||||||||
Kingdom of Sweden | SEK | 525,000 | 82,081 | |||||||||
Republic of Austria | EUR | 15,000 | 22,236 | |||||||||
Republic of France | EUR | 10,000 | 12,886 | |||||||||
Republic of France | EUR | 35,000 | 47,112 | |||||||||
Republic of France | EUR | 10,000 | 15,844 | |||||||||
Republic of France | EUR | 20,000 | 29,658 | |||||||||
Republic of Italy | EUR | 30,000 | 39,683 | |||||||||
Republic of Italy | EUR | 20,000 | 26,544 | |||||||||
Republic of Italy | EUR | 20,000 | 27,051 | |||||||||
Republic of Italy | EUR | 5,000 | 6,199 | |||||||||
Republic of Italy | EUR | 20,000 | 25,971 | |||||||||
Republic of Poland | PLN | 260,000 | 78,375 | |||||||||
Republic of Poland | PLN | 200,000 | 65,423 | |||||||||
Republic of Poland | PLN | 450,000 | 149,449 |
Security Description | Principal Amount(1) | Value | ||||||||||
FOREIGN GOVERNMENT AGENCIES (continued) |
| |||||||||||
Sovereign (continued) | ||||||||||||
Republic of Poland | PLN | 485,000 | $ | 155,804 | ||||||||
Republic of Singapore | SGD | 20,000 | 15,102 | |||||||||
Republic of Singapore | SGD | 315,000 | 264,773 | |||||||||
Republic of Singapore | SGD | 345,000 | 281,344 | |||||||||
Republic of South Africa | ZAR | 990,000 | 77,151 | |||||||||
Republic of South Africa | ZAR | 540,000 | 52,397 | |||||||||
Republic of South Africa | ZAR | 175,000 | 17,852 | |||||||||
Republic of South Africa | ZAR | 1,745,000 | 185,257 | |||||||||
Republic of South Africa | ZAR | 1,000,000 | 122,628 | |||||||||
Republic of South Africa | ZAR | 720,000 | 83,742 | |||||||||
Societe Financement de l’Economie Francaise Government Guar. Notes | 100,000 | 102,460 | ||||||||||
United Mexican States | MXN | 2,668,200 | 230,628 | |||||||||
United Mexican States | MXN | 3,052,500 | 254,750 | |||||||||
United Mexican States | MXN | 157,300 | 14,140 | |||||||||
United Mexican States | MXN | 111,500 | 11,455 | |||||||||
|
| |||||||||||
Total Foreign Government Agencies | 5,416,659 | |||||||||||
|
| |||||||||||
FOREIGN GOVERNMENT TREASURIES — 1.9% |
| |||||||||||
Sovereign — 1.9% | ||||||||||||
United Kingdom Gilt Treasury | GBP | 40,000 | 60,263 | |||||||||
United Kingdom Gilt Treasury | GBP | 30,000 | 43,046 | |||||||||
United Kingdom Gilt Treasury | GBP | 60,000 | 94,412 |
| ||
61 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Security Description | Principal Amount(1) | Value | ||||||||||
FOREIGN GOVERNMENT TREASURIES (continued) |
| |||||||||||
Sovereign (continued) | ||||||||||||
United Kingdom Gilt Treasury | GBP | 5,000 | $ | 7,853 | ||||||||
United Kingdom Gilt Treasury | GBP | 36,000 | 62,992 | |||||||||
United Kingdom Gilt Treasury | GBP | 3,000 | 5,405 | |||||||||
United Kingdom Gilt Treasury | GBP | 35,000 | 64,709 | |||||||||
United Kingdom Gilt Treasury | GBP | 35,000 | 65,229 | |||||||||
|
| |||||||||||
Total Foreign Government Treasuries (cost $395,906) | 403,909 | |||||||||||
|
| |||||||||||
U.S. GOVERNMENT TREASURIES — 1.4% |
| |||||||||||
United States Treasury Bonds — 0.3% |
| |||||||||||
4.25% due 05/15/2039 | $ | 25,000 | $ | 28,742 | ||||||||
4.50% due 05/15/2038 | 20,000 | 23,863 | ||||||||||
|
| |||||||||||
52,605 | ||||||||||||
|
| |||||||||||
United States Treasury Notes — 1.1% |
| |||||||||||
0.75% due 03/31/2018 | 50,000 | 48,668 | ||||||||||
0.88% due 12/31/2016 | 25,000 | 24,984 | ||||||||||
1.75% due 05/15/2023 | 20,000 | 18,731 | ||||||||||
2.00% due 02/15/2023 | 45,000 | 43,309 | ||||||||||
2.50% due 03/31/2015 | 100,000 | 103,809 | ||||||||||
|
| |||||||||||
239,501 | ||||||||||||
|
| |||||||||||
Total U.S. Government Treasuries |
| 292,106 | ||||||||||
|
| |||||||||||
Total Long-Term Investment Securities |
| 20,827,171 | ||||||||||
|
| |||||||||||
REPURCHASE AGREEMENTS — 2.8% |
| |||||||||||
Bank of America Securities LLC |
| 10,000 | 10,000 | |||||||||
Barclays Capital PLC |
| 245,000 | 245,000 |
Security Description | Principal Amount(1) | Value | ||||||||
REPURCHASE AGREEMENTS (continued) |
| |||||||||
BNP Paribas SA | $ | 100,000 | $ | 100,000 | ||||||
Deutsche Bank AG | 10,000 | 10,000 | ||||||||
Royal Bank of Scotland | 135,000 | 135,000 | ||||||||
UBS Securities LLC | 95,000 | 95,000 | ||||||||
|
| |||||||||
Total Repurchase Agreements | 595,000 | |||||||||
|
| |||||||||
TOTAL INVESTMENTS | 99.9 | % | 21,422,171 | |||||||
Other assets less liabilities | 0.1 | 28,794 | ||||||||
|
|
|
| |||||||
NET ASSETS | 100.0 | % | $ | 21,450,965 | ||||||
|
|
|
|
† | Non-income producing security |
* | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At June 30, 2013 the aggregate value of these securities was $147,043 representing 0.7% of net assets. Unless otherwise indicated these securities are not considered to be illiquid. |
(1) | Denominated in United States dollars unless otherwise indicated. |
(2) | Commercial Mortgage Backed Security |
(3) | See Note 2 for details of Joint Repurchase Agreements. |
(4) | See Note 6 for cost of investments on a tax basis. |
ADR | — American Depository Receipt |
GDR | — Global Depository Receipt |
AUD | — Australian Dollar |
CAD | — Canadian Dollar |
DKK | — Danish Krone |
EUR | — Euro |
GBP | — British Pound Sterling |
JPY | — Japanese Yen |
MXN | — Mexican Peso |
NOK | — Norwegian Krone |
PLN | — Polish Zloty |
SEK | — Swedish Krona |
SGD | — Singapore Dollar |
ZAR | — South African Rand |
Open Futures Contracts | ||||||||||||||||||||
Number of Contracts | Type | Description | Expiration Month | Value at Trade Date | Value as of June 30, | Unrealized Appreciation (Depreciation) | ||||||||||||||
1 | Short | Euro Bund | September 2013 | $ | 140,661 | $ | 141,520 | $ | (859 | ) | ||||||||||
1 | Short | E-Mini MSCI EAFE Index | September 2013 | 85,031 | 81,985 | 3,046 | ||||||||||||||
1 | Short | S&P 500 E-Mini Index | September 2013 | 80,197 | 79,965 | 232 | ||||||||||||||
|
| |||||||||||||||||||
$ | 2,419 | |||||||||||||||||||
|
|
| ||
62 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Open Forward Foreign Currency Contracts | ||||||||||||||||||||||
Counterparty | Contract to Deliver | In Exchange For | Delivery Date | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||
Bank of America N.A. | AUD | 3,000 | USD | 2,784 | 07/31/2013 | $ | 39 | $ | — | |||||||||||||
EUR | 10,000 | USD | 13,408 | 07/31/2013 | 396 | — | ||||||||||||||||
USD | 15,658 | GBP | 10,000 | 07/31/2013 | — | (454 | ) | |||||||||||||||
|
|
|
| |||||||||||||||||||
435 | (454 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Barclays Bank PLC | NOK | 19,000 | USD | 3,115 | 07/31/2013 | — | (1 | ) | ||||||||||||||
ZAR | 528,000 | USD | 53,130 | 07/31/2013 | — | (62 | ) | |||||||||||||||
|
|
|
| |||||||||||||||||||
— | (63 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
BNP Paribas SA | EUR | 8,000 | USD | 10,574 | 07/31/2013 | 165 | — | |||||||||||||||
USD | 9,628 | CAD | 10,000 | 07/31/2013 | — | (122 | ) | |||||||||||||||
|
|
|
| |||||||||||||||||||
165 | (122 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Citibank N.A. | AUD | 7,000 | USD | 6,414 | 07/31/2013 | 10 | — | |||||||||||||||
DKK | 2,363,000 | USD | 418,875 | 07/31/2013 | 6,603 | — | ||||||||||||||||
EUR | 1,298,000 | USD | 1,709,049 | 07/31/2013 | 20,222 | — | ||||||||||||||||
SEK | 34,000 | USD | 5,016 | 07/31/2013 | — | (30 | ) | |||||||||||||||
SGD | 819,000 | USD | 642,966 | 07/31/2013 | — | (2,849 | ) | |||||||||||||||
USD | 56,473 | EUR | 43,000 | 07/31/2013 | — | (525 | ) | |||||||||||||||
USD | 4,881 | NOK | 30,000 | 07/31/2013 | 39 | — | ||||||||||||||||
USD | 157,012 | SGD | 200,000 | 07/31/2013 | 696 | — | ||||||||||||||||
USD | 6,433 | ZAR | 65,000 | 07/31/2013 | 115 | — | ||||||||||||||||
|
|
|
| |||||||||||||||||||
27,685 | (3,404 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Credit Suisse London Branch | AUD | 4,000 | USD | 3,711 | 07/31/2013 | 52 | — | |||||||||||||||
CHF | 28,000 | USD | 30,488 | 07/31/2013 | 856 | — | ||||||||||||||||
EUR | 5,000 | USD | 6,601 | 07/31/2013 | 95 | — | ||||||||||||||||
PLN | 1,601,000 | USD | 488,135 | 07/31/2013 | 8,184 | — | ||||||||||||||||
USD | 319,033 | CHF | 293,000 | 07/31/2013 | — | (8,953 | ) | |||||||||||||||
USD | 242,280 | EUR | 185,000 | 07/31/2013 | — | (1,576 | ) | |||||||||||||||
USD | 31,614 | ILS | 115,000 | 07/31/2013 | — | (36 | ) | |||||||||||||||
USD | 44,969 | RUB | 1,486,000 | 07/31/2013 | 90 | — | ||||||||||||||||
USD | 188,452 | TWD | 5,679,000 | 07/31/2013 | 1,073 | — | ||||||||||||||||
|
|
|
| |||||||||||||||||||
10,350 | (10,565 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Deutsche Bank AG London | EUR | 10,000 | USD | 13,242 | 07/31/2013 | 231 | — | |||||||||||||||
GBP | 10,000 | USD | 15,464 | 07/31/2013 | 260 | — | ||||||||||||||||
KRW | 9,441,000 | USD | 8,169 | 07/31/2013 | — | (86 | ) | |||||||||||||||
USD | 13,946 | DKK | 80,000 | 07/31/2013 | 12 | — | ||||||||||||||||
USD | 6,502 | EUR | 5,000 | 07/31/2013 | 4 | — | ||||||||||||||||
USD | 44,096 | INR | 2,640,000 | 07/31/2013 | 101 | — | ||||||||||||||||
USD | 253,448 | KRW | 292,930,000 | 07/31/2013 | 2,659 | — | ||||||||||||||||
|
|
|
| |||||||||||||||||||
3,267 | (86 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Goldman Sachs International | AUD | 505,000 | USD | 463,775 | 07/31/2013 | 1,824 | — | |||||||||||||||
BRL | 355,000 | USD | 160,227 | 07/02/2013 | — | (624 | ) | |||||||||||||||
EUR | 5,000 | USD | 6,548 | 07/31/2013 | 43 | — | ||||||||||||||||
NOK | 40,000 | USD | 6,960 | 07/31/2013 | 400 | — | ||||||||||||||||
SEK | 9,000 | USD | 1,328 | 07/31/2013 | — | (8 | ) | |||||||||||||||
USD | 163,512 | BRL | 355,000 | 07/02/2013 | — | (2,660 | ) | |||||||||||||||
USD | 280,950 | AUD | 306,000 | 07/31/2013 | — | (1,035 | ) | |||||||||||||||
USD | 9,786 | CAD | 10,000 | 07/31/2013 | — | (279 | ) |
| ||
63 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Open Forward Foreign Currency Contracts | ||||||||||||||||||||||
Counterparty | Contract to Deliver | In Exchange For | Delivery Date | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||
USD | 1,302 | NOK | 8,000 | 07/31/2013 | $ | 10 | $ | — | ||||||||||||||
USD | 14,968 | SGD | 19,000 | 07/31/2013 | 14 | — | ||||||||||||||||
|
|
|
| |||||||||||||||||||
2,291 | (4,606 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
HSBC Bank USA N.A. | HKD | 960,000 | USD | 123,779 | 07/31/2013 | — | (7 | ) | ||||||||||||||
USD | 29,865 | MXN | 390,000 | 07/31/2013 | 73 | — | ||||||||||||||||
USD | 14,982 | PLN | 50,000 | 07/31/2013 | 7 | — | ||||||||||||||||
USD | 15,770 | SGD | 20,000 | 07/31/2013 | 1 | — | ||||||||||||||||
USD | 16,051 | ZAR | 160,000 | 07/31/2013 | 68 | — | ||||||||||||||||
|
|
|
| |||||||||||||||||||
149 | (7 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
JPMorgan Chase Bank | CNY | 515,000 | USD | 83,078 | 07/31/2013 | — | (608 | ) | ||||||||||||||
CNY | 623,000 | USD | 100,464 | 10/15/2013 | — | (262 | ) | |||||||||||||||
CNY | 625,000 | USD | 101,604 | 04/23/2014 | 1,393 | — | ||||||||||||||||
EUR | 27,000 | USD | 35,678 | 07/31/2013 | 548 | — | ||||||||||||||||
JPY | 1,240,000 | USD | 12,675 | 07/31/2013 | 177 | — | ||||||||||||||||
USD | 4,640 | AUD | 5,000 | 07/31/2013 | — | (66 | ) | |||||||||||||||
USD | 6,503 | EUR | 5,000 | 07/31/2013 | 3 | — | ||||||||||||||||
USD | 106,608 | HKD | 827,000 | 07/31/2013 | 28 | — | ||||||||||||||||
USD | 70,401 | JPY | 6,904,000 | 07/31/2013 | — | (814 | ) | |||||||||||||||
USD | 100,804 | ZAR | 1,035,000 | 07/31/2013 | 3,464 | — | ||||||||||||||||
USD | 98,889 | CNY | 623,000 | 10/15/2013 | 1,837 | — | ||||||||||||||||
USD | 103,220 | CNY | 625,000 | 04/23/2014 | — | (3,009 | ) | |||||||||||||||
ZAR | 5,068,000 | USD | 493,601 | 07/31/2013 | — | (16,964 | ) | |||||||||||||||
|
|
|
| |||||||||||||||||||
7,450 | (21,723 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Morgan Stanley and Co. International PLC | EUR | 10,000 | USD | 13,108 | 07/31/2013 | 97 | — | |||||||||||||||
GBP | 282,000 | USD | 436,496 | 07/31/2013 | 7,743 | — | ||||||||||||||||
NOK | 3,103,000 | USD | 521,371 | 07/31/2013 | 12,493 | — | ||||||||||||||||
USD | 12,736 | JPY | 1,240,000 | 07/31/2013 | �� | (238 | ) | |||||||||||||||
USD | 95,604 | NOK | 569,000 | 07/31/2013 | — | (2,291 | ) | |||||||||||||||
USD | 6,309 | SGD | 8,000 | 07/31/2013 | — | (1 | ) | |||||||||||||||
|
|
|
| |||||||||||||||||||
20,333 | (2,530 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
National Australia Bank, Ltd. | JPY | 95,933,000 | USD | 1,008,359 | 07/31/2013 | 41,431 | — | |||||||||||||||
|
|
|
| |||||||||||||||||||
Royal Bank of Canada | AUD | 13,000 | USD | 11,966 | 07/31/2013 | 74 | — | |||||||||||||||
EUR | 10,000 | USD | 13,004 | 07/31/2013 | — | (7 | ) | |||||||||||||||
GBP | 40,000 | USD | 62,574 | 07/31/2013 | 1,758 | — | ||||||||||||||||
JPY | 950,000 | USD | 9,596 | 07/31/2013 | 21 | — | ||||||||||||||||
MXN | 6,849,000 | USD | 529,346 | 07/31/2013 | 3,585 | — | ||||||||||||||||
USD | 3,864 | MXN | 50,000 | 07/31/2013 | — | (26 | ) | |||||||||||||||
|
|
|
| |||||||||||||||||||
5,438 | (33 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
State Street Bank and Trust Company | CAD | 22,000 | USD | 20,930 | 07/31/2013 | 17 | — | |||||||||||||||
USD | 24,310 | GBP | 16,000 | 07/31/2013 | 16 | — | ||||||||||||||||
|
|
|
| |||||||||||||||||||
33 | — | |||||||||||||||||||||
|
|
|
| |||||||||||||||||||
UBS AG | BRL | 355,000 | USD | 165,538 | 07/02/2013 | 4,687 | — | |||||||||||||||
EUR | 5,000 | USD | 6,548 | 07/31/2013 | 42 | — | ||||||||||||||||
MXN | 150,000 | USD | 11,527 | 07/31/2013 | 12 | — | ||||||||||||||||
SEK | 4,143,000 | USD | 631,018 | 07/31/2013 | 16,164 | — | ||||||||||||||||
USD | 160,227 | BRL | 355,000 | 07/02/2013 | 624 | — | ||||||||||||||||
USD | 164,415 | AUD | 180,000 | 07/31/2013 | 241 | — |
| ||
64 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
Open Forward Foreign Currency Contracts | ||||||||||||||||||||||
Counterparty | Contract to Deliver | In Exchange For | Delivery Date | Unrealized Appreciation | Unrealized Depreciation | |||||||||||||||||
USD | 18,945 | CAD | 20,000 | 07/31/2013 | $ | 67 | $ | — | ||||||||||||||
USD | 62,214 | MYR | 200,000 | 07/31/2013 | 961 | — | ||||||||||||||||
USD | 6,306 | SGD | 8,000 | 07/31/2013 | 2 | — | ||||||||||||||||
USD | 71,148 | BRL | 159,000 | 08/02/2013 | 388 | — | ||||||||||||||||
|
|
|
| |||||||||||||||||||
23,188 | — | |||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Westpac Banking Corp. | CAD | 610,000 | USD | 587,800 | 07/31/2013 | 7,936 | — | |||||||||||||||
USD | 200,110 | CAD | 207,000 | 07/31/2013 | — | (3,336 | ) | |||||||||||||||
|
|
|
| |||||||||||||||||||
7,936 | (3,336 | ) | ||||||||||||||||||||
|
|
|
| |||||||||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 150,151 | $ | (46,929 | ) | |||||||||||||||||
|
|
|
|
AUD | — Australian Dollar | HKD | — Hong Kong Dollar | PLN | — Polish Zloty | |||||
BRL | — Brazilian Real | ILS | — Israeli Shekel | RUB | — Russian Ruble | |||||
CAD | — Canadian Dollar | INR | — Indian Rupee | SEK | — Swedish Krona | |||||
CHF | — Swiss Franc | JPY | — Japanese Yen | SGD | — Singapore Dollar | |||||
CNY | — Yuan (Chinese) Renminbi | KRW | — South Korean Won | TWD | — Taiwan Dollar | |||||
DKK | — Danish Krone | MXN | — Mexican Peso | USD | — United States Dollar | |||||
EUR | — Euro | MYR | — Malaysian Ringgit | ZAR | — South African Rand | |||||
GBP | — British Pound Sterling | NOK | — Norwegian Krone |
| ||
65 |
Table of Contents
Anchor Series Trust Strategic Multi-Asset Portfolio
PORTFOLIO OF INVESTMENTS — June 30, 2013 — (unaudited) — (continued)
The following is a summary of the inputs used to value the Portfolio's net assets as of June 30, 2013 (see Note 2):
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | |||||||||||||
Assets: | ||||||||||||||||
Long-Term Investment Securities: | �� | |||||||||||||||
Common Stock: | ||||||||||||||||
Medical-Drugs | $ | 1,111,470 | $ | — | $ | — | $ | 1,111,470 | ||||||||
Other Industries* | 13,463,697 | — | — | 13,463,697 | ||||||||||||
Preferred Stock | 139,085 | — | — | 139,085 | ||||||||||||
Asset Backed Securities | — | 245 | — | 245 | ||||||||||||
Foreign Government Agencies: | ||||||||||||||||
Sovereign | — | 5,416,659 | — | 5,416,659 | ||||||||||||
Foreign Government Treasuries | — | 403,909 | — | 403,909 | ||||||||||||
U.S. Government Treasuries | — | 292,106 | — | 292,106 | ||||||||||||
Repurchase Agreements | — | 595,000 | — | 595,000 | ||||||||||||
Other Financial Instruments:@ | ||||||||||||||||
Open Futures Contracts — Appreciation | 3,278 | — | — | 3,278 | ||||||||||||
Open Forward Foreign Currency Contracts — Appreciation | — | 150,151 | — | 150,151 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 14,717,530 | $ | 6,858,070 | $ | — | $ | 21,575,600 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Liabilities: | ||||||||||||||||
Other Financial Instruments:@ | ||||||||||||||||
Open Futures Contracts — Depreciation | $ | 859 | $ | — | $ | — | $ | 859 | ||||||||
Open Forward Foreign Currency Contracts — Depreciation | — | 46,929 | — | 46,929 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 859 | $ | 46,929 | $ | — | $ | 47,788 | ||||||||
|
|
|
|
|
|
|
|
* | Sum of all other industries each of which individually has an aggregate market value of less than 5% of net assets. For a detailed presentation of securities by industry classification, please refer to the Portfolio of Investments. |
@ | Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, forwards, swap and written options contracts, which are valued at the unrealized appreciation (depreciation) on the instrument. |
The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. Securities held at the beginning of the period currently valued at $2,568,681 were transferred from Level 2 to Level 1 due to foreign equity securities whose values were previously adjusted for fair value pricing procedures for foreign equity securities. There were no additional transfers between Levels during the reporting period.
At the beginning of the reporting period, Level 3 investments in securities were not considered a material portion of the Portfolio. There were no Level 3 investments at the end of the reporting period.
See Notes to Financial Statements
| ||
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| ||
67 |
Table of Contents
Anchor Series Trust
STATEMENT OF ASSETS AND LIABILITIES — June 30, 2013 (unaudited)
Government and Quality Bond Portfolio | Asset Allocation Portfolio | |||||||
ASSETS: | ||||||||
Investments at value (unaffiliated)* | $ | 1,324,232,153 | $ | 215,706,304 | ||||
Repurchase agreements (cost approximates value) | 112,225,000 | 5,785,000 | ||||||
|
| |||||||
Total investments | 1,436,457,153 | 221,491,304 | ||||||
|
| |||||||
Cash | 3,609 | 11,753 | ||||||
Foreign cash* | — | 7,441 | ||||||
Due from broker@ | — | — | ||||||
Receivable for: | ||||||||
Fund shares sold | 14,969,166 | 402,548 | ||||||
Dividends and interest | 6,290,706 | 987,463 | ||||||
Investments sold | 172,053,781 | 324,684 | ||||||
Prepaid expenses and other assets | 10,422 | 5,265 | ||||||
Due from investment adviser for expense reimbursements/fee waivers | — | — | ||||||
Variation margin on futures contracts | — | — | ||||||
Unrealized appreciation on forward foreign currency contracts | — | — | ||||||
|
| |||||||
Total assets | 1,629,784,837 | 223,230,458 | ||||||
|
| |||||||
LIABILITIES: | ||||||||
Payable for: | ||||||||
Fund shares redeemed | 125,681 | 128,406 | ||||||
Investments purchased | 279,393,934 | 762,401 | ||||||
Investment advisory and management fees | 534,205 | 120,668 | ||||||
Service fees — Class 2 | 6,751 | 2,193 | ||||||
Service fees — Class 3 | 159,602 | 9,513 | ||||||
Transfer agent fees and expenses | 564 | 376 | ||||||
Trustees’ fees and expenses | 11,602 | 2,484 | ||||||
Other accrued expenses | 200,101 | 96,398 | ||||||
Variation margin on futures contracts | — | — | ||||||
Unrealized depreciation on forward foreign currency contracts | — | — | ||||||
Forward sales contracts, at value# | 134,632,221 | — | ||||||
|
| |||||||
Total liabilities | 415,064,661 | 1,122,439 | ||||||
|
| |||||||
Net Assets | $ | 1,214,720,176 | $ | 222,108,019 | ||||
|
| |||||||
NET ASSETS REPRESENTED BY: | ||||||||
Capital paid-in | 1,150,156,544 | 184,560,525 | ||||||
Accumulated undistributed net investment income (loss) | 33,425,677 | 8,738,672 | ||||||
Accumulated undistributed net realized gain (loss) on investments, futures contracts, options contracts, and foreign exchange transactions | | 13,554,010 | | (2,647,902 | ) | |||
Unrealized appreciation (depreciation) on investments | 17,265,424 | 31,456,946 | ||||||
Unrealized appreciation (depreciation) on futures contracts | — | — | ||||||
Unrealized foreign exchange gain (loss) on other assets and liabilities | — | (222 | ) | |||||
Unrealized appreciation (depreciation) on forward sales contracts | 318,521 | — | ||||||
|
| |||||||
NET ASSETS | $ | 1,214,720,176 | $ | 222,108,019 | ||||
|
| |||||||
Class 1 (unlimited shares authorized): | ||||||||
Net assets | $ | 378,193,401 | $ | 158,010,699 | ||||
Shares of beneficial interest issued and outstanding | 24,797,647 | 10,486,601 | ||||||
Net asset value, offering and redemption price per share | $ | 15.25 | $ | 15.07 | ||||
|
| |||||||
Class 2 (unlimited shares authorized): | ||||||||
Net assets | $ | 54,377,700 | $ | 17,671,213 | ||||
Shares of beneficial interest issued and outstanding | 3,568,988 | 1,175,310 | ||||||
Net asset value, offering and redemption price per share | $ | 15.24 | $ | 15.04 | ||||
|
| |||||||
Class 3 (unlimited shares authorized): | ||||||||
Net assets | $ | 782,149,075 | $ | 46,426,107 | ||||
Shares of beneficial interest issued and outstanding | 51,518,518 | 3,099,362 | ||||||
Net asset value, offering and redemption price per share | $ | 15.18 | $ | 14.98 | ||||
|
| |||||||
* Cost | ||||||||
Investments (unaffiliated) | $ | 1,306,966,729 | $ | 184,249,358 | ||||
|
| |||||||
Foreign cash | $ | — | $ | 7,421 | ||||
|
| |||||||
# Proceeds from forward sales contracts | $ | 134,950,742 | $ | — | ||||
|
|
@ | See Note 2 |
See Notes to Financial Statements
| ||
68 |
Table of Contents
Growth and Income Portfolio | Growth Portfolio | Capital Appreciation Portfolio | Natural Resources Portfolio | Multi-Asset Portfolio | Strategic Multi-Asset Portfolio | |||||||||||||||||
$ | 65,081,821 | $ | 437,271,011 | $ | 1,105,316,225 | $ | 195,801,312 | $ | 21,231,777 | $ | 20,827,171 | |||||||||||
1,620,000 | 10,840,000 | 33,200,000 | 9,865,000 | 2,360,000 | 595,000 | |||||||||||||||||
|
| |||||||||||||||||||||
66,701,821 | 448,111,011 | 1,138,516,225 | 205,666,312 | 23,591,777 | 21,422,171 | |||||||||||||||||
|
| |||||||||||||||||||||
3,936 | 4,669 | 3,142 | 3,375,173 | 14,736 | 2,006 | |||||||||||||||||
— | — | — | 16,179 | — | 3,946 | |||||||||||||||||
— | — | — | — | 12,950 | 10,441 | |||||||||||||||||
312,555 | 643,704 | 351,984 | 5,634,624 | — | 763 | |||||||||||||||||
75,517 | 287,210 | 294,044 | 215,787 | 46,435 | 104,275 | |||||||||||||||||
194,704 | 3,983,952 | 19,101,596 | — | 76,671 | 94,842 | |||||||||||||||||
5,320 | 6,264 | 11,282 | 7,116 | 3,638 | 4,465 | |||||||||||||||||
— | — | — | — | 12,571 | — | |||||||||||||||||
— | — | — | — | 1,173 | 515 | |||||||||||||||||
— | — | — | — | — | 150,151 | |||||||||||||||||
|
| |||||||||||||||||||||
67,293,853 | 453,036,810 | 1,158,278,273 | 214,915,191 | 23,759,951 | 21,793,575 | |||||||||||||||||
|
| |||||||||||||||||||||
4,269 | 1,630,772 | 7,419,364 | 22,711 | 9,837 | 6,947 | |||||||||||||||||
914,071 | 3,392,586 | 23,491,780 | 5,855,097 | 1,824,620 | 223,111 | |||||||||||||||||
37,015 | 265,069 | 661,724 | 131,177 | 18,185 | 17,825 | |||||||||||||||||
— | 3,214 | 6,996 | 1,653 | — | — | |||||||||||||||||
— | 24,980 | 116,407 | 23,927 | 22 | — | |||||||||||||||||
251 | 564 | 564 | 564 | 376 | 188 | |||||||||||||||||
437 | 7,693 | 15,706 | 2,416 | 1,332 | 929 | |||||||||||||||||
44,850 | 92,283 | 171,577 | 70,699 | 45,021 | 46,604 | |||||||||||||||||
— | — | — | — | 47 | 77 | |||||||||||||||||
— | — | — | — | — | 46,929 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
|
| |||||||||||||||||||||
1,000,893 | 5,417,161 | 31,884,118 | 6,108,244 | 1,899,440 | 342,610 | |||||||||||||||||
|
| |||||||||||||||||||||
$ | 66,292,960 | $ | 447,619,649 | $ | 1,126,394,155 | $ | 208,806,947 | $ | 21,860,511 | $ | 21,450,965 | |||||||||||
|
| |||||||||||||||||||||
60,833,503 | 445,454,050 | 699,779,586 | 244,102,022 | 20,767,160 | 18,170,976 | |||||||||||||||||
466,557 | 4,933,434 | (1,770,084 | ) | 3,452,697 | 362,403 | 77,310 | ||||||||||||||||
2,601,233 | (54,738,344 | ) | 258,326,731 | (26,810,787 | ) | (1,182,460 | ) | 1,755,763 | ||||||||||||||
2,391,667 | 51,970,509 | 170,052,119 | (11,930,331 | ) | 1,911,664 | 1,343,776 | ||||||||||||||||
— | — | — | — | 1,744 | 2,419 | |||||||||||||||||
— | — | 5,803 | (6,654 | ) | — | 100,721 | ||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
|
| |||||||||||||||||||||
$ | 66,292,960 | $ | 447,619,649 | $ | 1,126,394,155 | $ | 208,806,947 | $ | 21,860,511 | $ | 21,450,965 | |||||||||||
|
| |||||||||||||||||||||
$ | 66,292,960 | $ | 303,587,372 | $ | 516,879,728 | $ | 80,231,061 | $ | 21,755,286 | $ | 21,450,965 | |||||||||||
6,920,816 | 12,293,991 | 11,282,664 | 3,894,190 | 3,161,734 | 2,463,913 | |||||||||||||||||
$ | 9.58 | $ | 24.69 | $ | 45.81 | $ | 20.60 | $ | 6.88 | $ | 8.71 | |||||||||||
|
| |||||||||||||||||||||
$ | — | $ | 25,521,691 | $ | 55,796,644 | $ | 12,946,083 | $ | — | $ | — | |||||||||||
— | 1,034,345 | 1,237,595 | 631,118 | — | — | |||||||||||||||||
$ | — | $ | 24.67 | $ | 45.08 | $ | 20.51 | $ | — | $ | — | |||||||||||
|
| |||||||||||||||||||||
$ | — | $ | 118,510,586 | $ | 553,717,783 | $ | 115,629,803 | $ | 105,225 | $ | — | |||||||||||
— | 4,814,176 | 12,410,374 | 5,668,515 | 15,320 | — | |||||||||||||||||
$ | — | $ | 24.62 | $ | 44.62 | $ | 20.40 | $ | 6.87 | $ | — | |||||||||||
|
| |||||||||||||||||||||
$ | 62,690,154 | $ | 385,300,502 | $ | 935,264,106 | $ | 207,731,643 | $ | 19,320,113 | $ | 19,483,395 | |||||||||||
|
| |||||||||||||||||||||
$ | — | $ | — | $ | — | $ | 16,226 | $ | — | $ | 3,944 | |||||||||||
|
| |||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
|
|
| ||
69 |
Table of Contents
Anchor Series Trust
STATEMENT OF OPERATIONS — For the six months ended June 30, 2013 (unaudited)
Government and Quality Bond Portfolio | Asset Allocation Portfolio | |||||||
INVESTMENT INCOME: | ||||||||
Dividends (unaffiliated) | $ | — | $ | 2,079,260 | ||||
Interest (unaffiliated) | 11,496,629 | 1,579,213 | ||||||
|
| |||||||
Total investment income* | 11,496,629 | 3,658,473 | ||||||
|
| |||||||
EXPENSES: | ||||||||
Investment advisory and management fees | 3,203,345 | 733,469 | ||||||
Service fee | ||||||||
Class 2 | 42,838 | 13,183 | ||||||
Class 3 | 978,144 | 56,534 | ||||||
Transfer agent fees and expenses | 564 | 376 | ||||||
Custodian and accounting fees | 158,567 | 100,928 | ||||||
Reports to shareholders | 89,152 | 16,559 | ||||||
Audit and tax fees | 21,646 | 19,626 | ||||||
Legal fees | 9,598 | 3,956 | ||||||
Trustees’ fees and expenses | 35,517 | 6,618 | ||||||
Interest expense | 43 | — | ||||||
Other expenses | 13,592 | 16,883 | ||||||
|
| |||||||
Total expenses before fee waivers, expense reimbursements, expense recoupments, and fees paid indirectly | 4,553,006 | 968,132 | ||||||
Fees waived and expenses reimbursed by investment advisor (Note 3) | — | — | ||||||
Fees paid indirectly (Note 4) | — | (273 | ) | |||||
|
| |||||||
Net expenses | 4,553,006 | 967,859 | ||||||
|
| |||||||
Net investment income (loss) | 6,943,623 | 2,690,614 | ||||||
|
| |||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES: | ||||||||
Net realized gain (loss) on investments (unaffiliated) | 3,105,340 | 5,249,424 | ||||||
Net realized gain (loss) on futures contracts, and options contracts | 196 | — | ||||||
Net realized foreign exchange gain (loss) on other assets and liabilities | — | (552 | ) | |||||
|
| |||||||
Net realized gain (loss) on investments and foreign currencies | 3,105,536 | 5,248,872 | ||||||
|
| |||||||
Change in unrealized appreciation (depreciation) on investments (unaffiliated) | (37,176,573 | ) | 6,289,214 | |||||
Change in unrealized appreciation (depreciation) on futures contracts, and options contracts | — | — | ||||||
Change in unrealized foreign exchange gain (loss) on other assets and liabilities | — | (130 | ) | |||||
Change in unrealized appreciation (depreciation) on forward sales contracts | 702,649 | — | ||||||
|
| |||||||
Net unrealized gain (loss) on investments and foreign currencies | (36,473,924 | ) | 6,289,084 | |||||
|
| |||||||
Net realized and unrealized gain (loss) on investments and foreign currencies | (33,368,388 | ) | 11,537,956 | |||||
|
| |||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | (26,424,765 | ) | $ | 14,228,570 | |||
|
| |||||||
* Net of foreign withholding taxes on interest and dividends of | $ | (966 | ) | $ | 58,006 | |||
|
|
See Notes to Financial Statements
| ||
70 |
Table of Contents
Growth and Income Portfolio | Growth Portfolio | Capital Appreciation Portfolio | Natural Resources Portfolio | Multi-Asset Portfolio | Strategic Multi-Asset Portfolio | |||||||||||||||||
$ | 506,883 | $ | 3,321,532 | $ | 3,179,665 | $ | 2,225,257 | $ | 139,040 | $ | 178,252 | |||||||||||
892 | 5,908 | 13,119 | 2,053 | 92,628 | 119,457 | |||||||||||||||||
|
| |||||||||||||||||||||
507,775 | 3,327,440 | 3,192,784 | 2,227,310 | 231,668 | 297,709 | |||||||||||||||||
|
| |||||||||||||||||||||
182,610 | 1,524,087 | 3,932,569 | 835,558 | 110,449 | 107,254 | |||||||||||||||||
— | 19,608 | 42,374 | 10,659 | — | — | |||||||||||||||||
— | 151,930 | 695,315 | 155,630 | 129 | — | |||||||||||||||||
251 | 564 | 564 | 564 | 376 | 188 | |||||||||||||||||
27,282 | 71,610 | 122,384 | 56,661 | 29,814 | 47,789 | |||||||||||||||||
4,345 | 12,338 | 87,498 | 16,330 | 3,415 | 1,548 | |||||||||||||||||
17,295 | 17,295 | 17,295 | 17,295 | 19,271 | 22,799 | |||||||||||||||||
3,780 | 5,309 | 8,864 | 3,934 | 2,882 | 2,886 | |||||||||||||||||
1,353 | 12,063 | 32,699 | 6,786 | 659 | 636 | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
7,754 | 11,537 | 24,416 | 11,280 | 7,679 | 10,404 | |||||||||||||||||
|
| |||||||||||||||||||||
| 244,670 |
| 1,826,341 | 4,963,978 | 1,114,697 | 174,674 | 193,504 | |||||||||||||||
— | — | — | — | (53,051 | ) | — | ||||||||||||||||
(265 | ) | (4,476 | ) | (17,447 | ) | (609 | ) | (83 | ) | (246 | ) | |||||||||||
|
| |||||||||||||||||||||
244,405 | 1,821,865 | 4,946,531 | 1,114,088 | 121,540 | 193,258 | |||||||||||||||||
|
| |||||||||||||||||||||
263,370 | 1,505,575 | (1,753,747 | ) | 1,113,222 | 110,128 | 104,451 | ||||||||||||||||
|
| |||||||||||||||||||||
4,040,995 | 26,387,068 | 127,553,363 | (10,629,144 | ) | 1,060,827 | 1,544,205 | ||||||||||||||||
— | — | — | — | 1,638 | 60,142 | |||||||||||||||||
— | — | (33,838 | ) | 12,521 | — | 54,179 | ||||||||||||||||
|
| |||||||||||||||||||||
4,040,995 | 26,387,068 | 127,519,525 | (10,616,623 | ) | 1,062,465 | 1,658,526 | ||||||||||||||||
|
| |||||||||||||||||||||
752,722 | 22,005,552 | 8,772,358 | (10,446,742 | ) | 225,784 | (666,249 | ) | |||||||||||||||
— | — | — | — | 6,314 | 4,419 | |||||||||||||||||
— | — | 5,804 | (6,610 | ) | — | 193,970 | ||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
|
| |||||||||||||||||||||
752,722 | 22,005,552 | 8,778,162 | (10,453,352 | ) | 232,098 | (467,860 | ) | |||||||||||||||
|
| |||||||||||||||||||||
4,793,717 | 48,392,620 | 136,297,687 | (21,069,975 | ) | 1,294,563 | 1,190,666 | ||||||||||||||||
|
| |||||||||||||||||||||
$ | 5,057,087 | $ | 49,898,195 | $ | 134,543,940 | $ | (19,956,753 | ) | $ | 1,404,691 | $ | 1,295,117 | ||||||||||
|
| |||||||||||||||||||||
$ | 3,938 | $ | 25,877 | $ | 31,300 | $ | 147,973 | $ | 1,232 | $ | 12,872 | |||||||||||
|
|
| ||
71 |
Table of Contents
Anchor Series Trust
STATEMENT OF CHANGES IN NET ASSETS
Government and Quality Bond Portfolio | ||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | 6,943,623 | $ | 19,056,061 | ||||
Net realized gain (loss) on investments and foreign currencies | 3,105,536 | 19,578,424 | ||||||
Net unrealized gain (loss) on investments and foreign currencies | (36,473,924 | ) | 955,827 | |||||
|
| |||||||
Net increase (decrease) in net assets resulting from operations | (26,424,765 | ) | 39,590,312 | |||||
|
| |||||||
Distributions to shareholders from: | ||||||||
Net investment income — Class 1 | — | (6,794,563 | ) | |||||
Net investment income — Class 2 | — | (1,328,156 | ) | |||||
Net investment income — Class 3 | — | (16,009,509 | ) | |||||
Net realized gain on securities — Class 1 | — | (4,036,792 | ) | |||||
Net realized gain on securities — Class 2 | — | (854,071 | ) | |||||
Net realized gain on securities — Class 3 | — | (10,596,454 | ) | |||||
|
| |||||||
Total distributions to shareholders | — | (39,619,545 | ) | |||||
|
| |||||||
Net increase (decrease) in net assets resulting from capital share transactions (Note 7) | 56,205,802 | 120,965,016 | ||||||
|
| |||||||
Total increase (decrease) in net assets | 29,781,037 | 120,935,783 | ||||||
NET ASSETS: | ||||||||
Beginning of period | 1,184,939,139 | 1,064,003,356 | ||||||
|
| |||||||
End of period† | $ | 1,214,720,176 | $ | 1,184,939,139 | ||||
|
| |||||||
† Includes accumulated undistributed net investment income (loss) | $ | 33,425,677 | $ | 26,482,054 | ||||
|
|
See Notes to Financial Statements
| ||
72 |
Table of Contents
Asset Allocation Portfolio | Growth and Income Portfolio | Growth Portfolio | ||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||
$ | 2,690,614 | $ | 5,826,333 | $ | 263,370 | $ | 203,816 | $ | 1,505,575 | $ | 3,439,358 | |||||||||||
5,248,872 | 5,930,175 | 4,040,995 | 429,035 | 26,387,068 | 12,247,514 | |||||||||||||||||
6,289,084 | 13,497,398 | 752,722 | 1,386,787 | 22,005,552 | 32,522,453 | |||||||||||||||||
|
| |||||||||||||||||||||
14,228,570 | 25,253,906 | 5,057,087 | 2,019,638 | 49,898,195 | 48,209,325 | |||||||||||||||||
|
| |||||||||||||||||||||
(64,466) | (4,926,993 | ) | — | — | — | (1,293,628 | ) | |||||||||||||||
— | (501,958 | ) | — | — | — | (108,385 | ) | |||||||||||||||
— | (1,207,216 | ) | — | — | — | (353,872 | ) | |||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||
|
| |||||||||||||||||||||
(64,466 | ) | (6,636,167 | ) | — | — | — | (1,755,885 | ) | ||||||||||||||
|
| |||||||||||||||||||||
(11,885,417 | ) | (23,461,338 | ) | 21,965,001 | 29,802,101 | 9,742,020 | 737,939 | |||||||||||||||
|
| |||||||||||||||||||||
2,278,687 | (4,843,599 | ) | 27,022,088 | 31,821,739 | 59,640,215 | 47,191,379 | ||||||||||||||||
219,829,332 | 224,672,931 | 39,270,872 | 7,449,133 | 387,979,434 | 340,788,055 | |||||||||||||||||
|
| |||||||||||||||||||||
$ | 222,108,019 | $ | 219,829,332 | $ | 66,292,960 | $ | 39,270,872 | $ | 447,619,649 | $ | 387,979,434 | |||||||||||
|
| |||||||||||||||||||||
$ | 8,738,672 | $ | 6,112,524 | $ | 466,557 | $ | 203,187 | $ | 4,933,434 | $ | 3,427,859 | |||||||||||
|
|
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Anchor Series Trust
STATEMENT OF CHANGES IN NET ASSETS
Capital Appreciation Portfolio | ||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||
Operations: | ||||||||
Net investment income (loss) | $ | (1,753,747 | ) | $ | (3,267,857 | ) | ||
Net realized gain (loss) on investments and foreign currencies | 127,519,525 | 138,023,880 | ||||||
Net unrealized gain (loss) on investments and foreign currencies | 8,778,162 | 93,606,006 | ||||||
|
| |||||||
Net increase (decrease) in net assets resulting from operations | 134,543,940 | 228,362,029 | ||||||
|
| |||||||
Distributions to shareholders from: | ||||||||
Net investment income — Class 1 | — | — | ||||||
Net investment income — Class 2 | — | — | ||||||
Net investment income — Class 3 | — | — | ||||||
Net realized gain on securities — Class 1 | (51,387 | ) | (20,248,496 | ) | ||||
Net realized gain on securities — Class 2 | (5,812 | ) | (2,446,542 | ) | ||||
Net realized gain on securities — Class 3 | (57,570 | ) | (23,499,636 | ) | ||||
|
| |||||||
Total distributions to shareholders | (114,769 | ) | (46,194,674 | ) | ||||
|
| |||||||
Net increase (decrease) in net assets resulting from capital share transactions (Note 7) | (79,120,126 | ) | (100,496,391 | ) | ||||
|
| |||||||
Total increase (decrease) in net assets | 55,309,045 | 81,670,964 | ||||||
NET ASSETS: | ||||||||
Beginning of period | 1,071,085,110 | 989,414,146 | ||||||
|
| |||||||
End of period† | $ | 1,126,394,155 | $ | 1,071,085,110 | ||||
|
| |||||||
† Includes accumulated undistributed net investment income (loss) | $ | (1,770,084 | ) | $ | (16,337 | ) | ||
|
|
See Notes to Financial Statements
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Natural Resources Portfolio | Multi-Asset Portfolio | Strategic Multi-Asset Portfolio | ||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||
$ | 1,113,222 | $ | 2,369,602 | $ | 110,128 | $ | 207,770 | $ | 104,451 | $ | 118,383 | |||||||||||
(10,616,623 | ) | (13,135,298 | ) | 1,062,465 | 1,266,947 | 1,658,526 | 1,297,520 | |||||||||||||||
(10,453,352 | ) | 18,652,035 | 232,098 | 669,121 | (467,860 | ) | 1,604,331 | |||||||||||||||
|
| |||||||||||||||||||||
(19,956,753 | ) | 7,886,339 | 1,404,691 | 2,143,838 | 1,295,117 | 3,020,234 | ||||||||||||||||
|
| |||||||||||||||||||||
— | (890,355 | ) | — | (198,946 | ) | — | (527,384 | ) | ||||||||||||||
— | (133,613 | ) | — | — | — | — | ||||||||||||||||
— | (1,092,760 | ) | — | — | — | — | ||||||||||||||||
— | (7,695,993 | ) | — | — | — | — | ||||||||||||||||
— | (1,442,429 | ) | — | — | — | — | ||||||||||||||||
— | (12,995,684 | ) | — | — | — | — | ||||||||||||||||
|
| |||||||||||||||||||||
— | (24,250,834 | ) | — | (198,946 | ) | — | (527,384 | ) | ||||||||||||||
|
| |||||||||||||||||||||
(1,784,370 | ) | 7,505,936 | (1,757,277 | ) | (3,137,182 | ) | (1,159,750 | ) | (2,266,143 | ) | ||||||||||||
|
| |||||||||||||||||||||
(21,741,123 | ) | (8,858,559 | ) | (352,586 | ) | (1,192,290 | ) | 135,367 | 226,707 | |||||||||||||
230,548,070 | 239,406,629 | 22,213,097 | 23,405,387 | 21,315,598 | 21,088,891 | |||||||||||||||||
|
| |||||||||||||||||||||
$ | 208,806,947 | $ | 230,548,070 | $ | 21,860,511 | $ | 22,213,097 | $ | 21,450,965 | $ | 21,315,598 | |||||||||||
|
| |||||||||||||||||||||
$ | 3,452,697 | $ | 2,339,475 | $ | 362,403 | $ | 252,275 | $ | 77,310 | $ | (27,141 | ) | ||||||||||
|
|
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ANCHOR SERIES TRUST
NOTES TO FINANCIAL STATEMENTS (unaudited)
June 30, 2013
Note 1. Organization
Anchor Series Trust (the “Trust”), organized as a business trust under the laws of the Commonwealth of Massachusetts on August 26, 1983, is an open-end management investment company and consists of 8 separate series or portfolios (each, a “Portfolio” and collectively, the “Portfolios”). The Portfolios are managed by SunAmerica Asset Management Corp. (“SAAMCo” or the “Adviser”), an indirect wholly-owned subsidiary of American International Group, Inc. (“AIG”). Shares of the Trust are issued and redeemed only in connection with investments in and payments under variable annuity contracts and variable life insurance policies (the “Variable Contracts”) of American General Life Insurance Company and The United States Life Insurance Company in the City of New York, each an affiliated insurance company of SAAMCo; and variable contracts issued by Phoenix Life Insurance Company, an unaffiliated life insurance company of SAAMCo. The life insurance companies listed above are collectively referred to as the “Life Companies.” All shares of the Trust are owned by “separate accounts” of the Life Companies. The Trust issues separate series of shares (the “Portfolios”), each of which represents a separate managed Portfolio of securities with its own investment goal. All shares may be purchased or redeemed at net asset value without any sales or redemption charge.
Class 1 shares, Class 2 shares and Class 3 shares of each Portfolio may be offered in connection with certain Variable Contracts. Class 2 and Class 3 shares of a given Portfolio are identical in all respects to Class 1 shares of the same Portfolio, except that (i) each class may bear differing amounts of certain class-specific expenses, (ii) Class 2 and Class 3 shares are subject to service fees, while Class 1 shares are not, and (iii) Class 2 and Class 3 shares have voting rights on matters that pertain to the Rule 12b-1 plan adopted with respect to Class 2 and Class 3 shares. Class 2 and Class 3 shares of each Portfolio pay service fees at an annual rate of 0.15% and 0.25%, respectively, of each class’ average daily net assets.
The investment goal for each Portfolio is as follows:
The Government and Quality Bond Portfolio seeks relatively high current income, liquidity and security of principal by investing, under normal circumstances, at least 80% of net assets in obligations issued, guaranteed or insured by the U.S. government, its agencies or instrumentalities and in high quality corporate fixed income securities (rated AA– or better by Standard & Poor’s Corporation or Aa3 or better by Moody’s Investor Services, Inc.). “Net Assets” will take into account borrowing for investment purposes.
The Asset Allocation Portfolio seeks high total return (including income and capital gains) consistent with long-term preservation of capital by investing in a diversified portfolio that may include common stocks and other securities with common stock characteristics, bonds and other intermediate and long-term fixed income securities and money market instruments.
The Growth and Income Portfolio seeks to provide long-term capital appreciation and current income by investing at least 65% of total assets in core equity securities. “Core equity securities” are stocks, primarily of well-established companies, diversified by industry and company type that are selected based on their predictable or anticipated earnings growth and best relative value.
The Growth Portfolio seeks capital appreciation primarily through investments in core equity securities that are widely diversified by industry and company.
The Capital Appreciation Portfolio seeks long-term capital appreciation by investing primarily in growth equity securities across a wide range of industries and companies, using a wide-ranging and flexible stock selection approach.
The Natural Resources Portfolio seeks a total return, in excess of the U.S. rate of inflation as represented by the Consumer Price Index through investments primarily in equity securities of U.S. or foreign companies that are expected to provide favorable returns in periods of rising inflation, using a value-style investment approach. Under normal market circumstances, at least 80% of net assets are invested in securities related to natural resources, such as energy, metals, mining and forest products.
The Multi-Asset Portfolio seeks long-term total investment return consistent with moderate investment risk by actively allocating the Portfolio’s assets among equity securities, investment grade fixed income securities and cash.
The Strategic Multi-Asset Portfolio seeks high long-term total investment return by actively allocating the Portfolio’s assets among equity securities of U.S. and foreign companies, large, medium and small company equity securities, global fixed income securities (including high-yield, high-risk bonds) and cash.
Indemnifications: The Trust’s organizational documents provide officers and trustees with a limited indemnification against liabilities arising out of the performance of their duties to the Trust. In addition, pursuant to Indemnification Agreements between the Trust and each of the current trustees who is not an “interested person,” as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the “1940 Act”), of the Trust (collectively, the “Disinterested Trustees”), the Trust provides the Disinterested Trustees with a limited indemnification against liabilities arising out of the performance of their duties to the Trust, whether such liabilities are asserted during or after their service as trustees. In addition, in the normal course of business the Trust enters into contracts that contain the obligation to indemnify others. The Trust’s maximum exposure under these arrangements is unknown. Currently, however, the Trust expects the risk of loss to be remote.
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Note 2. Significant Accounting Policies
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates and those differences could be significant. The following is a summary of significant accounting policies consistently followed by the Trust/Fund in the preparation of its financial statements:
Security Valuation
In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Portfolios disclose the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. In accordance with GAAP, fair value is defined as the price that the Portfolios would receive upon selling an asset or transferring a liability in a timely transaction to an independent third party in the principal or most advantageous market. GAAP established a three-tier hierarchy to provide more transparency around the inputs used to measure fair value and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-tiers are as follows:
Level 1 — Unadjusted quoted prices in active markets for identical securities
Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures approved by the Board of Trustees (“the Board”) , etc.).
Level 3 — Significant unobservable inputs (includes inputs that reflect the Portfolios’ own assumptions about the assumptions market participants would use in pricing the security, developed based on the best information available under the circumstances.)
Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. The methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is recently issued and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
The summary of inputs used to value the Portfolios’ net assets as of June 30, 2013 are reported on a schedule following the Portfolio of Investments.
Stocks are generally valued based upon closing sales prices reported on recognized securities exchanges on which the securities are principally traded and are generally categorized as Level 1. Stocks listed on the NASDAQ are valued using the NASDAQ Official Closing Price (“NOCP”). Generally, the NOCP will be the last sale price unless the reported trade for the stock is outside the range of the bid/ask price. In such cases, the NOCP will be normalized to the nearer of the bid or ask price. For listed securities having no sales reported and for unlisted securities, such securities will be valued based upon the last reported bid price.
As of the close of regular trading on the New York Stock Exchange (“NYSE”), securities traded primarily on security exchanges outside the United States are valued at the last sale price on such exchanges on the day of valuation, or if there is no sale on the day of valuation, at the last-reported bid price. If a security’s price is available from more than one exchange, the Portfolios use the exchange that is the primary market for the security. Such securities are generally categorized as Level 1. However, depending on the foreign market, closing prices may be up to 15 hours old when they are used to price the Portfolio’s shares, and the Portfolio may determine that certain closing prices do not reflect the fair value of the security. This determination will be based on review of a number of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. If a Portfolio determines that closing prices do not reflect the fair value of the securities, the Portfolio will adjust the previous closing prices in accordance with pricing procedures approved by the Board to reflect what it believes to be the fair value of the securities as of the close of regular trading on the NYSE. The Portfolios may also fair value securities in other situations, for example, when a particular foreign market is closed but a Portfolio is open. For foreign equity securities and foreign equity futures contracts, the Portfolios use an outside pricing service to provide it with closing market prices and information used for adjusting those prices, and when so adjusted, such securities and futures are generally categorized as Level 2.
Bonds and debentures, other long-term debt securities, and short term debt securities with maturities in excess of 60 days, are valued at bid prices obtained for the day of valuation from a bond pricing service, when such prices are available and are generally categorized
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as Level 2. The pricing services may use valuation models or matrix pricing which considers information with respect to comparable bond and note transactions, quotations from bond dealers, or by reference to other securities that are considered comparable in such characteristics as rating, interest rate, and maturity date, option adjusted spreads models, prepayments projections, interest rate spreads, and yield curves to determine current value. If a vendor quote is unavailable, the securities may be priced at the mean of two independent quotes obtained from brokers.
Short-term securities with 60 days or less to maturity are amortized to maturity based on their cost to the Fund if acquired within 60 days of maturity or, if already held by the Fund on the 60th day, are amortized to maturity based on the value determined on the 61st day, and are generally categorized as Level 2.
Senior secured floating rate loans (“Loans”) for which an active secondary market exists to a reliable degree, will be valued at the mean of the last available bid and ask prices in the market for such Loans, as provided by a third party pricing service, and are generally categorized as Level 2.
Investments in registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Registered investment companies are generally categorized as Level 1.
Futures contracts traded on national securities exchanges are valued at the quoted daily settlement price established by the exchange on which they trade and are generally categorized as Level 1. Options traded on national securities exchanges are valued as of the close of the exchange upon which they trade and are generally categorized as Level 1. Options and swap contracts traded on over-the-counter markets are marked-to-market daily based upon quotations received from an approved outside pricing service or market makers and are generally categorized as Level 2. Forward foreign currency contracts (“forward contracts”) are valued at the 4:00 p.m. Eastern Time forward rate and are generally categorized as Level 2.
Other securities are valued on the basis of last sale or bid price (if a last sale price is not available) which is, in the opinion of the Adviser, the broadest and most representative market, that may be either a securities exchange or over-the-counter market and are generally categorized as Level 1 or Level 2.
The Board is responsible for the share valuation process and has adopted a policy and procedures (the “PRC Procedures”) for valuing the securities and other assets held by the Portfolios, including procedures for the fair valuation of securities and other assets for which market quotations are not readily available or are unreliable. The PRC Procedures provide for the establishment of a pricing review committee, which is responsible for, among other things, making certain determinations in connection with the Trust’s fair valuation procedures. Securities for which market quotations are not readily available or the values of which may be significantly impacted by the occurrence of developments or significant events are generally categorized as Level 3. There is no single standard for making fair value determinations, which may result in prices that vary from those of other funds.
Derivative Instruments:
Forward Foreign Currency Contracts: Certain Portfolios may enter into forward foreign currency contracts (“forward contracts”) for various purposes, including to facilitate settlement of foreign currency denominated Portfolio transactions, to attempt to protect securities and related receivables and payables against changes in future foreign exchange rates, to hedge portfolio exposure to benchmark currency allocations, to manage and/or gain exposure to certain foreign currencies or to enhance total return. During the six months ended June 30, 2013, the Strategic Multi-Asset Portfolio used forward contracts to attempt to protect securities and related receivables and payables against changes in future foreign exchange rates and to enhance total return. As of June 30, 2013, the Strategic Multi-Asset Portfolio had open forward contracts, which are reported on a schedule following the Portfolio’s Portfolio of Investments.
A forward contract is an agreement between two parties to buy or sell currency at a set price on a future date. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market daily using the forward rate and the cumulative change in market value is recorded by the Portfolio as unrealized appreciation or depreciation. On the settlement date, the Portfolio records either realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
Risks to the Portfolios of entering into forward contracts include counterparty risk, market risk and illiquidity risk. Counterparty risk arises upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts. If the counterparty defaults, the Portfolio’s loss will generally consist of the net amount of contractual payments that the Portfolio has not yet received though the Portfolio’s maximum risk due to counterparty risk could extend to the notional amount of the contract. Market risk is the risk that the value of the forward contract will depreciate due to unfavorable changes in the exchange rates. These contracts may involve market risk in excess of the unrealized appreciation or depreciation reported on the Statement of Assets and Liabilities. Illiquidity risk arises because the secondary market for forwards may have less liquidity relative to markets for other securities. Currency transactions are also subject to risks different from those of other Portfolio transactions. Because currency control is of great importance to the issuing governments and influences economic planning and policy, purchases and sales of currency and related instruments can be adversely affected by government exchange controls, limitations or restrictions on repatriation of currency, and manipulations or exchange restrictions imposed by governments.
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Futures: Certain of the Portfolios may enter into futures contracts for various purposes, including to increase or decrease exposure to equity or bond markets, to hedge against changes in interest rates, prices of stocks, bonds or other instruments, or currency rates, to manage duration and yield curve positioning, or to enhance income or total return. During the six months ended June 30, 2013, the Multi-Asset and the Strategic Multi-Asset Portfolios used futures contracts to attempt to increase or decrease exposure to equity and bond markets and to manage duration and yield curve positioning. As of June 30, 2013, the following Portfolios had open futures contracts: Multi-Asset Portfolio and Strategic Multi-Asset Portfolio, which are reported on a schedule following each Portfolio’s Portfolio of Investments.
Common futures contracts include interest rate futures, single stock futures, stock index futures and currency futures. An interest rate futures contract is a contract to buy or sell specified debt securities at a future time for a fixed price. A single stock futures contract is a contract to buy a single stock at a future time for a fixed price. A stock index futures contract is similar in economic effect to a single stock futures contract, except that rather than being based on a specific security it is based on a specified index of stocks and not the stocks themselves. A currency futures contract is a contract to buy or sell a specific foreign currency at a future time for a fixed price.
A futures contract is an agreement between two parties to buy and sell a financial instrument at a set price on a future date. Upon entering into a futures transaction, a Portfolio will be required to segregate an initial margin payment of cash or other liquid securities with the Futures Commission Merchant (the “broker”). Subsequent payments, known as “variation margin” are made or received by the Portfolio as a result of changes in the value of the contract and/or changes in the value of the initial margin requirement. Such receipts or payments are recorded in the Statement of Assets and Liabilities as variation margin for changes in the value of the contracts and as due to/from broker for the changes in the value of the initial margin requirement. When a contract is closed, the Portfolios record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
The primary risk to the Portfolios of entering into futures contracts is market risk. Market risk is the risk that there will be an unfavorable change in the interest rate, value or currency rate of the underlying security(ies). Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed on the Statement of Assets and Liabilities. There may also be trading restrictions or limitations imposed by an exchange, and government regulations may restrict trading in futures contracts. While the Portfolios will generally only purchase exchange-traded futures, due to market conditions, there may not always be a liquid secondary market for a futures contract and, as a result, a Portfolio may be unable to close out its futures contracts at a time which is advantageous. In addition, if a Portfolio has insufficient cash to meet margin requirements, the Portfolio may need to sell other investments, including at disadvantageous times. There is generally minimal counterparty risk to the Portfolios since the futures contracts are generally exchange-traded.
At June 30, 2013, the amount shown in the Statements of Assets and Liabilities as due from broker for the Multi-Asset Portfolio and the Strategic Multi-Asset Portfolio includes amounts set aside for margin requirements for open futures contracts.
Options: Certain Portfolios may enter into option contracts for various purposes, including to facilitate trading, increase or decrease a Portfolio’s market exposure, to seek higher investment returns, to seek protection against a decline in the value of a Portfolio’s securities or an increase in prices of securities that may be purchased, or to generate income. During the six months ended June 30, 2013, the Capital Appreciation Portfolio used options contracts to seek protection against a decline in value of the Portfolio’s securities. As of June 30, 2013, none of the Portfolios had open options contracts.
An option is a contract conveying a right to buy or sell a financial instrument at a specified price during a stipulated period. When a Portfolio writes a call or a put option, it receives a premium which is equal to the current market value of the option written. The premiums on written options are recorded as a liability on the Statement of Assets and Liabilities. If a Portfolio purchases a call or a put option, it pays a premium which reflects the current market value of the option and which is included on the Portfolio’s Statement of Assets and Liabilities as an investment. The option position is marked to market daily and its value fluctuates based upon the value of the underlying financial instrument, time to expiration, cost of borrowing funds, and volatility of the value of the underlying financial instrument. If an option which the Portfolio has written either expires on its stipulated expiration date, or if the Portfolio enters into a closing purchase transaction, the Portfolio realizes a gain (or loss if the cost of a closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such options is extinguished. If a call option which the Portfolio has written is exercised, the Portfolio realizes a gain or loss from the sale of the underlying security and the proceeds from such sale are increased by the premium originally received. If a put option which the Portfolio has written is exercised, the amount of the premium originally received reduces the cost of the security which the Portfolio purchased upon exercise of the option. Options may be traded on a national securities exchange or in the over-the-counter (OTC) market.
Risks to the Portfolios of entering into option contracts include counterparty risk, market risk and, with respect to OTC options, illiquidity risk. Counterparty risk arises from the potential inability of counterparties to meet the terms of their contracts. If the counterparty defaults, the Portfolio’s loss will consist of the net amount of contractual payments that the Portfolio has not yet received. Market risk is the risk that there will be an unfavorable change in the value of the underlying securities. There is also the risk the Portfolio may not be able to enter into a closing transaction because of an illiquid market. In addition, unlisted options are not traded on an exchange and may not be as actively traded as listed options, making the valuation of such securities more difficult. An unlisted option also entails a greater risk that the party on the other side of the option transaction may default, which would make it impossible
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to close out an unlisted option position in some cases, and profits related to the transaction lost thereby. During the six months ended June 30, 2013, none of the Portfolios had transactions in options written.
Master Agreements: Certain Portfolios that hold derivative instruments and other financial instruments may be a party to ISDA (International Swap and Derivatives Association, Inc.) Master Agreements or similar agreements (“Master Agreements”) with certain counterparties that govern certain instruments. The Master Agreement may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. Collateral can be in the form of cash or securities as agreed to by the Portfolio and applicable counterparty. Collateral requirements are generally determined based on a Portfolio’s net position with each counterparty. The Master Agreements may contain certain provisions that require a Portfolio to post additional collateral upon the occurrence of certain events, such as when a Portfolio’s net assets fall below a specified level. The Master Agreements also typically specify certain standard termination events, such as failure of a party to pay or deliver, credit support defaults and other events of default. Termination events applicable to a Portfolio may also occur upon a decline in the Portfolio’s net assets below a specified level over a certain period of time. Additional termination events applicable to counterparties may occur upon a decline in a counterparty’s long-term and short-term credit ratings below a specified level, or upon a decline in the ratings of a counterparty’s credit support provider. Upon the occurrence of a termination event, the other party may elect to terminate early and cause settlement of all instruments outstanding pursuant to a particular Master Agreement, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of a Portfolio’s counterparties to elect early termination could cause the Portfolio to accelerate the payment of liabilities, which settlement amounts could be in excess of the amount of assets that are already posted as collateral. Typically the Master Agreement will permit a single net payment in the event of default. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. As a result, the early termination with respect to instruments subject to Master Agreements that are in a net liability position could be material to the Portfolio’s financial statements. See additional information on specific types of derivative instruments and other financial instruments as disclosed in the Notes to the Financial Statements.
The Portfolios do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Asset and Liabilities.
The following tables represent the value of derivatives held as of June 30, 2013, by their primary underlying risk exposure and respective location on the Statement of Assets and Liabilities and the effect of derivatives on the Statement of Operations For the six months ended June 30, 2013:
Capital Appreciation Portfolio | ||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||
Derivative Contracts(1) | Statements of Assets and | Value | Statements of Assets and | Value | ||||||||
Equity contracts(2) | Call and put options purchased, at value | $ | — | Call and put options purchased, at value | $ | — | ||||||
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|
|
Derivative Contracts(1) | Location of Gain (Loss) on Derivatives Recognized in Statement of Operations | Realized Gain (Loss) on Derivatives Recognized in Statement of Operations | Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations | |||||||
Equity contracts(2)(3)(4) | Net realized gain (loss) on investments (unaffiliated)/Change in unrealized appreciation (depreciation) on investments (unaffiliated) | $ | (396,937 | ) | $ | — | ||||
|
|
|
|
(1) | The Portfolio’s derivative contracts held during the six months ended June 30, 2013, are not accounted for as hedging instruments under accounting principles generally accepted in the United States of America. |
(2) | The average value outstanding for equity purchased options contracts was $63,500. |
(3) | Net realized gain (loss) on purchased options is included in net realized gain (loss) on investments (unaffiliated) line of the Statement of Operations. |
(4) | The change in unrealized appreciation (depreciation) on purchased options is included in change in unrealized appreciation (depreciation) on investments (unaffiliated) line of the Statement of Operations. |
Multi-Asset Portfolio | ||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||
Derivative Contracts(1) | Statements of Assets and | Value | Statements of Assets and | Value | ||||||||
Equity contracts (2)(4) | Variation margin on futures contracts | $ | 1,095 | Variation margin on futures contracts | $ | — | ||||||
Interest rate contracts (3)(4) | Variation margin on futures contracts | 78 | Variation margin on futures contracts | 47 | ||||||||
|
|
|
| |||||||||
$1,173 | $ | 47 | ||||||||||
|
|
|
|
| ||
80 |
Table of Contents
Derivative Contracts(1) | Location of Gain (Loss) on Derivatives Recognized in Statement of Operations | Realized Gain (Loss) on Derivatives Recognized in Statement of Operations | Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations | |||||||||
Equity contracts(2) | Net realized gain (loss) on futures contracts and options contracts/Change in unrealized appreciation (depreciation) on futures contracts and options contracts | $ | (4,995 | ) | $ | 7,072 | ||||||
Interest rate contracts(3) | Net realized gain (loss) on futures contracts and written options contracts/Change in unrealized appreciation (depreciation) on futures contracts and written options contracts | 6,633 | (758 | ) | ||||||||
|
|
|
|
| ||||||||
$ | 1,638 | $ | 6,314 | |||||||||
|
|
|
|
|
(1) | The Portfolio’s derivative contracts held during the six months ended June 30, 2013, are not accounted for as hedging instruments under accounting principles generally accepted in the United States of America. |
(2) | The average value outstanding for equity futures contracts was $142. |
(3) | The average value outstanding for interest rate futures was $433,333. |
(4) | The variation margin on futures contracts is included in the cumulative unrealized appreciation (depreciation) of $1,744 as reported in the Portfolio of Investments. |
Strategic Multi-Asset Portfolio | ||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||
Derivative Contracts(1) | Statements of Assets and | Value | Statements of Assets and | Value | ||||||||
Equity contracts (2)(5) | Variation margin on futures contracts | $ | 515 | Variation margin on futures contracts | $ | — | ||||||
Interest rate contracts (3)(5) | Variation margin on futures contracts | — | Variation margin on futures contracts | 77 | ||||||||
Foreign exchange contracts (4) | Unrealized appreciation on forward foreign currency contracts | 150,151 | Unrealized depreciation on forward foreign currency contracts | 46,929 | ||||||||
|
|
|
| |||||||||
$ | 150,666 | $ | 47,006 | |||||||||
|
|
|
|
Derivative Contracts(1) | Location of Gain (Loss) on Derivatives Recognized in Statement of Operations | Realized Gain (Loss) on Derivatives Recognized in Statement of Operations | Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations | |||||||
Equity contracts (2) | Net realized gain (loss) on futures contracts and options contracts/Change in unrealized appreciation (depreciation) on futures contracts and options contracts | $ | 55,159 | $ | 3,265 | |||||
Interest rate contracts (3) | Net realized gain (loss) on futures contracts and options contracts/Change in unrealized appreciation (depreciation) on futures contracts and options contracts | 4,983 | 1,154 | |||||||
Foreign exchange contracts (4) | Net realized foreign exchange gain (loss) on other assets and liabilities/Change in unrealized foreign exchange gain (loss) on other assets and liabilities | 73,736 | 197,682 | |||||||
|
|
|
| |||||||
$ | 133,878 | $ | 202,101 | |||||||
|
|
|
|
(1) | The Portfolio’s derivative contracts held during the six months ended June 30, 2013, are not accounted for as hedging instruments under accounting principles generally accepted in the United States of America. |
(2) | The average value outstanding for equity futures contracts was $133. |
(3) | The average value outstanding for interest rate futures was $200,000. |
(4) | The average notional amount outstanding for forward foreign currency contracts was $14,035,454. |
(5) | The variation margin on futures contracts is included in the cumulative unrealized appreciation (depreciation) of $2,419 as reported in the Portfolio of Investments. |
| ||
81 |
Table of Contents
As of June 30, 2013, the following tables represent derivative and financial assets and liabilities (by type) on a gross basis and related collateral pledged for derivatives and financial instruments subject to master netting arrangements:
Assets: | Government and Quality Bond Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 112,225,000 | — | 112,225,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 112,225,000 | $ | — | $ | 112,225,000 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
Bank of America Securities LLC | $ | 1,885,000 | $ | (1,885,000 | ) | $ | — | $ | — | |||||||
Barclays Capital PLC | 45,090,000 | (45,090,000 | ) | — | — | |||||||||||
BNP Paribas SA | 19,315,000 | (19,315,000 | ) | — | — | |||||||||||
Deutsche Bank AG | 1,980,000 | (1,980,000 | ) | — | — | |||||||||||
Royal Bank of Scotland | 25,755,000 | (25,755,000 | ) | — | — | |||||||||||
UBS Securities LLC | 18,200,000 | (18,200,000 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 112,225,000 | $ | (112,225,000 | ) | $ | — | — | |||||||||
|
|
|
|
|
|
|
|
Liabilities: | Government and Quality Bond Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
| ||
82 |
Table of Contents
Assets: | Asset Allocation Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 5,785,000 | — | 5,785,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 5,785,000 | $ | — | $ | 5,785,000 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
State Street Bank and Trust Co. | $ | 5,785,000 | $ | (5,785,000 | ) | $ | — | $ | — | |||||||
|
|
|
|
|
|
|
|
Liabilities: | Asset Allocation Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
| ||
83 |
Table of Contents
Assets: | Growth and Income Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 1,620,000 | — | 1,620,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 1,620,000 | $ | — | $ | 1,620,000 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
Bank of America Securities LLC | $ | 25,000 | $ | (25,000 | ) | $ | — | $ | — | |||||||
Barclays Capital PLC | 665,000 | (665,000 | ) | — | — | |||||||||||
BNP Paribas SA | 275,000 | (275,000 | ) | — | — | |||||||||||
Deutsche Bank AG | 25,000 | (25,000 | ) | — | — | |||||||||||
Royal Bank of Scotland | 370,000 | (370,000 | ) | — | — | |||||||||||
UBS Securities LLC | 260,000 | (260,000 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
$ |
1,620,000 |
|
$ |
(1,620,000 |
) |
$ |
— |
|
|
— |
| |||||
|
|
|
|
|
|
|
|
Liabilities: | Growth and Income Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
| ||
84 |
Table of Contents
Assets: | Growth Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 10,840,000 | — | 10,840,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 10,840,000 | $ | — | $ | 10,840,000 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
Bank of America Securities LLC | $ | 180,000 | $ | (180,000 | ) | $ | — | $ | — | |||||||
Barclays Capital PLC | 4,365,000 | (4,365,000 | ) | — | — | |||||||||||
BNP Paribas SA | 1,865,000 | (1,865,000 | ) | — | — | |||||||||||
Deutsche Bank AG | 190,000 | (190,000 | ) | — | — | |||||||||||
Royal Bank of Scotland | 2,485,000 | (2,485,000 | ) | — | — | |||||||||||
UBS Securities LLC | 1,755,000 | (1,755,000 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 10,840,000 | $ | (10,840,000 | ) | $ | — | — | |||||||||
|
|
|
|
|
|
|
|
Liabilities: | Growth Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
| ||
85 |
Table of Contents
Assets: | Capital Appreciation Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 33,200,000 | — | 33,200,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 33,200,000 | $ | — | $ | 33,200,000 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
Bank of America Securities LLC | $ | 555,000 | $ | (555,000 | ) | $ | — | $ | — | |||||||
Barclays Capital PLC | 13,350,000 | (13,350,000 | ) | — | — | |||||||||||
BNP Paribas SA | 5,710,000 | (5,710,000 | ) | — | — | |||||||||||
Deutsche Bank AG | 585,000 | (585,000 | ) | — | — | |||||||||||
Royal Bank of Scotland | 7,615,000 | (7,615,000 | ) | — | — | |||||||||||
UBS Securities LLC | 5,385,000 | (5,385,000 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 33,200,000 | $ | (33,200,000 | ) | $ | — | — | |||||||||
|
|
|
|
|
|
|
|
Liabilities: | Capital Appreciation Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
| ||
86 |
Table of Contents
Assets: | Natural Resources Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 9,865,000 | — | 9,865,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 9,865,000 | $ | — | $ | 9,865,000 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
Bank of America Securities LLC | $ | 165,000 | $ | (165,000 | ) | $ | — | $ | — | |||||||
Barclays Capital PLC | 3,975,000 | (3,975,000 | ) | — | — | |||||||||||
BNP Paribas SA | 1,695,000 | (1,695,000 | ) | — | — | |||||||||||
Deutsche Bank AG | 170,000 | (170,000 | ) | — | — | |||||||||||
Royal Bank of Scotland | 2,260,000 | (2,260,000 | ) | — | — | |||||||||||
UBS Securities LLC | 1,600,000 | (1,600,000 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 9,865,000 | $ | (9,865,000 | ) | $ | — | — | |||||||||
|
|
|
|
|
|
|
|
Liabilities: | Natural Resources Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | — | $ | — | $ | — | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
| ||
87 |
Table of Contents
Assets: | Multi-Asset Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | 1,173 | $ | — | $ | 1,173 | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | 1,173 | — | 1,173 | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 2,360,000 | — | 2,360,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 2,361,173 | $ | — | $ | 2,361,173 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
Bank of America Securities LLC | $ | 35,000 | $ | (35,000 | ) | $ | — | $ | — | |||||||
Barclays Capital PLC | 960,000 | (960,000 | ) | — | — | |||||||||||
BNP Paribas SA | 405,000 | (405,000 | ) | — | — | |||||||||||
Deutsche Bank AG | 40,000 | (40,000 | ) | — | — | |||||||||||
Goldman Sachs & Co.* | 1,173 | (47 | ) | — | 1,126 | |||||||||||
Royal Bank of Scotland | 540,000 | (540,000 | ) | — | — | |||||||||||
UBS Securities LLC | 380,000 | (380,000 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 2,361,173 | $ | (2,360,047 | ) | $ | — | $ | 1,126 | ||||||||
|
|
|
|
|
|
|
|
* | Exchange Traded Futures — Goldman Sachs & Co. as Futures Commission Merchant |
Liabilities: | Multi-Asset Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | 47 | $ | — | $ | 47 | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | 47 | — | 47 | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 47 | $ | — | $ | 47 | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
Goldman Sachs & Co.* | $ | 47 | $ | (47 | ) | $ | — | $ | — | |||||||
|
|
|
|
|
|
|
|
* | Exchange Traded Futures — Goldman Sachs & Co. as Futures Commission Merchant |
| ||
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Assets: | Strategic Multi-Asset Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | 515 | $ | — | $ | 515 | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | 150,151 | — | 150,151 | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | 150,666 | — | 150,666 | |||||||||
|
|
|
|
|
| |||||||
Repurchase Agreements subject to a master netting arrangement or similar arrangement | 595,000 | — | 595,000 | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 745,666 | $ | — | $ | 745,666 | ||||||
|
|
|
|
|
|
Net Amounts of Assets in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Received | ||||||||||||||
Bank of America Securities LLC | $ | 10,000 | $ | (10,000 | ) | $ | — | $ | — | |||||||
Barclays Capital PLC | 245,000 | (245,000 | ) | — | — | |||||||||||
BNP Paribas SA | 100,000 | (100,000 | ) | — | — | |||||||||||
Deutsche Bank AG | 10,000 | (10,000 | ) | — | — | |||||||||||
Goldman Sachs & Co.* | 515 | (77 | ) | — | 438 | |||||||||||
Royal Bank of Scotland | 135,000 | (135,000 | ) | — | — | |||||||||||
UBS Securities LLC | 95,000 | (95,000 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 595,515 | $ | (595,077 | ) | $ | — | $ | 438 | ||||||||
|
|
|
|
|
|
|
|
* | Exchange Traded Futures — Goldman Sachs & Co. as Futures Commission Merchant. |
Liabilities: | Strategic Multi-Asset Portfolio | |||||||||||
Description: | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Statement of Assets and Liabilities | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | |||||||||
Derivatives | ||||||||||||
Total derivatives, subject to a master netting arrangement or similar arrangement | $ | 77 | $ | — | $ | 77 | ||||||
|
|
|
|
|
| |||||||
Total derivatives, not subject to a master netting arrangement or similar arrangement | 46,929 | — | 46,929 | |||||||||
|
|
|
|
|
| |||||||
Total derivatives | 47,006 | — | 47,006 | |||||||||
|
|
|
|
|
| |||||||
Other financial instruments | — | — | — | |||||||||
|
|
|
|
|
| |||||||
Total | $ | 47,006 | $ | — | $ | 47,006 | ||||||
|
|
|
|
|
|
Net Amounts of Liabilities in the Statement of Assets and Liabilities | Gross Amounts Not Offset in the Statement of Assets and Liabilities | Net Amount | ||||||||||||||
Counterparty: | Financial Instruments | Cash Collateral Pledged | ||||||||||||||
Goldman Sachs & Co.* | $ | 77 | $ | (77 | ) | $ | — | $ | — | |||||||
|
|
|
|
|
|
|
|
* | Exchange Traded Futures — Goldman Sachs & Co. as Futures Commission Merchant. |
| ||
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Foreign Currency Translation: The books and records of the Portfolios are maintained in U.S. dollars. Assets and liabilities denominated in foreign currencies and commitments under forward foreign currency contracts are translated into U.S. dollars based on the exchange rate of such currencies against U.S. dollars on the date of valuation.
The Portfolios do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in the market prices of securities held at the end of the period.
Similarly, the Portfolios do not isolate the effect of changes in foreign exchange rates from the changes in the market prices of portfolio securities sold during the period.
Realized foreign exchange gains and losses on other assets and liabilities and change in unrealized foreign exchange gains and losses on other assets and liabilities located in the Statement of Operations include realized foreign exchange gains and losses from currency gains or losses between the trade and the settlement dates of securities transactions, the difference between the amounts of interest, dividends and foreign withholding taxes recorded on the Portfolios’ books and the U.S. dollar equivalent amounts actually received or paid and changes in the unrealized foreign exchange gains and losses relating to the other assets and liabilities arising as a result of changes in the exchange rates and realized gains and losses on forward foreign currency contracts.
Securities Transactions, Investment Income, Expenses, Dividends and Distributions to Shareholders: Security transactions are recorded on a trade date basis. Realized gains and losses on the sale of investments are calculated on the identified cost basis. For financial statement purposes, the Portfolios amortize all premiums and accrete all discounts on fixed income securities.
Interest income is accrued daily from settlement date except when collection is not expected. Dividend income is recorded on the ex-dividend date except for certain dividends from foreign securities, which are recorded as soon as the Trust is informed after the ex-dividend date. Paydown gains and losses on mortgage and asset-backed securities are recorded as components of interest income on the Statement of Operations.
Portfolios which earn foreign income and capital gains may be subject to foreign withholding taxes and capital gains taxes at various rates. Under applicable foreign law, a withholding of tax may be imposed on interest, dividends, and capital gains from the sale of foreign securities at various rates. India, Thailand, and certain other countries’ tax regulations require that taxes be paid on capital gains realized by the Portfolio.
Distributions received from the Portfolio‘s investments in U.S. real estate investment trusts (“REITS”) often include a “return of capital” which is recorded by the Portfolios as a reduction to the cost basis of the securities held.
Net investment income, expenses other than class specific expenses, and realized and unrealized gains and losses are allocated daily to each class of shares based upon the relative net asset value of outstanding shares of each class of shares at the beginning of the day (after adjusting for current capital shares activity of the respective class).
Expenses common to all Portfolios, not directly related to individual Portfolios are allocated among the Portfolios based upon relative net assets or other appropriate allocation methods. In all other respects, expenses are charged to each Portfolio as incurred on a specific identification basis.
Dividends from net investment income and capital gain distributions, if any, are paid annually for all Portfolios. The Portfolios record dividends and distributions to their shareholders on the ex-dividend date.
The amount of dividends and distributions from net investment income and net realized capital gains are determined and presented in accordance with federal income tax regulations, which may differ from U.S. generally accepted accounting principles. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the capital accounts at fiscal year end based on their federal tax-basis treatment; temporary differences do not require reclassification. Net assets are not affected by these reclassifications.
Each Portfolio is considered a separate entity for tax purposes and intends to comply with the requirements of the Internal Revenue Code, as amended, applicable to regulated investment companies and distribute all of its taxable income, including any net capital gains on investments, to its shareholders. Each Portfolio also intends to distribute sufficient net investment income and net capital gains, if any, so that each Portfolio will not be subject to excise tax on undistributed income and gains. Therefore, no federal income tax or excise tax provision is required.
Each Portfolio recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained, assuming examination by tax authorities. Management has analyzed each Portfolio’s tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years 2009 – 2011 or expected to be taken in each Portfolio’s 2012 tax return. The Portfolios are not aware of any tax provisions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. The Portfolios file U.S. federal and certain state income tax returns. With few exceptions, the Portfolios are no longer subject to U.S. federal and state tax examinations by tax authorities for tax returns ending before 2009.
Repurchase Agreements: The Portfolios, along with other affiliated registered investment companies, pursuant to procedures adopted by the Board and applicable guidance from the Securities and Exchange Commission (“SEC”), may transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by U.S.
| ||
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Treasury or federal agency obligations. In a repurchase agreement, the seller of a security agrees to repurchase the security at a mutually agreed-upon time and price, which reflects the effective rate of return for the term of the agreement. For repurchase agreements and joint repurchase agreements, the Trusts’ custodian takes possession of the collateral pledged for investments in such repurchase agreements (“repo” or collectively “repos”). The underlying collateral is valued daily on a mark to market basis, plus accrued interest to ensure that the value, at the time the agreement is entered into, is equal to at least 102% of the repurchase price, including accrued interest. In the event of default of the obligation to repurchase, the Portfolio has the right to liquidate the collateral and apply the proceeds in satisfaction of the obligation. If the seller defaults and the value of the collateral declines or if bankruptcy proceedings are commenced with respect to the seller of the security, realization of the collateral by the Trust may be delayed or limited.
As of June 30, 2013, the following Portfolios held an undivided interest in the joint repurchase agreement with Bank of America Securities LLC:
Portfolio | Percentage Ownership | Principal Amount | ||||||
Government and Quality Bond | 25.86 | % | $ | 1,885,000 | ||||
Growth and Income | 0.34 | 25,000 | ||||||
Growth | 2.47 | 180,000 | ||||||
Capital Appreciation | 7.61 | 555,000 | ||||||
Natural Resources | 2.26 | 165,000 | ||||||
Multi-Asset | 0.48 | 35,000 | ||||||
Strategic Multi-Asset | 0.14 | 10,000 |
As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:
Bank of America Securities LLC, dated June 28, 2013, bearing interest at a rate of 0.09% per annum, with a principal amount of $7,290,000, a repurchase price of $7,290,055, and a maturity date of July 1, 2013. The repurchase agreement is collateralized by the following:
Type of Collateral | Interest Rate | Maturity Date | Principal Amount | Market Value | ||||||||||||
U.S. Treasury Notes | 0.38 | % | 03/15/2016 | $ | 7,526,000 | $ | 7,492,359 |
As of June 30, 2013, the following Portfolios held an undivided interest in the joint repurchase agreement with Barclays Capital PLC:
Portfolio | Percentage Ownership | Principal Amount | ||||||
Government and Quality Bond | 25.73 | % | $ | 45,090,000 | ||||
Growth and Income | 0.38 | 665,000 | ||||||
Growth | 2.49 | 4,365,000 | ||||||
Capital Appreciation | 7.62 | 13,350,000 | ||||||
Natural Resources | 2.27 | 3,975,000 | ||||||
Multi-Asset | 0.55 | 960,000 | ||||||
Strategic Multi-Asset | 0.14 | 245,000 |
As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:
Barclays Capital PLC, dated June 28, 2013, bearing interest at a rate of 0.10% per annum, with a principal amount of $175,220,000, a repurchase price of $175,221,460, and a maturity date of July 1, 2013. The repurchase agreement is collateralized by the following:
Type of Collateral | Interest Rate | Maturity Date | Principal Amount | Market Value | ||||||||||||
U.S. Treasury Notes | 0.38 | % | 01/15/2016 | $ | 178,948,000 | $ | 178,582,946 |
As of June 30, 2013, the following Portfolios held an undivided interest in the joint repurchase agreement with BNP Paribas SA:
Portfolio | Percentage Ownership | Principal Amount | ||||||
Government and Quality Bond | 25.77 | % | $ | 19,315,000 | ||||
Growth and Income | 0.37 | 275,000 | ||||||
Growth | 2.49 | 1,865,000 | ||||||
Capital Appreciation | 7.62 | 5,710,000 | ||||||
Natural Resources | 2.26 | 1,695,000 | ||||||
Multi-Asset | 0.54 | 405,000 | ||||||
Strategic Multi-Asset | 0.13 | 100,000 |
| ||
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As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:
BNP Paribas SA, dated June 28, 2013, bearing interest at a rate of 0.10% per annum, with a principal amount of $74,955,000, a repurchase price of $74,955,625, and a maturity date of July 1, 2013. The repurchase agreement is collateralized by the following:
Type of Collateral | Interest Rate | Maturity Date | Principal Amount | Market Value | ||||||||||||
U.S. Treasury Notes | 0.88 | % | 02/28/2017 | $ | 76,500,000 | $ | 76,505,355 |
As of June 30, 2013, the following Portfolios held an undivided interest in the joint repurchase agreement with Deutsche Bank AG:
Portfolio | Percentage Ownership | Principal Amount | ||||||
Government and Quality Bond | 25.88 | % | $ | 1,980,000 | ||||
Growth and Income | 0.33 | 25,000 | ||||||
Growth | 2.48 | 190,000 | ||||||
Capital Appreciation | 7.65 | 585,000 | ||||||
Natural Resources | 2.22 | 170,000 | ||||||
Multi-Asset | 0.52 | 40,000 | ||||||
Strategic Multi-Asset | 0.13 | 10,000 |
As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:
Deutsche Bank AG, dated June 28, 2013, bearing interest at a rate of 0.10% per annum, with a principal amount of $7,650,000, a repurchase price of $7,650,064, and a maturity date of July 1, 2013. The repurchase agreement is collateralized by the following:
Type of Collateral | Interest Rate | Maturity Date | Principal Amount | Market Value | ||||||||||||
U.S. Treasury Notes | 0.88 | % | 01/31/2017 | $ | 7,832,000 | $ | 7,845,549 |
As of June 30, 2013, the following Portfolios held an undivided interest in the joint repurchase agreement with Royal Bank of Scotland:
Portfolio | Percentage Ownership | Principal Amount | ||||||
Government and Quality Bond | 25.77 | % | $ | 25,755,000 | ||||
Growth and Income | 0.37 | 370,000 | ||||||
Growth | 2.49 | 2,485,000 | ||||||
Capital Appreciation | 7.62 | 7,615,000 | ||||||
Natural Resources | 2.26 | 2,260,000 | ||||||
Multi-Asset | 0.54 | 540,000 | ||||||
Strategic Multi-Asset | 0.14 | 135,000 |
As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:
Royal Bank of Scotland, dated June 28, 2013, bearing interest at a rate of 0.10% per annum, with a principal amount of $99,950,000, a repurchase price of $99,950,833, and a maturity date of July 1, 2013. The repurchase agreement is collateralized by the following:
Type of Collateral | Interest Rate | Maturity Date | Principal Amount | Market Value | ||||||||||||
U.S. Treasury Notes | 2.63 | % | 07/31/2014 | $ | 98,354,000 | $ | 102,001,950 |
As of June 30, 2013, the following Portfolios held an undivided interest in the joint repurchase agreement with UBS Securities LLC:
Portfolio | Percentage Ownership | Principal Amount | ||||||
Government and Quality Bond | 25.77 | % | $ | 18,200,000 | ||||
Growth and Income | 0.37 | 260,000 | ||||||
Growth | 2.48 | 1,755,000 | ||||||
Capital Appreciation | 7.62 | 5,385,000 | ||||||
Natural Resources | 2.27 | 1,600,000 | ||||||
Multi-Asset | 0.54 | 380,000 | ||||||
Strategic Multi-Asset | 0.13 | 95,000 |
As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:
UBS Securities LLC, dated June 28, 2013, bearing interest at a rate of 0.09% per annum, with a principal amount of $70,635,000, a repurchase price of $70,635,530, and a maturity date of July 1, 2013. The repurchase agreement is collateralized by the following:
Type of Collateral | Interest Rate | Maturity Date | Principal Amount | Market Value | ||||||||||||
U.S. Treasury Notes | 0.63 | % | 07/15/2014 | $ | 71,816,400 | $ | 72,337,787 |
| ||
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Mortgage-Backed Dollar Rolls: During the six months ended June 30, 2013, Government and Quality Bond and Multi-Asset Portfolio entered into dollar rolls using “to be announced” (“TBA”) mortgage-backed securities (“TBA Rolls”). Roll transactions involve the sale of mortgage or other asset backed securities with the commitment to purchase substantially similar securities on a specified future date. The Portfolio’s policy is to record the components of TBA Rolls as purchase/sale transactions. Any difference between the purchase and sale price is recorded as a realized gain or loss on the date the transaction is entered into. The Government and Quality Bond and Multi-Asset Portfolio had TBA Rolls outstanding at the period end, which are included in receivable for investments sold and payable for investments purchased in the Statements of Assets and Liabilities. Dollar roll transactions involve the risk that the market value of the securities held by the Portfolio may decline below the price of the securities that the Portfolio has sold but is obligated to repurchase under the agreement. In the event that the buyer of securities in a dollar roll transaction files bankruptcy or becomes insolvent, the Portfolio‘s use of the proceeds from the sale of the securities may be restricted pending a determination by the other party, or its trustee or receiver, whether to enforce the Portfolio‘s obligation to repurchase the securities. The return earned by the Portfolio with the proceeds of the dollar roll transaction may not exceed the transaction costs. For the six months ended June 30, 2013, the Government and Quality Bond Portfolio, and Multi-Asset Portfolio had realized gains (losses) from mortgage-backed dollar rolls of $451,275, and $(12,250), respectively.
When-Issued Securities and Forward Commitments: The Portfolios may purchase or sell when-issued securities, including TBA securities that have been authorized, but not yet issued in the market. In addition, a Portfolio may purchase or sell securities on a forward commitment basis. A forward commitment involves entering into a contract to purchase or sell securities, typically on an extended settlement basis, for a fixed price at a future date. The Portfolios may engage in when-issued or forward commitment transactions in order to secure what is considered to be an advantageous price and yield at the time of entering into the obligation. The purchase of securities on a when-issued or forward commitment basis involves a risk of loss if the value of the security to be purchased declines before the settlement date. Conversely, the sale of securities on a when-issued or forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. For the six months ended June 30, 2013, the Government and Quality Bond Portfolio and Multi-Asset Portfolio purchased and/or sold when-issued securities and/or forward commitments.
New Accounting Pronouncements: In December 2011, the FASB issued Accounting Standards Update (“ASU”) No. 2011-11 “Disclosures about Offsetting Assets and Liabilities” which was subsequently clarified in ASU 2013-01 “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” which was issued in January 2013. The amended Standard requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. The new and revised disclosures are effective for annual reporting periods beginning after January 1, 2013. All required changes to accounting policies have been made in accordance with ASU No. 2011-11 and 2013-01.
Note 3. Investment Advisory Agreement and Other Transactions with Affiliates
The Trust has entered into an Investment Advisory and Management Agreement (the “Management Agreement”) with SAAMCo, an indirect wholly-owned subsidiary of AIG with respect to each Portfolio. SAAMCo serves as manager for each of the Portfolios. The Management Agreement provides that SAAMCo shall act as investment adviser to the Trust; manage the Trust’s investments; administer its business affairs; furnish offices, necessary facilities and equipment; provide clerical, bookkeeping and administrative services; and permit any of its officers or employees to serve, without compensation, as trustees or officers of the Trust, if duly elected to such positions.
The Trust pays SAAMCo a monthly fee calculated daily at the following annual percentages of each Portfolio’s average daily net assets:
Portfolio | Average Daily Net Assets | Management Fee | ||||||
Government and | ||||||||
Quality Bond | $0-$200 million | .625% | ||||||
> | $200 million | .575% | ||||||
> | $500 million | .500% | ||||||
Asset Allocation | $0-$50 million | .750% | ||||||
> $50 million | .650% | |||||||
> | $150 million | .600% | ||||||
> | $250 million | .550% | ||||||
Growth and Income | $0-$100 million | .700% | ||||||
> | $100 million | .650% | ||||||
> | $250 million | .600% | ||||||
> | $500 million | .575% |
Portfolio | Average Daily Net Assets | Management Fee | ||||||
Growth | $0-$250 million | .750% | ||||||
> | $250 million | .675% | ||||||
> | $500 million | .600% | ||||||
Capital Appreciation | $0-$50 million | .750% | ||||||
> | $50 million | .725% | ||||||
> | $100 million | .700% | ||||||
Natural Resources | > | $0 | .750% | |||||
Multi-Asset | $0-$200 million | 1.000% | ||||||
> | $200 million | .875% | ||||||
> | $500 million | .800% | ||||||
Strategic Multi-Asset | $0-$200 million | 1.000% | ||||||
> | $200 million | .875% | ||||||
> | $500 million | .800% |
| ||
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Wellington Management Company, LLP (“Wellington Management”) and EDGE Asset Management, Inc. (“EDGE”), act as Subadvisers to the Trust pursuant to Subadvisory Agreements with SAAMCo. Under the Subadvisory Agreements, Wellington Management and EDGE manage the investment and reinvestment of the assets of the Portfolios of the Trust. Wellington Management and EDGE are independent of SAAMCo and discharge their responsibilities subject to the policies of the Trustees and oversight and supervision of SAAMCo, which pays Wellington Management and EDGE fees out of advisory fees it receives from the Portfolios.
The portion of the investment advisory fees received by SAAMCo which are paid to Wellington Management for all Portfolios except Asset Allocation which is paid to EDGE, are as follows:
Portfolio | Average Daily Net Assets | Subadvisory Fee | ||||||
Government and Quality Bond | $0-$50 million | .225% | ||||||
> | $50 million | .125% | ||||||
> | $100 million | .100% | ||||||
Asset Allocation | $0-$50 million | .400% | ||||||
> | $50 million | .300% | ||||||
> | $150 million | .250% | ||||||
> | $250 million | .200% | ||||||
Growth and Income | $0-$50 million | .325% | ||||||
> | $50 million | .225% | ||||||
> | $150 million | .200% | ||||||
> | $500 million | .150% | ||||||
Growth | $0-$50 million | .325% | ||||||
> | $50 million | .225% | ||||||
> | $150 million | .200% | ||||||
> | $500 million | .150% |
Portfolio | Average Daily Net Assets | Subadvisory Fee | ||||||
Capital Appreciation | $0-$50 million | .375% | ||||||
> | $50 million | .275% | ||||||
> | $150 million | .250% | ||||||
Natural Resources | $0-$50 million | .350% | ||||||
> | $50 million | .250% | ||||||
> | $150 million | .200% | ||||||
> | $500 million | .150% | ||||||
Multi-Asset | $0-$50 million | .250% | ||||||
> | $50 million | .175% | ||||||
> | $150 million | .150% | ||||||
Strategic Multi-Asset | $0-$50 million | .300% | ||||||
> | $50 million | .200% | ||||||
> | $150 million | .175% | ||||||
> | $500 million | .150% |
For the six months ended June 30, 2013, SAAMCo accrued fees of $10,629,341 from the Trust, of which SAAMCo informed the Trust that $7,321,170 was retained and $3,308,171 was paid to Wellington Management and EDGE, collectively.
Class 2 and Class 3 shares of each Portfolio are subject to a Rule 12b-1 plan that provides for service fees payable at the annual rate of 0.15% and 0.25%, respectively of the average daily net assets of such Class 2 and Class 3 shares. The service fees will be used to compensate the Life Companies for expenditures made to financial intermediaries for providing services to contract holders who are the indirect beneficial owners of the Portfolios’ Class 2 and Class 3 shares.
The Trust has entered into a Transfer Agency and Services Agreement with VALIC Retirement Services Company (VRSCO), a wholly-owned subsidiary of the Variable Annuity Life Insurance Company (“VALIC”), which is an affiliate of the Adviser. Under the agreement, VRSCO provides services, which include the issuance and redemption of shares, payment of dividends between the Trust and their “institutional” shareholders and certain shareholder reporting services including confirmation of transactions, statements of account and tax reporting. The Trust, SunAmerica Series Trust and Seasons Series Trust pay VRSCO on an annual basis, a fee in the aggregate amount of $150,000 for Transfer Agency Services provided pursuant to the agreement. Accordingly, for the period ended June 30, 2013, transfer agent fees were paid (see Statement of Operations) based on the aforementioned agreement.
Effective October 8, 2012 through April 30, 2014, SAAMCo has contractually agreed to waive its fees and/or reimburse expenses to the extent the Total Annual Portfolio Operating Expenses of the Multi-Asset Portfolio exceed 1.10% for Class 1 shares and 1.35% for Class 3 shares, respectively. For the purposes of waived fee and/or reimbursed expense calculations, Annual Fund Operating Expenses shall not include extraordinary expenses, as determined under GAAP, or acquired fund fees and expenses. Any waivers or reimbursements made by SAAMCo with respect to the Multi-Asset Portfolio are subject to recoupment from the Multi-Asset Portfolio within two years after the occurrence of the waivers and/or reimbursements, provided that the Multi-Asset Portfolio is able to effect such payment to SAAMCo and remain in compliance with the contractual expense limitations in effect at the time the waivers and/or reimbursements were made. The fee waivers and/or expense limitations may be modified or discontinued prior to April 30, 2014, only with the approval of the Board. For the six months ended June 30, 2013, pursuant to the contractual expense limitations mentioned above, SAAMCo waived fees and/or reimbursed expenses as follows:
Portfolio | Amount | |||
Multi Asset — Class 1 | $ | 52,802 | ||
Multi Asset — Class 3 | 249 |
For the six months ended June 30, 2013, the amounts recouped by SAAMCo were as follows:
Portfolio | Amount | |||
Multi Asset — Class 1 | $ | — | ||
Multi Asset — Class 3 | — |
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For the period ended June 30, 2013, expenses previously waived and/or reimbursed by SAAMCo that are subject to recoupment and expire during the time period indicated are as follows:
�� | Balance Subject to Recoupment | |||||||||||
Portfolio | December 31, 2013 | December 31, 2014 | June 30, 2015 | |||||||||
Multi Asset — Class 1 | $ | — | $ | 40,364 | $ | 52,802 | ||||||
Multi Asset — Class 3 | — | 173 | 249 |
Note 4. Expense Reductions
Through expense offset arrangements resulting from broker commission recapture, a portion of the expenses of the Portfolios set forth below have been reduced. For the six months ended June 30, 2013, the amount of expense reductions received by each Portfolio used to offset the Portfolio’s non-affiliated expenses were as follows:
Portfolio | Total Expense Reductions | |||
Asset Allocation | $ | 273 | ||
Growth and Income | 265 | |||
Growth | 4,476 | |||
Capital Appreciation | 17,447 | |||
Natural Resources | 609 | |||
Multi-Asset | 83 | |||
Strategic Multi-Asset | 246 |
Note 5. Purchases and Sales of Securities
The cost of purchases and proceeds from sales and maturities of long-term investments during the six months ended June 30, 2013 were as follows:
Government and Quality Bond Portfolio | Asset Allocation Portfolio | Growth and Income Portfolio | Growth Portfolio | Capital Appreciation Portfolio | Natural Resources Portfolio | Multi-Asset Portfolio | Strategic Multi-Asset Portfolio | |||||||||||||||||||||||||
Purchases (excluding U.S. government securities) | $ | 17,905,545 | $ | 22,600,126 | $ | 71,383,282 | $ | 257,171,199 | $ | 681,158,923 | $ | 69,990,342 | $ | 6,616,445 | $ | 12,061,148 | ||||||||||||||||
Sales (excluding U.S. government securities) | 12,499,181 | 30,564,719 | 49,059,351 | 243,999,818 | 753,409,594 | 80,424,287 | 8,627,556 | 13,093,171 | ||||||||||||||||||||||||
Purchases of U.S. government securities | 1,039,276,093 | 4,047,088 | — | — | — | — | 2,518,131 | 228,232 | ||||||||||||||||||||||||
Sales of U.S. government securities | 987,073,643 | 4,414,598 | — | — | — | — | 2,439,151 | 220,257 |
Note 6. Federal Income Taxes
The following details the tax basis of distributions as well as the components of distributable earnings. The tax basis components of distributable earnings differ from the amounts reflected in the Statement of Assets and Liabilities by temporary book/tax differences primarily arising from wash sales, post October losses, investments in passive foreign investment companies, investments in real estate investment trusts, investments in regulated investment companies and investments in partnerships, treatment of defaulted securities and derivative transactions.
For the year ended December 31, 2012 | ||||||||||||||||||||
Distributable Earnings | Tax Distributions | |||||||||||||||||||
Portfolio | Ordinary Income | Long-Term Gains/Capital | Unrealized Appreciation (Depreciation)* | Ordinary Income | Long-Term Capital Gains | |||||||||||||||
Government and Quality Bond | $ | 38,030,362 | $ | 1,258,832 | $ | 51,936,179 | $ | 33,614,462 | $ | 6,005,083 | ||||||||||
Asset Allocation | 6,211,720 | (6,695,067 | ) | 24,244,818 | 6,636,167 | — | ||||||||||||||
Growth and Income | 203,619 | (1,079,537 | ) | 1,278,721 | — | — | ||||||||||||||
Growth | 3,436,367 | (73,385,493 | ) | 22,225,039 | 1,755,885 | — | ||||||||||||||
Capital Appreciation | 17,834,016 | 116,027,952 | 159,285,683 | — | 46,194,674 | |||||||||||||||
Natural Resources | 2,360,747 | (12,239,727 | ) | (5,457,069 | ) | 3,363,881 | 20,886,953 | |||||||||||||
Multi-Asset | 235,792 | (1,932,855 | ) | 1,441,347 | 198,946 | — | ||||||||||||||
Strategic Multi-Asset | 504,593 | 143,945 | 1,790,066 | 527,384 | — |
* | Unrealized appreciation (depreciation) includes amounts for derivatives and other assets and liabilities denominated in foreign currency. |
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As of December 31, 2012, for Federal income tax purposes, the Portfolios indicated below have capital loss carryforwards, which expire in the year indicated, which are available to offset future capital gains, if any:
Capital Loss Carryforward† | Unlimited | |||||||||||
Fund | 2017 | ST | LT | |||||||||
Government and Quality Bond | $ | — | $ | — | $ | — | ||||||
Asset Allocation | 6,695,067 | — | — | |||||||||
Growth and Income | 1,079,537 | — | — | |||||||||
Growth | 73,385,493 | — | — | |||||||||
Capital Appreciation | — | — | — | |||||||||
Natural Resources | — | 3,102,800 | 9,136,927 | |||||||||
Multi-Asset | 1,932,855 | — | — | |||||||||
Strategic Multi-Asset | — | — | — |
† | On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (the "Act") was enacted which changed various technical rules governing the tax treatment of regulated investment companies. The changes are generally effective for taxable years beginning after the date of enactment. Under the Act, the fund will be permitted to carry forward capital losses incurred in taxable years beginning after the date of enactment for an unlimited period. However, any losses incurred during those future taxable years will be required to be utilized prior to the losses incurred in pre-enactment taxable years, which carry an expiration date. As a result of this ordering rule, pre-enactment capital loss carryforwards may be more likely to expire unused. Additionally, post-enactment capital losses that are carried forward will retain their character as either short-term or long-term losses rather than being considered all short-term as under previous law. |
As of June 30, 2013, the amounts of the aggregate unrealized gain (loss) and the cost of investment securities for federal income tax purposes, including short-term securities and repurchase agreements, were as follows:
Portfolio | Aggregate Unrealized Gain | Aggregate Unrealized Loss | Net Unrealized Gain/(Loss) | Cost of Investments | ||||||||||||
Government and Quality Bond | $ | 29,733,543 | $ | (13,281,401 | ) | $ | 16,452,142 | $ | 1,420,005,011 | |||||||
Asset Allocation | 34,843,955 | (4,309,832 | ) | 30,534,123 | 190,957,181 | |||||||||||
Growth and Income | 3,234,417 | (1,202,974 | ) | 2,031,443 | 64,670,378 | |||||||||||
Growth | 49,417,269 | (5,186,678 | ) | 44,230,591 | 403,880,420 | |||||||||||
Capital Appreciation | 182,371,789 | (14,313,746 | ) | 168,058,043 | 970,458,183 | |||||||||||
Natural Resources | 12,125,905 | (28,029,672 | ) | (15,903,767 | ) | 221,570,079 | ||||||||||
Multi-Asset | 1,868,266 | (219,249 | ) | 1,649,017 | 21,942,760 | |||||||||||
Strategic Multi-Asset | 1,832,370 | (633,713 | ) | 1,198,657 | 20,223,514 |
Note 7. Capital Share Transactions
Transactions in capital shares of each class of each Portfolio were as follows:
Government and Quality Bond Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | Class 2 | |||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold. | 5,852,657 | $ | 90,879,957 | 7,717,590 | $ | 121,356,029 | 148,666 | $ | 2,301,351 | 380,471 | $ | 5,962,905 | ||||||||||||||||||||
Reinvested dividends | — | — | 698,258 | 10,831,355 | — | — | 140,648 | 2,182,227 | ||||||||||||||||||||||||
Shares redeemed. | (2,049,365 | ) | (31,851,835 | ) | (4,120,892 | ) | (64,717,841 | ) | (463,169 | ) | (7,193,146 | ) | (1,069,431 | ) | (16,815,694 | ) | ||||||||||||||||
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Net increase (decrease) | 3,803,292 | $ | 59,028,122 | 4,294,956 | $ | 67,469,543 | (314,503 | ) | $ | (4,891,795 | ) | (548,312 | ) | $ | (8,670,562 | ) | ||||||||||||||||
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Class 3 | ||||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
Shares sold. | 5,099,815 | $ | 78,738,958 | 13,607,949 | $ | 212,743,545 | ||||||||||||||||||||||||||
Reinvested dividends | — | — | 1,719,550 | 26,605,963 | ||||||||||||||||||||||||||||
Shares redeemed. | (4,952,689 | ) | (76,669,483 | ) | (11,304,320 | ) | (177,183,473 | ) | ||||||||||||||||||||||||
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Net increase (decrease) | 147,126 | $ | 2,069,475 | 4,023,179 | $ | 62,166,035 | ||||||||||||||||||||||||||
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Asset Allocation Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | Class 2 | |||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold. | 159,057 | $ | 2,375,920 | 358,821 | $ | 4,947,031 | 78,873 | $ | 1,179,997 | 115,576 | $ | 1,605,061 | ||||||||||||||||||||
Reinvested dividends | 4,262 | 64,466 | 353,836 | 4,926,993 | — | — | 36,097 | 501,958 | ||||||||||||||||||||||||
Shares redeemed. | (940,756 | ) | (14,070,660 | ) | (2,295,411 | ) | (31,623,396 | ) | (118,098 | ) | (1,756,127 | ) | (344,724 | ) | (4,716,181 | ) | ||||||||||||||||
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Net increase (decrease) | (777,437 | ) | $ | (11,630,274 | ) | (1,582,754 | ) | $ | (21,749,372 | ) | (39,225 | ) | $ | (576,130 | ) | (193,051 | ) | $ | (2,609,162 | ) | ||||||||||||
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Class 3 | ||||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
Shares sold. | 357,681 | $ | 5,333,056 | 744,640 | $ | 10,176,435 | ||||||||||||||||||||||||||
Reinvested dividends | — | — | 87,070 | 1,207,216 | ||||||||||||||||||||||||||||
Shares redeemed. | (336,564 | ) | (5,012,069 | ) | (762,965 | ) | (10,486,455 | ) | ||||||||||||||||||||||||
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Net increase (decrease) | 21,117 | $ | 320,987 | 68,745 | $ | 897,196 | ||||||||||||||||||||||||||
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Growth and Income Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | ||||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
Shares sold. | 2,574,000 | $ | 24,147,165 | 3,703,488 | $ | 30,703,295 | ||||||||||||||||||||||||||
Reinvested dividends | — | — | — | — | ||||||||||||||||||||||||||||
Shares redeemed. | (235,262 | ) | (2,182,164 | ) | (108,430 | ) | (901,194 | ) | ||||||||||||||||||||||||
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Net increase (decrease) | 2,338,738 | $ | 21,965,001 | 3,595,058 | $ | 29,802,101 | ||||||||||||||||||||||||||
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Growth Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | Class 2 | |||||||||||||||||||||||||||||||
For the year ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the year ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold. | 1,963,011 | $ | 47,182,868 | 3,107,597 | $ | 65,017,745 | 17,902 | $ | 417,183 | 30,180 | $ | 637,861 | ||||||||||||||||||||
Reinvested dividends | — | — | 59,327 | 1,293,628 | — | — | 4,969 | 108,385 | ||||||||||||||||||||||||
Shares redeemed. | (827,275 | ) | (19,775,157 | ) | (1,882,241 | ) | (39,897,641 | ) | (149,429 | ) | (3,579,795 | ) | (312,402 | ) | (6,651,992 | ) | ||||||||||||||||
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Net increase (decrease) | 1,135,736 | $ | 27,407,711 | 1,284,683 | $ | 26,413,732 | (131,527 | ) | $ | (3,162,612 | ) | (277,253 | ) | $ | (5,905,746 | ) | ||||||||||||||||
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Class 3 | ||||||||||||||||||||||||||||||||
For the year ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
Shares sold. | 99,523 | $ | 2,351,432 | 451,533 | $ | 9,532,751 | ||||||||||||||||||||||||||
Reinvested dividends | — | — | 16,247 | 353,872 | ||||||||||||||||||||||||||||
Shares redeemed. | (705,128 | ) | (16,854,511 | ) | (1,398,055 | ) | (29,656,670 | ) | ||||||||||||||||||||||||
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Net increase (decrease) | (605,605 | ) | $ | (14,503,079 | ) | (930,275 | ) | $ | (19,770,047 | ) | ||||||||||||||||||||||
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Capital Appreciation Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | Class 2 | |||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold. | 620,875 | $ | 27,524,352 | 1,217,776 | $ | 48,077,120 | 26,265 | $ | 1,099,054 | 67,817 | $ | 2,678,238 | ||||||||||||||||||||
Reinvested dividends | 1,173 | 51,387 | 497,749 | 20,248,496 | 135 | 5,812 | 61,037 | 2,446,542 | ||||||||||||||||||||||||
Shares redeemed. | (1,186,637 | ) | (52,288,530 | ) | (2,610,498 | ) | (103,283,783 | ) | (151,725 | ) | (6,610,922 | ) | (383,468 | ) | (15,012,775 | ) | ||||||||||||||||
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Net increase (decrease) | (564,589 | ) | $ | (24,712,791 | ) | (894,973 | ) | $ | (34,958,167 | ) | (125,325 | ) | $ | (5,506,056 | ) | (254,614 | ) | $ | (9,887,995 | ) | ||||||||||||
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Class 3 | ||||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
Shares sold. | 464,122 | $ | 20,055,127 | 1,569,633 | $ | 60,425,073 | ||||||||||||||||||||||||||
Reinvested dividends | 1,349 | 57,570 | 591,942 | 23,499,636 | ||||||||||||||||||||||||||||
Shares redeemed. | (1,599,841 | ) | (69,013,976 | ) | (3,581,401 | ) | (139,574,938 | ) | ||||||||||||||||||||||||
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Net increase (decrease) | (1,134,370 | ) | $ | (48,901,279 | ) | (1,419,826 | ) | $ | (55,650,229 | ) | ||||||||||||||||||||||
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Natural Resources Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | Class 2 | |||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold. | 547,558 | $ | 12,243,185 | 782,666 | $ | 18,337,738 | 32,195 | $ | 708,724 | 49,612 | $ | 1,158,345 | ||||||||||||||||||||
Reinvested dividends | — | — | 385,045 | 8,586,348 | — | — | 70,900 | 1,576,042 | ||||||||||||||||||||||||
Shares redeemed. | (386,607 | ) | (8,702,600 | ) | (795,525 | ) | (19,085,949 | ) | (67,715 | ) | (1,533,105 | ) | (165,496 | ) | (3,959,908 | ) | ||||||||||||||||
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Net increase (decrease) | 160,951 | $ | 3,540,585 | 372,186 | $ | 7,838,137 | (35,520 | ) | $ | (824,381 | ) | (44,984 | ) | $ | (1,225,521 | ) | ||||||||||||||||
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Class 3 | ||||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
Shares sold. | 535,609 | $ | 11,494,100 | 1,007,172 | $ | 23,997,001 | ||||||||||||||||||||||||||
Reinvested dividends | — | — | 636,828 | 14,088,444 | ||||||||||||||||||||||||||||
Shares redeemed. | (717,114 | ) | (15,994,674 | ) | (1,590,580 | ) | (37,192,125 | ) | ||||||||||||||||||||||||
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Net increase (decrease) | (181,505 | ) | $ | (4,500,574 | ) | 53,420 | $ | 893,320 | ||||||||||||||||||||||||
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Multi-Asset Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | Class 3 | |||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | For the six months ended June 30, 2013 (unaudited) | For the period October 8, 2012@ through 12/31/2012 | |||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Shares sold. | 25,554 | $ | 174,777 | 30,322 | $ | 194,035 | — | $ | — | 15,320 | $ | 100,000 | ||||||||||||||||||||
Reinvested dividends | — | — | 30,707 | 198,946 | — | — | — | — | ||||||||||||||||||||||||
Shares redeemed. | (285,764 | ) | (1,932,054 | ) | (571,284 | ) | (3,630,163 | ) | — | — | — | — | ||||||||||||||||||||
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Net increase (decrease) | (260,210 | ) | $ | (1,757,277 | ) | (510,255 | ) | $ | (3,237,182 | ) | — | $ | — | 15,320 | $ | 100,000 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
| |||||||||||||||||
Strategic Multi-Asset Portfolio | ||||||||||||||||||||||||||||||||
Class 1 | ||||||||||||||||||||||||||||||||
For the six months ended June 30, 2013 (unaudited) | For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||
Shares sold. | 13,894 | $ | 119,448 | 30,191 | $ | 236,470 | ||||||||||||||||||||||||||
Reinvested dividends | — | — | 66,339 | 527,384 | ||||||||||||||||||||||||||||
Shares redeemed. | (150,223 | ) | (1,279,198 | ) | (384,348 | ) | (3,029,997 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net increase (decrease) | (136,329 | ) | $ | (1,159,750 | ) | (287,818 | ) | $ | (2,266,143 | ) | ||||||||||||||||||||||
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|
|
|
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@ | Commencement of operations |
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Note 8. Trustees’ Retirement Plan
The Trustees of Anchor Series Trust have adopted the SunAmerica Disinterested Trustees’ and Directors’ Retirement Plan (the “Retirement Plan”) effective January 1, 1993, as amended, for the Disinterested Trustees. The Retirement Plan provides generally that a Disinterested Trustee may become a participant (“Participant”) in the Retirement Plan if he or she has at least 10 years of consecutive service as a Disinterested Trustee of any of the adopting SunAmerica mutual funds (the “Adopting Funds”) or has attained the age of 60 while a Trustee and completed five (5) consecutive years of service as a Trustee of any Adopting Fund (an “Eligible Trustee”). Pursuant to the Retirement Plan, an Eligible Trustee may receive benefits upon (i) his or her death or disability while a Trustee or (ii) the termination of his or her tenure as a Trustee, other than removal for cause from each of the Adopting Funds with respect to which he or she is an Eligible Trustee.
As of each of the first 10 birthdays after becoming a Participant and on which he or she is both a Trustee and Participant, each Eligible Trustee will be credited with an amount equal to 50% of his or her regular fees (excluding committee fees) for services as a Disinterested Trustee of each Adopting Fund for the calendar year in which such birthday occurs. In addition, an amount equal to 8.50% of any amounts credited under the preceding statement during prior years is added to each Eligible Trustee’s account. The rights of any Participant to benefits under the Retirement Plan shall be an unsecured claim against the assets of the Adopting Funds. An Eligible Trustee may receive any benefits payable under the Retirement Plan, at his or her election, either in one lump sum or in up to 15 annual installments. Any undistributed amounts shall continue to accrue interest at 8.50%.
Effective December 3, 2008, the Retirement Plan was amended to, among other things, (1) freeze the Retirement Plan as to future accruals for active Participants as of December 31, 2008, (2) prohibit Disinterested Trustees from first becoming participants in the Retirement Plan after December 31, 2008 and (3) permit active Participants to elect to receive a distribution of their entire Retirement Plan account balance in 2009. The freeze on future accruals does not apply to Participants that have commenced receiving benefits under the Retirement Plan on or before December 31, 2008.
The following amounts for the Retirement Plan Liabilities are included in the Trustees’ fees and expenses payable line on the Statement of Assets and Liabilities and the amounts for the Retirement Plan Expenses are included in the Trustees’ fees and expenses line on the Statement of Operations.
As of June 30, 2013 | ||||||||||||
Portfolio | Retirement Plan Liability | Retirement Plan Expense | Retirement Plan Payments | |||||||||
Government and Quality Bond | $ | 8,865 | $ | 360 | $ | 2,400 | ||||||
Asset Allocation | 1,954 | 67 | 532 | |||||||||
Growth and Income | 348 | 11 | 95 | |||||||||
Growth | 6,754 | 118 | 1,873 | |||||||||
Capital Appreciation | 13,070 | 329 | 3,594 | |||||||||
Natural Resources | 1,840 | 69 | 500 | |||||||||
Multi-Asset | 1,279 | 7 | 358 | |||||||||
Strategic Multi-Asset | 881 | 7 | 247 |
Note 9. Line of Credit
The SunAmerica family of mutual funds has established a $75 million committed and a $50 million uncommitted line of credit with State Street Bank and Trust Company, the Portfolios’ custodian. Interest is currently payable at the higher of the Federal Funds Rate plus 125 basis points or the overnight London Interbank Offered Rate plus 125 basis points on the committed line and State Street Bank and Trust Company’s discretionary bid rate on the uncommitted line of credit. There is also a commitment fee of 10 basis points per annum on the daily unused portion of the committed line of credit which is included in other expenses on the Statement of Operations. Borrowings under the line of credit will commence when the respective Portfolio’s cash shortfall exceeds $100,000. For the six months ended June 30, 2013, the following Portfolios had borrowings:
Portfolio | Days Outstanding | Interest Charges | Average Debt Utilized | Weighted Average Interest | ||||||||||||
Government and Quality Bond | 1 | $ | 43 | $ | 1,094,525 | 1.41 | % |
At June 30, 2013, there were no borrowings outstanding.
Note 10. Interfund Lending Agreement
Pursuant to the exemptive relief granted by the Securities and Exchange Commission, the Portfolios are permitted to participate in an interfund lending program among investment companies advised by SAAMCo or an affiliate. The interfund lending program allows the participating Portfolios to borrow money from and lend money to each other for temporary or emergency purposes. An interfund loan will be made under this facility only if the participating Portfolios receive a more favorable interest rate than would otherwise be available from a typical bank for a comparable transaction. For the six months ended June 30, 2013, none of the Portfolios participated in this program.
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Note 11. Investment Concentration
All Portfolios may invest internationally, including in “emerging market” countries. Emerging market securities involve risks not typically associated with investing in securities of issuers in more developed markets. These investments are subject to various risk factors including market, credit, exchange rate and sovereign risk. The markets in which these securities trade can be volatile and at times illiquid. These securities may be denominated in currencies other than U.S. dollars. While investing internationally may reduce portfolio risk by increasing the diversification of portfolio investments, the value of the investment may be affected by fluctuating currency values, changing local and regional economic, political and social conditions, and greater market volatility. These risks are primary risks of the Strategic Muli-Asset Portfolio. At June 30, 2013, the Strategic Muli-Asset Portfolio had 9.7% of its net assets invested in securities domiciled in Japan.
The Government and Quality Bond Portfolio, Asset Allocation Portfolio, and Multi-Asset Portfolio may invest in obligations issued by agencies and instrumentalities of the U.S. Government that may vary in the level of support they receive from the government. The government may choose not to provide financial support to government sponsored agencies or instrumentalities if it is not legally obligated to do so. In this case, if the issuer defaulted, the fund holding securities of such issuer might not be able to recover its investment from the U.S. Government. As a result of each Portfolio’s concentration in such investments, it may be subject to risks associated with the U.S. Government agencies or instrumentalities. At June 30, 2013, the Portfolios had 36.1%, 11.2%, and 14.5%, respectively, of their net assets invested in such securities.
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Table of Contents
ANCHOR SERIES TRUST
Period ended | Net Asset Value beginning of period | Net investment income (loss)(1) | Net realized & unrealized gain (loss) on investments | Total from investment operations | Dividends declared from net investment income | Distributions from net return of capital | Distributions from net realized gain on investments | Total dividends and distributions | Net Asset Value end of period | Total Return(2) | Net Assets end of period (000’s) | Ratio of expenses to average net assets | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||||||
Government and Quality Bond Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | $ | 15.05 | $ | 0.65 | $ | (0.01 | ) | $ | 0.64 | $ | (0.63 | ) | $ | — | $ | — | $ | (0.63 | ) | $ | 15.06 | 4.29 | % | $ | 412,438 | 0.59 | % | 4.32 | % | 87 | % | |||||||||||||||||||||||||
12/31/09 | 15.06 | 0.58 | 0.06 | 0.64 | (0.75 | ) | — | — | (0.75 | ) | 14.95 | 4.29 | 342,036 | 0.61 | 3.82 | 71 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 14.95 | 0.42 | 0.33 | 0.75 | (0.63 | ) | — | — | (0.63 | ) | 15.07 | 4.98 | 297,126 | 0.59 | 2.75 | 66 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 15.07 | 0.35 | 0.71 | 1.06 | (0.49 | ) | — | (0.07 | ) | (0.56 | ) | 15.57 | 7.09 | 260,025 | 0.62 | 2.24 | 44 | |||||||||||||||||||||||||||||||||||||||
12/31/12 | 15.57 | 0.29 | 0.31 | 0.60 | (0.37 | ) | — | (0.22 | ) | (0.59 | ) | 15.58 | 3.83 | 326,992 | 0.59 | 1.88 | 81 | |||||||||||||||||||||||||||||||||||||||
06/30/13(3) | 15.58 | 0.10 | (0.43 | ) | (0.33 | ) | — | — | — | — | 15.25 | (2.12 | ) | 378,193 | 0.60 | (4) | 1.34 | (4) | 85 | |||||||||||||||||||||||||||||||||||||
Government and Quality Bond Portfolio Class 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 15.04 | 0.63 | (0.01 | ) | 0.62 | (0.61 | ) | — | — | (0.61 | ) | 15.05 | 4.14 | 116,609 | 0.74 | 4.17 | 87 | |||||||||||||||||||||||||||||||||||||||
12/31/09 | 15.05 | 0.56 | 0.06 | 0.62 | (0.73 | ) | — | — | (0.73 | ) | 14.94 | 4.14 | 96,914 | 0.76 | 3.67 | 71 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 14.94 | 0.40 | 0.33 | 0.73 | (0.61 | ) | — | — | (0.61 | ) | 15.06 | 4.83 | 80,584 | 0.74 | 2.60 | 66 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 15.06 | 0.32 | 0.71 | 1.03 | (0.46 | ) | — | (0.07 | ) | (0.53 | ) | 15.56 | 6.89 | 68,974 | 0.77 | 2.09 | 44 | |||||||||||||||||||||||||||||||||||||||
12/31/12 | 15.56 | 0.27 | 0.30 | 0.57 | (0.34 | ) | — | (0.22 | ) | (0.56 | ) | 15.57 | 3.65 | 60,472 | 0.74 | 1.72 | 81 | |||||||||||||||||||||||||||||||||||||||
06/30/13(3) | 15.57 | 0.09 | (0.42 | ) | (0.33 | ) | — | — | — | — | 15.24 | (2.12 | ) | 54,378 | 0.75 | (4) | 1.19 | (4) | 85 | |||||||||||||||||||||||||||||||||||||
Government and Quality Bond Portfolio Class 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 15.01 | 0.61 | (0.00 | ) | 0.61 | (0.59 | ) | — | — | (0.59 | ) | 15.03 | 4.12 | 674,160 | 0.84 | 4.07 | 87 | |||||||||||||||||||||||||||||||||||||||
12/31/09 | 15.03 | 0.53 | 0.07 | 0.60 | (0.72 | ) | — | — | (0.72 | ) | 14.91 | 3.98 | 719,070 | 0.86 | 3.55 | 71 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 14.91 | 0.38 | 0.33 | 0.71 | (0.59 | ) | — | — | (0.59 | ) | 15.03 | 4.74 | 737,455 | 0.84 | 2.50 | 66 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 15.03 | 0.31 | 0.71 | 1.02 | (0.46 | ) | — | (0.07 | ) | (0.53 | ) | 15.52 | 6.78 | 735,004 | 0.87 | 1.99 | 44 | |||||||||||||||||||||||||||||||||||||||
12/31/12 | 15.52 | 0.25 | 0.30 | 0.55 | (0.33 | ) | — | (0.22 | ) | (0.55 | ) | 15.52 | 3.53 | 797,475 | 0.84 | 1.63 | 81 | |||||||||||||||||||||||||||||||||||||||
06/30/13(3) | 15.52 | 0.08 | (0.42 | ) | (0.34 | ) | — | — | — | — | 15.18 | (2.19 | ) | 782,149 | 0.85 | (4) | 1.09 | (4) | 85 |
(1) | Calculated based upon average shares outstanding. |
(2) | Total return is not annualized and does not reflect expenses that apply to the separate accounts of the Life Companies. If such expenses had been included, the total return would have been lower for each period presented. |
(3) | Unaudited |
(4) | Annualized |
See Notes to Financial Statements
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Table of Contents
ANCHOR SERIES TRUST
FINANCIAL HIGHLIGHTS — (continued)
Period ended | Net Asset Value beginning of period | Net investment income (loss)(1) | Net realized & unrealized gain (loss) on investments | Total from investment operations | Dividends declared from net investment income | Distributions from net return of capital | Distributions from net realized gain on investments | Total dividends and distributions | Net Asset Value end of period | Total Return(2) | Net Assets end of period (000’s) | Ratio of expenses to average net assets(3) | Ratio of net investment income (loss) to average net assets(3) | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||||||
Asset Allocation Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | $ | 16.39 | $ | 0.38 | $ | (3.67 | ) | $ | (3.29 | ) | $ | (0.47 | ) | $ | — | $ | (2.45 | ) | $ | (2.92 | ) | $ | 10.18 | (23.03 | )% | $ | 192,457 | 0.71 | % | 2.70 | % | 48 | % | |||||||||||||||||||||||
12/31/09 | 10.18 | 0.30 | 1.94 | 2.24 | (0.42 | ) | — | — | (0.42 | ) | 12.00 | 22.24 | 195,872 | 0.78 | 2.73 | 46 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 12.00 | 0.33 | 1.30 | 1.63 | (0.34 | ) | — | — | (0.34 | ) | 13.29 | 13.89 | 195,082 | 0.76 | 2.64 | 65 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 13.29 | 0.38 | (0.27 | ) | 0.11 | (0.37 | ) | — | — | (0.37 | ) | 13.03 | 0.93 | 167,345 | 0.80 | 2.82 | 44 | |||||||||||||||||||||||||||||||||||||||
12/31/12 | 13.03 | 0.37 | 1.18 | 1.55 | (0.43 | ) | — | — | (0.43 | ) | 14.15 | 11.95 | 159,351 | 0.80 | 2.65 | 30 | ||||||||||||||||||||||||||||||||||||||||
06/30/13(4) | 14.15 | 0.18 | 0.75 | 0.93 | (0.01 | ) | — | — | (0.01 | ) | 15.07 | 6.54 | 158,011 | 0.80 | (5) | 2.46 | (5) | 12 | ||||||||||||||||||||||||||||||||||||||
Asset Allocation Portfolio Class 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 16.36 | 0.36 | (3.67 | ) | (3.31 | ) | (0.44 | ) | — | (2.45 | ) | (2.89 | ) | 10.16 | (23.15 | ) | 21,622 | 0.86 | 2.56 | 48 | ||||||||||||||||||||||||||||||||||||
12/31/09 | 10.16 | 0.28 | 1.94 | 2.22 | (0.40 | ) | — | — | (0.40 | ) | 11.98 | 22.07 | 22,831 | 0.93 | 2.58 | 46 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 11.98 | 0.31 | 1.30 | 1.61 | (0.33 | ) | — | — | (0.33 | ) | 13.26 | 13.69 | 20,513 | 0.91 | 2.49 | 65 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 13.26 | 0.36 | (0.27 | ) | 0.09 | (0.35 | ) | — | — | (0.35 | ) | 13.00 | 0.76 | 18,303 | 0.95 | 2.67 | 44 | |||||||||||||||||||||||||||||||||||||||
12/31/12 | 13.00 | 0.35 | 1.18 | 1.53 | (0.41 | ) | — | — | (0.41 | ) | 14.12 | 11.78 | 17,151 | 0.95 | 2.50 | 30 | ||||||||||||||||||||||||||||||||||||||||
06/30/13(4) | 14.12 | 0.17 | 0.75 | 0.92 | — | — | — | — | 15.04 | 6.52 | 17,671 | 0.95 | (5) | 2.32 | (5) | 12 | ||||||||||||||||||||||||||||||||||||||||
Asset Allocation Portfolio Class 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 16.33 | 0.34 | (3.65 | ) | (3.31 | ) | (0.43 | ) | — | (2.45 | ) | (2.88 | ) | 10.14 | (23.22 | ) | 26,781 | 0.96 | 2.47 | 48 | ||||||||||||||||||||||||||||||||||||
12/31/09 | 10.14 | 0.27 | 1.94 | 2.21 | (0.39 | ) | — | — | (0.39 | ) | 11.96 | 21.97 | 30,385 | 1.03 | 2.47 | 46 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 11.96 | 0.30 | 1.30 | 1.60 | (0.32 | ) | — | — | (0.32 | ) | 13.24 | 13.61 | 34,612 | 1.01 | 2.40 | 65 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 13.24 | 0.34 | (0.27 | ) | 0.07 | (0.34 | ) | — | — | (0.34 | ) | 12.97 | 0.64 | 39,025 | 1.06 | 2.58 | 44 | |||||||||||||||||||||||||||||||||||||||
12/31/12 | 12.97 | 0.33 | 1.18 | 1.51 | (0.40 | ) | — | — | (0.40 | ) | 14.08 | 11.68 | 43,328 | 1.05 | 2.41 | 30 | ||||||||||||||||||||||||||||||||||||||||
06/30/13(4) | 14.08 | 0.16 | 0.74 | 0.90 | — | — | — | — | 14.98 | 6.39 | 46,426 | 1.05 | (5) | 2.22 | (5) | 12 | ||||||||||||||||||||||||||||||||||||||||
Growth and Income Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 10.71 | 0.03 | (3.78 | ) | (3.75 | ) | (0.04 | ) | — | (1.58 | ) | (1.62 | ) | 5.34 | (39.32 | ) | 8,087 | 1.40 | 0.33 | 122 | ||||||||||||||||||||||||||||||||||||
12/31/09 | 5.34 | 0.01 | 1.84 | 1.85 | (0.03 | ) | — | — | (0.03 | ) | 7.16 | 34.63 | 9,645 | 1.66 | 0.08 | 94 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 7.16 | 0.00 | 0.85 | 0.85 | (0.00 | ) | — | — | (0.00 | ) | 8.01 | 11.93 | 9,669 | 1.56 | 0.03 | 67 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 8.01 | (0.01 | ) | (0.45 | ) | (0.46 | ) | (0.00 | ) | — | — | (0.00 | ) | 7.55 | (5.71 | ) | 7,449 | 1.82 | (0.18 | ) | 69 | |||||||||||||||||||||||||||||||||||
12/31/12 | 7.55 | 0.08 | 0.94 | 1.02 | — | — | — | — | 8.57 | 13.51 | 39,271 | 1.28 | 0.97 | 73 | ||||||||||||||||||||||||||||||||||||||||||
06/30/13(4) | 8.57 | 0.05 | 0.96 | 1.01 | — | — | — | — | 9.58 | 11.79 | 66,293 | 0.94 | (5) | 1.01 | (5) | 97 |
(1) | Calculated based upon average shares outstanding. |
(2) | Total return is not annualized and does not reflect expenses that apply to the separate accounts of the Life Companies. If such expenses had been included, the total return would have been lower for each period presented. |
(3) | Excludes expense reductions. If these expense reductions had been applied, the ratio of expenses to average net assets would have been lower and the ratio of net investment income (loss) to average net assets would have been higher by the following (See Note 4): |
12/31/08 | 12/31/09 | 12/31/10 | 12/31/11 | 12/31/12 | 06/30/13(4)(5) | |||||||||||||||||||
Asset Allocation Portfolio Class 1 | 0.02 | % | 0.02 | % | 0.01 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||
Asset Allocation Portfolio Class 2 | 0.02 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Asset Allocation Portfolio Class 3 | 0.02 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Growth and Income Portfolio Class 1 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
(4) | Unaudited |
(5) | Annualized |
See Notes to Financial Statements
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Table of Contents
ANCHOR SERIES TRUST
FINANCIAL HIGHLIGHTS — (continued)
Period ended | Net Asset Value beginning of period | Net investment income (loss)(1) | Net realized & unrealized gain (loss) on investments | Total from investment operations | Dividends declared from net investment income | Distributions from net return of capital | Distributions from net realized gain on investments | Total dividends and distributions | Net Asset Value end of period | Total Return(2) | Net Assets end of period (000’s) | Ratio of expenses to average net assets(3) | Ratio of net investment income (loss) to average net assets(3) | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||||||
Growth Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | $ | 28.06 | $ | 0.17 | $ | (10.04 | ) | $ | (9.87 | ) | $ | (0.18 | ) | $ | — | $ | (4.63 | ) | $ | (4.81 | ) | $ | 13.38 | (40.41 | )% | $ | 225,013 | 0.74 | % | 0.73 | % | 134 | % | |||||||||||||||||||||||
12/31/09 | 13.38 | 0.12 | 5.00 | 5.12 | (0.17 | ) | — | — | (0.17 | ) | 18.33 | 38.39 | 258,081 | 0.80 | 0.75 | 100 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 18.33 | 0.13 | 2.43 | 2.56 | (0.13 | ) | — | — | (0.13 | ) | 20.76 | 14.10 | 244,740 | 0.78 | 0.66 | 82 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 20.76 | 0.11 | (1.41 | ) | (1.30 | ) | (0.15 | ) | — | — | (0.15 | ) | 19.31 | (6.21 | ) | 190,613 | 0.83 | 0.55 | 84 | |||||||||||||||||||||||||||||||||||||
12/31/12 | 19.31 | 0.22 | 2.47 | 2.69 | (0.12 | ) | — | — | (0.12 | ) | 21.88 | 13.95 | 244,122 | 0.79 | 1.05 | 92 | ||||||||||||||||||||||||||||||||||||||||
06/30/13(5) | 21.88 | 0.09 | 2.72 | 2.81 | — | — | — | — | 24.69 | 12.84 | 303,587 | 0.78 | (6) | 0.79 | (6) | 59 | ||||||||||||||||||||||||||||||||||||||||
Growth Portfolio Class 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 28.02 | 0.13 | (10.03 | ) | (9.90 | ) | (0.13 | ) | — | (4.63 | ) | (4.76 | ) | 13.36 | (40.52 | ) | 34,818 | 0.89 | 0.58 | 134 | ||||||||||||||||||||||||||||||||||||
12/31/09 | 13.36 | 0.09 | 5.01 | 5.10 | (0.14 | ) | — | — | (0.14 | ) | 18.32 | 38.25 | 38,882 | 0.95 | 0.60 | 100 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 18.32 | 0.10 | 2.44 | 2.54 | (0.11 | ) | — | — | (0.11 | ) | 20.75 | 13.96 | 37,148 | 0.93 | 0.51 | 82 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 20.75 | 0.08 | (1.41 | ) | (1.33 | ) | (0.12 | ) | — | — | (0.12 | ) | 19.30 | (6.40 | ) | 27,851 | 0.98 | 0.39 | 84 | |||||||||||||||||||||||||||||||||||||
12/31/12 | 19.30 | 0.18 | 2.48 | 2.66 | (0.08 | ) | — | — | (0.08 | ) | 21.88 | 13.81 | 25,506 | 0.94 | 0.85 | 92 | ||||||||||||||||||||||||||||||||||||||||
06/30/13(5) | 21.88 | 0.08 | 2.71 | 2.79 | — | — | — | — | 24.67 | 12.75 | 25,522 | 0.93 | (6) | 0.64 | (6) | 59 | ||||||||||||||||||||||||||||||||||||||||
Growth Portfolio Class 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 27.97 | 0.11 | (10.01 | ) | (9.90 | ) | (0.10 | ) | — | (4.63 | ) | (4.73 | ) | 13.34 | (40.56 | ) | 137,334 | 0.99 | 0.49 | 134 | ||||||||||||||||||||||||||||||||||||
12/31/09 | 13.34 | 0.08 | 4.98 | 5.06 | (0.12 | ) | — | — | (0.12 | ) | 18.28 | 37.99 | 156,302 | 1.05 | 0.50 | 100 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 18.28 | 0.08 | 2.44 | 2.52 | (0.09 | ) | — | — | (0.09 | ) | 20.71 | 13.89 | 151,712 | 1.03 | 0.41 | 82 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 20.71 | 0.06 | (1.41 | ) | (1.35 | ) | (0.10 | ) | — | — | (0.10 | ) | 19.26 | (6.52 | ) | 122,324 | 1.08 | 0.30 | 84 | |||||||||||||||||||||||||||||||||||||
12/31/12 | 19.26 | 0.16 | 2.48 | 2.64 | (0.06 | ) | — | — | (0.06 | ) | 21.84 | 13.72 | 118,352 | 1.04 | 0.76 | 92 | ||||||||||||||||||||||||||||||||||||||||
06/30/13(5) | 21.84 | 0.06 | 2.72 | 2.78 | — | — | — | — | 24.62 | 12.73 | 118,511 | 1.03 | (6) | 0.54 | (6) | 59 | ||||||||||||||||||||||||||||||||||||||||
Capital Appreciation Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 46.18 | (0.02 | ) | (16.37 | ) | (16.39 | ) | — | — | (7.88 | ) | (7.88 | ) | 21.91 | (40.34 | ) | 486,786 | 0.75 | (0.06 | ) | 129 | |||||||||||||||||||||||||||||||||||
12/31/09 | 21.91 | 0.05 | 8.01 | 8.06 | — | — | — | — | 29.97 | 36.79 | 534,856 | 0.77 | 0.16 | 187 | ||||||||||||||||||||||||||||||||||||||||||
12/31/10 | 29.97 | (0.04 | ) | 6.84 | 6.80 | (0.04 | ) | — | — | (0.04 | ) | 36.73 | 22.72 | 556,674 | 0.75 | (0.14 | ) | 96 | ||||||||||||||||||||||||||||||||||||||
12/31/11 | 36.73 | (0.07 | ) | (2.52 | ) | (2.59 | ) | — | — | — | — | 34.14 | (7.05 | ) | 435,001 | 0.79 | (0.19 | ) | 91 | |||||||||||||||||||||||||||||||||||||
12/31/12 | 34.14 | (0.07 | ) | 8.23 | 8.16 | — | — | (1.72 | ) | (1.72 | ) | 40.58 | 23.90 | (4) | 480,705 | 0.74 | (0.17 | ) | 103 | |||||||||||||||||||||||||||||||||||||
06/30/13(5) | 40.58 | (0.04 | ) | 5.27 | 5.23 | — | — | | (0.00 | ) | (0.00 | ) | 45.81 | 12.90 | 516,880 | 0.76 | (6) | (0.18 | )(6) | 63 | ||||||||||||||||||||||||||||||||||||
Capital Appreciation Portfolio Class 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 45.89 | (0.07 | ) | (16.24 | ) | (16.31 | ) | — | — | (7.88 | ) | (7.88 | ) | 21.70 | (40.42 | ) | 68,936 | 0.89 | (0.21 | ) | 129 | |||||||||||||||||||||||||||||||||||
12/31/09 | 21.70 | 0.01 | 7.92 | 7.93 | — | — | — | — | 29.63 | 36.54 | 73,573 | 0.92 | 0.01 | 187 | ||||||||||||||||||||||||||||||||||||||||||
12/31/10 | 29.63 | (0.09 | ) | 6.77 | 6.68 | (0.01 | ) | — | — | (0.01 | ) | 36.30 | 22.53 | 72,088 | 0.90 | (0.29 | ) | 96 | ||||||||||||||||||||||||||||||||||||||
12/31/11 | 36.30 | (0.13 | ) | (2.48 | ) | (2.61 | ) | — | — | — | — | 33.69 | (7.19 | ) | 54,499 | 0.94 | (0.34 | ) | 91 | |||||||||||||||||||||||||||||||||||||
12/31/12 | 33.69 | (0.13 | ) | 8.12 | 7.99 | — | — | (1.72 | ) | (1.72 | ) | 39.96 | 23.71 | (4) | 54,464 | 0.89 | (0.33 | ) | 103 | |||||||||||||||||||||||||||||||||||||
06/30/13(5) | 39.96 | (0.07 | ) | 5.19 | 5.12 | — | — | | (0.00 | ) | (0.00 | ) | 45.08 | 12.82 | 55,797 | 0.91 | (6) | (0.33 | )(6) | 63 | ||||||||||||||||||||||||||||||||||||
Capital Appreciation Portfolio Class 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 45.72 | (0.10 | ) | (16.17 | ) | (16.27 | ) | — | — | (7.88 | ) | (7.88 | ) | 21.57 | (40.49 | ) | 402,167 | 1.00 | (0.31 | ) | 129 | |||||||||||||||||||||||||||||||||||
12/31/09 | 21.57 | (0.02 | ) | 7.88 | 7.86 | — | — | — | — | 29.43 | 36.44 | 491,905 | 1.02 | (0.09 | ) | 187 | ||||||||||||||||||||||||||||||||||||||||
12/31/10 | 29.43 | (0.12 | ) | 6.72 | 6.60 | — | — | — | — | 36.03 | 22.43 | 546,714 | 1.00 | (0.38 | ) | 96 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 36.03 | (0.16 | ) | (2.46 | ) | (2.62 | ) | — | — | — | — | 33.41 | (7.27 | ) | 499,914 | 1.04 | (0.45 | ) | 91 | |||||||||||||||||||||||||||||||||||||
12/31/12 | 33.41 | (0.16 | ) | 8.04 | 7.88 | — | — | (1.72 | ) | (1.72 | ) | 39.57 | 23.58 | (4) | 535,916 | 0.99 | (0.42 | ) | 103 | |||||||||||||||||||||||||||||||||||||
06/30/13(5) | 39.57 | (0.09 | ) | 5.14 | 5.05 | — | — | | (0.00 | ) | (0.00 | ) | 44.62 | 12.77 | 553,718 | 1.01 | (6) | (0.43 | )(6) | 63 |
(1) | Calculated based upon average shares outstanding. |
(2) | Total return is not annualized and does not reflect expenses that apply to the separate accounts of the Life Companies. If such expenses had been included, the total return would have been lower for each period presented. |
(3) | Excludes expense reductions. If these expense reductions had been applied, the ratio of expenses to average net assets would have been lower and the ratio of net investment income (loss) to average net assets would have been higher by the following (See Note 4): |
12/31/08 | 12/31/09 | 12/31/10 | 12/31/11 | 12/31/12 | 06/30/13(5)(6) | |||||||||||||||||||
Growth Portfolio Class 1 | 0.01 | % | 0.01 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||
Growth Portfolio Class 2 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Growth Portfolio Class 3 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Capital Appreciation Portfolio Class 1 | 0.01 | 0.03 | 0.01 | 0.01 | 0.00 | 0.00 | ||||||||||||||||||
Capital Appreciation Portfolio Class 2 | 0.01 | 0.03 | 0.01 | 0.01 | 0.00 | 0.00 | ||||||||||||||||||
Capital Appreciation Portfolio Class 3 | 0.01 | 0.02 | 0.01 | 0.01 | 0.00 | 0.00 |
(4) | Total return was increased by less than 0.01% from gains on the disposal of investments in violation of investment restrictions. |
(5) | Unaudited |
(6) | Annualized |
See Notes to Financial Statements
| ||
103 |
Table of Contents
ANCHOR SERIES TRUST
FINANCIAL HIGHLIGHTS — (continued)
Period ended | Net Asset Value beginning of period | Net investment income (loss)(1) | Net realized & unrealized gain (loss) on investments | Total from investment operations | Dividends declared from net investment income | Distributions from net return of capital | Distributions from net realized gain on investments | Total dividends and distributions | Net Asset Value end of period | Total Return(2) | Net Assets end of period (000’s) | Ratio of expenses to average net assets | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||||||
Natural Resources Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | $ | 69.52 | $ | 0.51 | $ | (31.15 | ) | $ | (30.64 | ) | $ | (0.55 | ) | $ | — | $ | (11.11 | ) | $ | (11.66 | ) | $ | 27.22 | (49.79 | )% | $ | 95,709 | 0.82 | %(3) | 0.88 | %(3) | 12 | % | |||||||||||||||||||||||
12/31/09 | 27.22 | 0.32 | 15.18 | 15.50 | (0.51 | ) | — | (2.25 | ) | (2.76 | ) | 39.96 | 58.05 | 130,566 | 0.82 | 0.96 | 15 | |||||||||||||||||||||||||||||||||||||||
12/31/10 | 39.96 | 0.27 | 5.53 | 5.80 | (0.36 | ) | — | (2.57 | ) | (2.93 | ) | 42.83 | 16.20 | (4) | 123,891 | 0.82 | (3) | 0.70 | (3) | 82 | ||||||||||||||||||||||||||||||||||||
12/31/11 | 42.83 | 0.32 | (8.38 | ) | (8.06 | ) | (0.28 | ) | — | (10.11 | ) | (10.39 | ) | 24.38 | (20.27 | ) | 81,957 | 0.87 | (3) | 0.87 | (3) | 89 | ||||||||||||||||||||||||||||||||||
12/31/12 | 24.38 | 0.28 | 0.55 | 0.83 | (0.27 | ) | — | (2.33 | ) | (2.60 | ) | 22.61 | 3.54 | 84,409 | 0.83 | (3) | 1.18 | (3) | 55 | |||||||||||||||||||||||||||||||||||||
06/30/13(7) | 22.61 | 0.13 | (2.14 | ) | (2.01 | ) | — | — | — | — | 20.60 | (8.89 | ) | 80,231 | 0.85 | (3)(8) | 1.16 | (3)(8) | 32 | |||||||||||||||||||||||||||||||||||||
Natural Resources Portfolio Class 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 69.31 | 0.42 | (31.04 | ) | (30.62 | ) | (0.46 | ) | — | (11.11 | ) | (11.57 | ) | 27.12 | (49.88 | ) | 20,859 | 0.97 | (3) | 0.74 | (3) | 12 | ||||||||||||||||||||||||||||||||||
12/31/09 | 27.12 | 0.27 | 15.14 | 15.41 | (0.43 | ) | — | (2.25 | ) | (2.68 | ) | 39.85 | 57.87 | 26,828 | 0.97 | 0.81 | 15 | |||||||||||||||||||||||||||||||||||||||
12/31/10 | 39.85 | 0.21 | 5.51 | 5.72 | (0.31 | ) | — | (2.57 | ) | (2.88 | ) | 42.69 | 16.01 | (4) | 24,994 | 0.97 | (3) | 0.55 | (3) | 82 | ||||||||||||||||||||||||||||||||||||
12/31/11 | 42.69 | 0.26 | (8.33 | ) | (8.07 | ) | (0.22 | ) | — | (10.11 | ) | (10.33 | ) | 24.29 | (20.38 | ) | 17,284 | 1.02 | (3) | 0.72 | (3) | 89 | ||||||||||||||||||||||||||||||||||
12/31/12 | 24.29 | 0.24 | 0.55 | 0.79 | (0.22 | ) | — | (2.33 | ) | (2.55 | ) | 22.53 | 3.37 | 15,018 | 0.98 | (3) | 1.01 | (3) | 55 | |||||||||||||||||||||||||||||||||||||
06/30/13(7) | 22.53 | 0.11 | (2.13 | ) | (2.02 | ) | — | — | — | — | 20.51 | (8.97 | ) | 12,946 | 1.00 | (3)(8) | 0.99 | (3)(8) | 32 | |||||||||||||||||||||||||||||||||||||
Natural Resources Portfolio Class 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 69.14 | 0.37 | (30.97 | ) | (30.60 | ) | (0.39 | ) | — | (11.11 | ) | (11.50 | ) | 27.04 | (49.93 | ) | 121,161 | 1.07 | (3) | 0.68 | (3) | 12 | ||||||||||||||||||||||||||||||||||
12/31/09 | 27.04 | 0.24 | 15.08 | 15.32 | (0.38 | ) | — | (2.25 | ) | (2.63 | ) | 39.73 | 57.68 | 168,051 | 1.07 | 0.71 | 15 | |||||||||||||||||||||||||||||||||||||||
12/31/10 | 39.73 | 0.17 | 5.50 | 5.67 | (0.27 | ) | — | (2.57 | ) | (2.84 | ) | 42.56 | 15.93 | (4) | 175,152 | 1.07 | (3) | 0.45 | (3) | 82 | ||||||||||||||||||||||||||||||||||||
12/31/11 | 42.56 | 0.22 | (8.31 | ) | (8.09 | ) | (0.18 | ) | — | (10.11 | ) | (10.29 | ) | 24.18 | (20.47 | ) | 140,166 | 1.12 | (3) | 0.62 | (3) | 89 | ||||||||||||||||||||||||||||||||||
12/31/12 | 24.18 | 0.22 | 0.54 | 0.76 | (0.20 | ) | — | (2.33 | ) | (2.53 | ) | 22.41 | 3.25 | 131,121 | 1.08 | (3) | 0.92 | (3) | 55 | |||||||||||||||||||||||||||||||||||||
06/30/13(7) | 22.41 | 0.10 | (2.11 | ) | (2.01 | ) | — | — | — | — | 20.40 | (8.97 | ) | 115,630 | 1.10 | (3)(8) | 0.89 | (3)(8) | 32 | |||||||||||||||||||||||||||||||||||||
Multi-Asset Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 7.26 | 0.11 | (1.83 | ) | (1.72 | ) | (0.14 | ) | — | (0.71 | ) | (0.85 | ) | 4.69 | (25.89 | ) | 27,156 | 1.31 | (3) | 1.74 | (3) | 101 | ||||||||||||||||||||||||||||||||||
12/31/09 | 4.69 | 0.07 | 1.05 | 1.12 | (0.13 | ) | — | — | (0.13 | ) | 5.68 | 23.99 | 28,151 | 1.38 | (3) | 1.39 | (3) | 71 | ||||||||||||||||||||||||||||||||||||||
12/31/10 | 5.68 | 0.06 | 0.44 | 0.50 | (0.08 | ) | — | — | (0.08 | ) | 6.10 | 9.00 | 26,790 | 1.34 | (3) | 1.09 | (3) | 53 | ||||||||||||||||||||||||||||||||||||||
12/31/11 | 6.10 | 0.04 | (0.11 | ) | (0.07 | ) | (0.08 | ) | — | — | (0.08 | ) | 5.95 | (1.17 | ) | 23,405 | 1.46 | (3) | 0.69 | (3) | 53 | |||||||||||||||||||||||||||||||||||
12/31/12 | 5.95 | 0.06 | 0.51 | 0.57 | (0.06 | ) | — | — | (0.06 | ) | 6.46 | 9.50 | 22,114 | 1.42 | (3(5) | 0.90 | (3(5) | 75 | ||||||||||||||||||||||||||||||||||||||
06/30/13(7) | 6.46 | 0.03 | 0.39 | 0.42 | — | — | — | — | 6.88 | 6.50 | 21,755 | 1.10 | (3)(5)(8) | 1.00 | (3)(5)(8) | 42 | ||||||||||||||||||||||||||||||||||||||||
Multi-Asset Portfolio Class 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/08/12(6) - 12/31/12 | 6.53 | 0.01 | (0.08 | ) | (0.07 | ) | — | — | — | — | 6.46 | (1.07 | ) | 99 | 1.35 | (3)(5)(8) | 0.92 | (3)(5)(8) | 75 | |||||||||||||||||||||||||||||||||||||
06/30/13(7) | 6.46 | 0.03 | 0.38 | 0.41 | — | — | — | — | 6.87 | 6.35 | 105 | 1.35 | (3)(5)(8) | 0.75 | (3)(5)(8) | 42 | ||||||||||||||||||||||||||||||||||||||||
Strategic Multi-Asset Portfolio Class 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/08 | 10.15 | 0.08 | (2.80 | ) | (2.72 | ) | — | — | (1.64 | ) | (1.64 | ) | 5.79 | (29.46 | ) | 24,448 | 1.50 | (3) | 0.99 | (3) | 150 | |||||||||||||||||||||||||||||||||||
12/31/09 | 5.79 | 0.04 | 1.36 | 1.40 | (0.40 | ) | — | — | (0.40 | ) | 6.79 | 24.51 | 26,059 | 1.57 | (3) | 0.67 | (3) | 147 | ||||||||||||||||||||||||||||||||||||||
12/31/10 | 6.79 | 0.02 | 0.86 | 0.88 | — | — | — | — | 7.67 | 12.96 | 25,272 | 1.55 | (3) | 0.34 | (3) | 99 | ||||||||||||||||||||||||||||||||||||||||
12/31/11 | 7.67 | 0.04 | (0.33 | ) | (0.29 | ) | (0.08 | ) | — | — | (0.08 | ) | 7.30 | (3.81 | ) | 21,089 | 1.71 | (3) | 0.51 | (3) | 120 | |||||||||||||||||||||||||||||||||||
12/31/12 | 7.30 | 0.04 | 1.06 | 1.10 | (0.20 | ) | — | — | (0.20 | ) | 8.20 | 15.10 | 21,316 | 1.71 | (3) | 0.54 | (3) | 105 | ||||||||||||||||||||||||||||||||||||||
06/30/13(7) | 8.20 | 0.04 | 0.47 | 0.51 | — | — | — | — | 8.71 | 6.22 | 21,451 | 1.80 | (3)(8) | 0.97 | (3)(8) | 59 |
(1) | Calculated based upon average shares outstanding. |
(2) | Total return is not annualized and does not reflect expenses that apply to the separate accounts of the Life Companies. If such expenses had been included, the total return would have been lower for each period presented. |
(3) | Excludes expense reductions. If these expense reductions had been applied, the ratio of expenses to average net assets would have been lower and the ratio of net investment income (loss) to average net assets would have been higher by the following (See Note 4): |
12/31/08 | 12/31/09 | 12/31/10 | 12/31/11 | 12/31/12 | 06/30/13(7)(8) | |||||||||||||||||||
Natural Resources Portfolio Class 1 | 0.00 | % | — | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||
Natural Resources Portfolio Class 2 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Natural Resources Portfolio Class 3 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Multi-Asset Portfolio Class 1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Multi-Asset Portfolio Class 3 | — | — | — | — | 0.00 | (8) | 0.00 | |||||||||||||||||
Strategic Multi-Asset Portfolio Class 1 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
(4) | Total return for Class 1, Class 2, and Class 3 were increased by 0.25%, 0.22%, and 0.22% respectively, from gains on the disposal of investments in violation of investment restrictions. |
(5) | Net of the following expense reimbursements/fee waivers (based on average net assets) (See Note 3): |
12/31/12 | 06/30/13(7)(8) | |||||||
Multi-Asset Portfolio Class 1 | 0.17 | % | 0.48 | % | ||||
Multi-Asset Portfolio Class 3 | 0.76 | (8) | 0.48 |
(6) | Commencement of operations. |
(7) | Unaudited |
(8) | Annualized |
See Notes to Financial Statements
| ||
104 |
Table of Contents
ANCHOR SERIES TRUST
APPROVAL OF THE INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT AND SUBADVISORY AGREEMENTS — (unaudited)
The Board of Trustees (the “Board,” the members of which are referred to as “Trustees”) of Anchor Series Trust (the “Trust”), including the Trustees who are not “interested persons,” as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the “1940 Act”), of the Trust or its separate series (each a “Portfolio” and together, the “Portfolios”), SunAmerica Asset Management Corp. (“SAAMCo”), Edge Asset Management, Inc. (“Edge”) or Wellington Management Company, LLP (“Wellington,” and together with Edge, the “Subadvisers”) (the “Disinterested Trustees”), approved the continuation of the Investment Advisory and Management Agreement between the Trust, on behalf of the Portfolios, and SAAMCo (the “Advisory Agreement”) for a one-year period ending June 30, 2014 at an in-person meeting held on June 4, 2013 (the “Meeting”). The Trust currently consists of eight separate Portfolios, including the Asset Allocation Portfolio, Capital Appreciation Portfolio, Government and Quality Bond Portfolio, Growth Portfolio, Growth and Income Portfolio, Multi-Asset Portfolio, Natural Resources Portfolio and Strategic Multi-Asset Portfolio.
At the Meeting, the Board, including the Disinterested Trustees, also approved the continuation of the Subadvisory Agreement between SAAMCo and Wellington with respect to the Growth and Income Portfolio, Growth Portfolio, Capital Appreciation Portfolio, Natural Resources Portfolio, Multi-Asset Portfolio, Strategic Multi-Asset Portfolio and Government and Quality Bond Portfolio and the Subadvisory Agreement between SAAMCo and Edge with respect to the Asset Allocation Portfolio (the “Subadvisory Agreements,” and together with the Advisory Agreement, the “Agreements”), each for a one-year period ending June 30, 2014.
In accordance with Section 15(c) of the 1940 Act, the Board requested, and SAAMCo and the Subadvisers provided, materials relating to the Board’s consideration of whether to approve the continuation of the Agreements. These materials included (a) a summary of the services provided to the Portfolios by SAAMCo and its affiliates, and by the Subadvisers; (b) information independently compiled and prepared by Lipper, Inc. (“Lipper”) on fees and expenses of the Portfolios, and the investment performance of the Portfolios as compared with a peer group of funds, along with fee and performance data with respect to the Funds and any other mutual funds or other accounts advised or subadvised by SAAMCo or the Subadvisers with similar investment objectives and/or strategies, as applicable; (c) information on the profitability of SAAMCo and its affiliates, and a discussion relating to indirect benefits; (d) information relating to economies of scale; (e) information about SAAMCo’s general compliance policies and procedures and the services it provides in connection with its oversight of subadvisers; (f) information about SAAMCo’s and the Subadvisers’ risk management process; (g) information regarding brokerage and soft dollar practices; and (h) information about the key personnel of SAAMCo, and its affiliates, and the Subadvisers, that are involved in the investment management, administration, compliance and risk management activities with respect to the Portfolios, as well as current and projected staffing levels and compensation practices.
In determining whether to approve the continuation of the Agreements, the Board, including the Disinterested Trustees, considered at the Meeting, and from time to time as appropriate, factors that it deemed relevant, including the following information:
Nature, Extent and Quality of Services Provided by SAAMCo and the Subadvisers. The Board, including the Disinterested Trustees, considered the nature, quality and extent of services provided by SAAMCo. The Board noted that the services include acting as investment manager and adviser to the Portfolios, managing the daily business affairs of the Portfolios, and obtaining and evaluating economic, statistical and financial information to formulate and implement investment policies. Additionally, the Board observed that SAAMCo provides office space, bookkeeping, accounting, legal and compliance, clerical and administrative services, and has authorized its officers and employees, if elected, to serve as officers or Trustees of the Trust without compensation. Finally, the Board noted that SAAMCo is responsible for monitoring and reviewing the activities of affiliated and unaffiliated third-party service providers, including the Subadvisers. In addition to the quality of the advisory services provided by SAAMCo, the Board considered the quality of the administrative and other services provided by SAAMCo to the Portfolios pursuant to the Advisory Agreement.
In connection with the services provided by SAAMCo, the Board analyzed the structure and duties of SAAMCo’s fund administration, accounting, operations, legal and compliance departments and concluded that they were adequate to meet the needs of the Portfolios. The Board also reviewed the personnel responsible for providing advisory services to the Portfolios and other key personnel of SAAMCo in addition to current and projected staffing levels and compensation practices. The Board further considered certain strategic changes that SAAMCo intended to implement with respect to its investment department, and concluded, based on their experience and interaction with SAAMCo, that: (i) SAAMCo has been able to retain quality investment and other personnel; (ii) SAAMCo has exhibited a high level of diligence and attention to detail in carrying out its advisory and other responsibilities under the Advisory Agreement; (iii) SAAMCo has been responsive to requests of the Board; and (iv) SAAMCo has kept the Board apprised of developments relating to the Portfolios and the industry in general. The Board concluded that the nature and extent of services provided under the Advisory Agreement were reasonable and appropriate in relation to the management fee and that the quality of services continues to be high.
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The Board also considered SAAMCo’s reputation and long-standing relationship with the Portfolios and considered the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of types of mutual funds and shareholder services. The Board considered SAAMCo’s experience in providing management and investment advisory and administrative services to advisory clients and noted that as of March 31, 2013, SAAMCo managed, advised and/or administered approximately $54.8 billion in assets. In addition, the Board considered SAAMCo’s code of ethics and its commitment to compliance generally and with respect to its management and administration of the Portfolios. The Board also considered SAAMCo’s risk management process. The Board further observed that SAAMCo has developed internal procedures, adopted by the Board, for monitoring compliance with the investment objectives, policies and restrictions of the Portfolios as set forth in the Portfolios’ prospectus. The Board also reviewed SAAMCo’s compliance and regulatory history, and noted that there were no material legal, regulatory or compliance issues that would potentially impact SAAMCo in effectively serving as the investment adviser to the Portfolios.
The Board also considered the nature, quality and extent of subadvisory services provided by each Subadviser to the applicable Portfolios. The Board observed that the Subadvisers are responsible for providing day-to-day investment management services, including investment research, advice and supervision, and determining which securities will be purchased or sold by the Portfolio that each Subadviser manages, subject to the oversight and review of SAAMCo. The Board reviewed each Subadviser’s history, structure, size, visibility and resources, which are needed to attract and retain highly qualified investment professionals. The Board reviewed the personnel that are responsible for providing subadvisory services to the Portfolios, and other key personnel of each Subadviser, in addition to current and projected staffing levels and compensation practices, and concluded, based on their experience with the Subadvisers, that each Subadviser: (i) has been able to retain high quality portfolio managers and other investment personnel; (ii) has exhibited a high level of diligence and attention to detail in carrying out its responsibilities under the Subadvisory Agreement; and (iii) has been responsive to requests of the Board and of SAAMCo. In addition, the Board considered each Subadviser’s code of ethics and risk management process. The Board further observed that each Subadviser has developed internal policies and procedures for monitoring compliance with the investment objectives, policies and restrictions of the Portfolios as set forth in the Portfolios’ prospectus. The Board also reviewed each Subadviser’s compliance and regulatory history, and noted that there were no material legal, regulatory or compliance issues that would potentially impact the Subadvisers from effectively serving as subadvisers to the Portfolios. The Board concluded that the nature and extent of services provided by each Subadviser under the respective Subadvisory Agreement were reasonable and appropriate in relation to the subadvisory fee and that the quality of services continues to be high.
Investment Performance. The Board, including the Disinterested Trustees, also considered the investment performance of SAAMCo and the Subadvisers with respect to the Portfolios. In connection with its review, the Board received and reviewed information regarding the investment performance of the Portfolios as compared to each Portfolio’s peer group (“Peer Group”) and/or peer universe (“Peer Universe”) as independently determined by Lipper and to an appropriate index or combination of indices. The Board was provided with a description of the methodology used by Lipper to select the funds in the Peer Groups and Peer Universes.
It was noted that performance information was for the periods ended March 31, 2013. The Board also noted that it regularly reviews the performance of the Portfolios throughout the year. The Board further noted that, while it monitors performance of the Portfolios closely, it generally attaches more importance to performance over relatively long periods of time, typically three to five years.
Asset Allocation Portfolio. The Board considered that the Portfolio’s performance was above the median of its Peer Group and Peer Universe for the one-, three-, and five- year periods. The Board further considered that the Portfolio outperformed its Lipper Index for the one-, three-, and five year periods. The Board concluded that the Portfolio’s performance was satisfactory.
Capital Appreciation Portfolio. The Board considered that the Portfolio’s performance was above the median of its Peer Group and Peer Universe for the one-, three- and five-year periods. The Board also considered that the Portfolio outperformed its Lipper Index for the one-, three- and five-year periods. The Board concluded that the Portfolio’s performance was satisfactory.
Growth and Income Portfolio. The Board considered that the Portfolio’s performance was below the median of its Peer Group and Peer Universe for the one-, three- and five- year periods. The Board also considered that the Portfolio underperformed its Lipper Index for the one-, three- and five-year periods. The Board noted management’s discussion of the Portfolio’s performance, including the continued monitoring of the Portfolio as well as the fact that a new portfolio management team within Wellington had assumed responsibility for the day-to-day management of the Portfolio in May 2013. The Board concluded that the Portfolio’s performance was being addressed.
Growth Portfolio. The Board considered that the Portfolio’s performance was below the median of its Peer Group and Peer Universe for the one-, three- and five year periods. The Board also considered that the Portfolio underperformed its Lipper Index for the one-, three- and five-year periods. The Board noted management’s discussion of the Portfolio’s performance, including the continued monitoring of the Portfolio, and concluded that the Portfolio’s performance was being addressed.
Government and Quality Bond Portfolio. The Board considered that the Portfolio’s performance was above the median of its Peer Group and Peer Universe for the one- and three-year periods and below the median of its Peer Group and Peer Universe for the five-year period. The Board noted that the Lipper Report did not include a comparison of the Portfolio’s performance against the Lipper Index. The Board concluded that the Portfolio’s overall performance was satisfactory.
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Multi-Asset Portfolio. The Board considered that the Portfolio��s performance was below the median of its Peer Group and Peer Universe for the one-, three- and five-year periods. The Board also considered that the Portfolio underperformed its Lipper Index for the one-, three-, and five-year periods. The Board noted management’s discussion regarding the Portfolio’s performance, including the continued monitoring of the Portfolio, and concluded that the Portfolio’s was being addressed.
Natural Resources Portfolio. The Board considered that the Portfolio’s performance was below the median of its Peer Group and Peer Universe for the one-, three-, and five-year periods. The Board further considered that the Portfolio underperformed its Lipper Index for the one-, three- and five-year periods. The Board noted management’s discussions of the Portfolio’s performance, as well as management’s continued monitoring of the Portfolio. The Board concluded that the Portfolio’s performance was being addressed.
Strategic Multi-Asset Portfolio. The Board considered that the Portfolio’s performance was above the median of its Peer Group for the one-year period and below the median for the three- and five-year periods. The Board also considered that the Portfolio’s performance was below the median of its Peer Universe for the one- and three- year periods and at the median of its Peer Universe for the five-year period. The Board also noted that the Lipper Report did not compare the Strategic Multi-Asset Portfolio to a Lipper Index. The Board noted management’s discussions of the Portfolio’s performance, including the continued monitoring of the Portfolio, and concluded that the Portfolio’s performance was being addressed.
While the Board noted its concern with respect to the performance of certain of the Portfolios, it also considered that appropriate resources were being dedicated to address these performance concerns. The Board further noted that it would continue to evaluate each such Portfolio’s performance.
Consideration of the Management Fees and Subadvisory Fees and the Cost of the Services and Profits to be Realized by SAAMCo, the Subadvisers and their Affiliates from the Relationship with the Portfolios. The Board, including the Disinterested Trustees, received and reviewed information regarding the fees to be paid by the Portfolios to SAAMCo pursuant to the Advisory Agreement and the fees paid by SAAMCo to the Subadvisers pursuant to the Subadvisory Agreements. The Board examined this information in order to determine the reasonableness of the fees in light of the nature and quality of services to be provided and any potential additional benefits to be received by SAAMCo, the Subadvisers or their affiliates in connection with providing such services to the Portfolios.
To assist in analyzing the reasonableness of the management fee for each of the Portfolios, the Board received reports independently prepared by Lipper. The reports showed comparative fee information for each Portfolio’s Peer Group and/or Peer Universe, as determined by Lipper, including rankings within each category. In considering the reasonableness of the management fee to be paid by each Portfolio to SAAMCo, the Board reviewed a number of expense comparisons, including: (i) contractual and actual management fees; and (ii) actual total operating expenses. The Board also considered the various expense components of the Portfolios and compared each Portfolio’s net expense ratio to those of other funds within its Peer Group and/or Peer Universe as a guide to help assess the reasonableness of the management fee for the Portfolios. The Board acknowledged that it was difficult to make precise comparisons with other funds in the Peer Groups and Peer Universes since the exact nature of services provided under the various fund agreements is often not apparent. The Board noted, however, that the comparative fee information provided by Lipper as a whole was useful in assessing whether SAAMCo was providing services at a cost that was competitive with other, similar funds.
The Board also considered management fees received by SAAMCo with respect to other mutual funds and accounts with similar investment strategies to the Portfolios, as applicable. The Board noted that the mutual funds identified as similar to the Portfolio are sold only in the variable annuity market and, accordingly, are in different Lipper classifications, with peer groups consisting of funds underlying variable insurance products. The Board noted that the management fees paid by the Portfolios were reasonable as compared to the fees SAAMCo was receiving from other mutual funds and accounts for which it serves as adviser or subadviser.
The Board also received and reviewed information regarding the fees paid by SAAMCo to the Subadvisers pursuant to the Subadvisory Agreements. To assist in analyzing the reasonableness of the subadvisory fees, the Board received a report prepared independently by Lipper. The report showed comparative fee information for the Portfolios’ Peer Groups and/or Peer Universes that the Trustees used as a guide to help assess the reasonableness of the subadvisory fee. The Trustees noted that Peer Group information as a whole was useful in assessing whether the Subadvisers were providing services at a cost that was competitive with other similar funds. The Trustees also considered that the subadvisory fees are paid by SAAMCo out of its management fee and not by the Portfolios, and that subadvisory fees may vary widely within a Peer Group for various reasons, including market pricing demands, existing relationships, experience and success, and individual client needs. The Board further considered the amount of subadvisory fees paid out by SAAMCo and the amount of the management fees which it retained and determined that these amounts were reasonable in light of the services performed by SAAMCo and the Subadvisers, respectively.
The Board also considered advisory fees received by the Subadvisers with respect other mutual funds and accounts with similar investment strategies to the Portfolio or Portfolios for which they serve as adviser or subadviser, as applicable. The Board noted in particular that certain of the similar accounts identified by Wellington were institutional separate accounts, and Wellington highlighted certain differences between these separate accounts and the applicable Portfolios, including that these separate accounts are subject to different investment limitations and restrictions and do not experience daily cash flows in a manner similar to the Portfolios. The Board also recognized that, with respect to the Asset Allocation Portfolio, the similar account identified by Edge utilizes a fund of funds structure, which increases overall expenses due to additional fees in the underlying funds held and that these material differences make performance and fee comparisons with the Portfolio less meaningful. The Board then noted that the subadvisory fees paid by
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SAAMCo to the Subadvisers were reasonable as compared to fees the Subadvisers receive for other such investment companies or clients for which it serves as adviser or subadviser.
Asset Allocation Portfolio. The Board considered that the Portfolio’s actual management fees were above the median of its Peer Group and below the median of its Peer Universe. The Board also considered that the Portfolio’s total expenses were above the median of its Peer Group and below the median of its Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints and further noted management’s discussion regarding the Portfolio’s expenses.
Capital Appreciation Portfolio. The Board considered that the Portfolio’s actual management fees were above the median of its Peer Group and at the median of its Peer Universe. The Board also considered that the Portfolio’s total expenses were above the median of its Peer Group and below the median of its Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints.
Growth and Income Portfolio. The Board considered that the Portfolio’s actual management fees were above the median of its Peer Group and Peer Universe. The Board also considered that the Portfolio’s total expenses were above the median of its Peer Group and its Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints and further noted management’s discussion regarding the Portfolio’s expenses, including the fact that the Portfolio was small, which had an adverse impact on expenses.
Growth Portfolio. The Board considered that the Portfolio’s actual management fees were below the median of its Peer Group and above the median of its Peer Universe. The Board also considered that the Portfolio’s total expenses were below the median of its Peer Group and Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints.
Government and Quality Bond Portfolio. The Board considered that the Portfolio’s actual management fees were above the median of its Peer Group and its Peer Universe. The Board also considered that the Portfolio’s total expenses were above the median of its Peer Group and below the median of its Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints and further noted management’s discussions regarding the Portfolio’s expenses.
Multi-Asset Portfolio. The Board considered that the Portfolio’s actual management fees were above the median of its Peer Group and its Peer Universe. The Board also considered that the Portfolio’s total expenses were above the median of its Peer Group and its Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints and further noted management’s discussion regarding the Portfolio’s expenses.
Natural Resources Portfolio. The Board considered that the Portfolio’s actual management fees were below the median of its Peer Group and its Peer Universe. The Board also considered that the Portfolio’s total expenses were below the median of its Peer Group and at the median of its Peer Universe.
Strategic Multi-Asset Portfolio. The Board considered that the Portfolio’s actual management fees were above the median of its Peer Group and its Peer Universe. The Board also considered that the Portfolio’s total expenses were above the median of its Peer Group and its Peer Universe. The Board noted that the Fund’s advisory fee contains breakpoints and further noted management’s discussions regarding the Portfolio’s expenses, including the fact that the Portfolio was small, which had an adverse impact on expenses.
Profitability. The Board also considered SAAMCo’s profitability and the benefits SAAMCo and its affiliates received from their relationship with the Portfolios. The Board received and reviewed financial statements relating to SAAMCo’s financial condition and profitability with respect to the services it provided the Portfolios and considered how profit margins could affect SAAMCo’s ability to attract and retain high quality investment professionals and other key personnel. The Board was also provided with a profitability analysis that detailed the revenue earned and the expenses incurred by SAAMCo, and its affiliates that provide services to the Portfolios on a Portfolio-by-Portfolio basis.
The Board considered the profitability of SAAMCo under the Advisory Agreement, including the amount of management fees it retained after payment to the Subadvisers, and considered the profitability of SAAMCo’s affiliates under the Rule 12b-1 Plans. Additionally, the Board considered whether SAAMCo, the Subadvisers and their affiliates received any indirect benefits from the relationship with the Portfolios. Specifically, the Board observed that, pursuant to arrangements between SAAMCo and certain affiliated insurance companies, SAAMCo may contribute profits and receive administrative fees with respect to certain annuity products (including the Trust). The Board further observed that in calculating their corporate income tax liability as insurance companies, certain affiliated life insurance companies receive a tax benefit with respect to dividends paid by the Portfolios. In addition, it was noted that such affiliated life insurance companies may also rely on foreign tax credits with respect to certain foreign securities held in applicable Portfolios. The Board also noted that certain affiliated life insurance companies also receive financial support from SAAMCo and certain Subadvisers for distribution-related activities, including payments to help offset costs for education and training to support sales of the Portfolios, as well as occasional gifts, entertainment or other compensation as incentives and that such payments may be derived from investment management fees received by SAAMCo or Subadvisers.
The Board further considered whether there were any collateral or “fall-out” benefits that SAAMCo and its affiliates may derive as a result of their relationship with the Portfolios. The Board noted that SAAMCo believes that any such benefits are de minimis and do not impact the reasonableness of the management fees.
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The Board also reviewed the Subadvisers’ financial statements and considered whether the Subadvisers had the financial resources necessary to attract and retain high quality investment management personnel and to provide a high quality of services.
The Board concluded that SAAMCo and the Subadvisers had the financial resources necessary to perform their obligations under the Agreements and to continue to provide the Portfolios with the high quality services that they had provided in the past. The Board also concluded that the management fee and subadvisory fees were reasonable in light of the factors discussed above.
Economies of Scale. The Board, including the Disinterested Trustees, considered whether the shareholders would benefit from economies of scale and whether there was potential for future realization of economies with respect to the Portfolios. The Board considered that as a result of being part of the SAAMCo fund complex, the Portfolios share common resources and may share certain expenses, and if the size of the complex increases, each Portfolio could incur lower expenses than they otherwise would achieve as stand-alone entities. The Board also took into account that the management fee arrangements (other than with respect to the Natural Resources Portfolio) included breakpoints that will adjust the fee downward as the size of Portfolios increase, thereby allowing the shareholders to participate in any economies of scale. The Board concluded that the Portfolios’ management fee structures were reasonable and that it would continue to review fees in connection with the renewal of the Advisory Agreement, including whether the implementation of additional breakpoints would be appropriate in the future due to an increase in asset size or otherwise.
The Board noted that the Subadvisory Agreements included breakpoints, but did not review specific information regarding whether there have been economies of scale with respect to the Subadvisers’ management of the Portfolios because it regards that information as less relevant at the subadviser level. Rather, the Board considered information regarding economies of scale in the context of the renewal of the Advisory Agreement and concluded that the management fee structure, including the amount of management fees retained by SAAMCo, was reasonable in light of the factors described above.
Other Factors. In consideration of the Agreements, the Board also received information regarding SAAMCo’s and the Subadvisers’ brokerage and soft dollar practices. The Board considered that the Subadvisers are responsible for decisions to buy and sell securities for the Portfolios they manage, selection of broker-dealers and negotiation of commission rates. The Board noted that it receives reports from SAAMCo and from an independent third party which include information on brokerage commissions and execution throughout the year. The Board also considered the benefits SAAMCo and the Subadvisers derive from their soft dollar arrangements, including arrangements under which brokers provide brokerage and/or research services to SAAMCo and/or the Subadvisers in return for allocating brokerage.
Conclusion. After a full and complete discussion, the Board approved the Agreements, each for a one-year period ending June 30, 2014. Based upon their evaluation of all these factors in their totality, the Board, including the Disinterested Trustees, was satisfied that the terms of the Agreements were fair and reasonable and in the best interests of the Portfolios and the Portfolios’ shareholders. In arriving at a decision to approve the Agreements, the Board did not identify any single factor or group of factors as all-important or controlling, but considered all factors together, and each Disinterested Trustee may have attributed different weights to different factors. The Disinterested Trustees were also assisted by the advice of independent counsel in making this determination.
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ANCHOR SERIES TRUST
VOTING PROXIES ON TRUST PORTFOLIO SECURITIES
A description of the policies and procedures that the Trust uses to determine how to vote proxies related to securities held in the Trust’s Portfolios which is available in the Trust’s Statement of Additional Information, may be obtained without charge upon request, by calling (800) 445-SUN2. This information is also available from the EDGAR database on the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.
PROXY VOTING RECORD ON TRUST PORTFOLIO SECURITIES
Information regarding how Anchor Series Trust Portfolios voted proxies related to securities held in Anchor Series Trust Portfolios during the most recent twelve month period ended June 30 is available once filed with the U.S. Securities and Exchange Commission, without charge, upon request, by calling (800) 445-SUN2 or on the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.
DISCLOSURE OF QUARTERLY PORTFOLIO HOLDINGS
The Trust is required to file its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission for its first and third fiscal quarters on Form N-Q. The Trust’s Forms N-Q are available on the U.S. Securities and Exchange Commission’s website at http://www.sec.gov. You can also review and obtain copies of the Forms N-Q at the U.S. Securities and Exchange Commission’s Public Reference Room in Washington, DC (information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330).
This report is submitted solely for the general information of shareholders of the Trust. Distribution of this report to persons other than shareholders of the Trust is authorized only in connection with a currently effective prospectus, setting forth details of the Trust, which must precede or accompany this report.
Additional information concerning the Trustees and Officers is contained in the Statement of Additional Information and is available without charge by calling (800) 445-SUN2.
The accompanying report has not been audited by independent accountants and accordingly no opinion has been expressed thereon.
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P.O. Box 15570 Amarillo, TX 79105-5570
CHANGE SERVICE REQUESTED |
THISREPORTISNOTAUTHORIZEDFORDISTRIBUTIONTOPROSPECTIVEPURCHASERSUNLESSACCOMPANIEDORPRECEDEDBYACURRENTPROSPECTUS.
G1112SAR.10 (8/13)
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Item 2. | Code of Ethics. |
Not applicable.
Item 3. | Audit Committee Financial Expert. |
Not applicable.
Item 4. | Principal Accountant Fees and Services. |
Not applicable.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
Item 6. | Investments. |
Included in Item 1 to the Form.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable.
Item 8. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable.
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable.
Item 10. | Submission of Matters to a Vote of Security Holders. |
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees that were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a - 101)), or this Item 10.
Item 11. | Controls and Procedures. |
(a) | An evaluation was performed within 90 days of the filing of this report, under the supervision and with the participation of the registrant’s management, including the President and Treasurer, of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c))). Based on that evaluation, the registrant’s management, including the President and Treasurer, concluded that the registrant’s disclosure controls and procedures are effective. |
(b) | There was no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d))) that occurred during the registrant’s last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. | Exhibits. |
(a) | (1) Not applicable. |
(2) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT. |
(3) Not applicable. |
(b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) and Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto as Exhibit 99.906.CERT. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Anchor Series Trust | ||
By: | /s/ John T. Genoy | |
John T. Genoy President |
Date: September 5, 2013
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ John T. Genoy | |
John T. Genoy President |
Date: September 5, 2013
By: | /s/ Donna M. Handel | |
Donna M. Handel Treasurer |
Date: September 5, 2013