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semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
N-CSRS
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
semi-annual shareholder report
NYLIM VP FUNDS TRUST
2026-06-30
NYLIM VP Bond Portfolio(formerly known as NYLI VP Bond Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_646_30366ad7_c975_5673_8ad1_150c3f53dac7;">semiannual shareholder report</span> contains important information about NYLIM VP Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>27</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.55<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
27
0.0055
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472246.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1/23/1984</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.67<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.80<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">(0.26<span>)</span><span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.45<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Intermediate Core Bond Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.77%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.57%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1984-01-23
0.0067
0.0380
-0.0026
0.0145
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Morningstar Intermediate Core Bond Category Average
0.0069
0.0377
0.0008
0.0157
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>536,895,098<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">293<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">139<span>%</span></td> </tr> </table>
536895098
293
1.39
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 1.50%-7.50%, due 7/1/28-5/1/54</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.125%, due 4/30/28-4/30/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS Pool, 30 Year, 2.00%-5.50%, due 11/1/50-2/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 0.689%-6.00%, due 6/20/51-4/16/65</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, Other, 2.50%-4.50%, due 6/1/62-6/1/64</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 2.50%-5.50%, due 10/20/51-7/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, 30 Year, 2.00%-4.50%, due 3/20/51-9/20/52</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">BX Trust, 3.856%-5.325%, due 12/9/41-7/15/44</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pacific Gas and Electric Co., 5.45%-6.95%, due 6/15/27-3/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">39.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">32.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 1.50%-7.50%, due 7/1/28-5/1/54</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.125%, due 4/30/28-4/30/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS Pool, 30 Year, 2.00%-5.50%, due 11/1/50-2/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 0.689%-6.00%, due 6/20/51-4/16/65</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, Other, 2.50%-4.50%, due 6/1/62-6/1/64</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 2.50%-5.50%, due 10/20/51-7/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, 30 Year, 2.00%-4.50%, due 3/20/51-9/20/52</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">BX Trust, 3.856%-5.325%, due 12/9/41-7/15/44</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pacific Gas and Electric Co., 5.45%-6.95%, due 6/15/27-3/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.118
0.100
0.070
0.041
0.032
0.022
0.022
0.013
0.013
0.011
0.397
0.328
0.162
0.102
0.003
0.008
NYLIM VP Bond Portfolio(formerly known as NYLI VP Bond Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_647_7dc76525_6d2a_4262_82d5_36c2d5152c55;">semiannual shareholder report</span> contains important information about NYLIM VP Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>40</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.80<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
40
0.0080
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472247.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/4/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.55<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.54<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">(0.51<span>)</span><span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.20<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Intermediate Core Bond Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.77%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.57%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-04
0.0055
0.0354
-0.0051
0.0120
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Morningstar Intermediate Core Bond Category Average
0.0069
0.0377
0.0008
0.0157
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>536,895,098<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">293<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">139<span>%</span></td> </tr> </table>
536895098
293
1.39
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 1.50%-7.50%, due 7/1/28-5/1/54</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.125%, due 4/30/28-4/30/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS Pool, 30 Year, 2.00%-5.50%, due 11/1/50-2/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 0.689%-6.00%, due 6/20/51-4/16/65</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, Other, 2.50%-4.50%, due 6/1/62-6/1/64</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 2.50%-5.50%, due 10/20/51-7/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, 30 Year, 2.00%-4.50%, due 3/20/51-9/20/52</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">BX Trust, 3.856%-5.325%, due 12/9/41-7/15/44</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pacific Gas and Electric Co., 5.45%-6.95%, due 6/15/27-3/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">39.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">32.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 1.50%-7.50%, due 7/1/28-5/1/54</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.125%, due 4/30/28-4/30/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS Pool, 30 Year, 2.00%-5.50%, due 11/1/50-2/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 0.689%-6.00%, due 6/20/51-4/16/65</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, Other, 2.50%-4.50%, due 6/1/62-6/1/64</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 2.50%-5.50%, due 10/20/51-7/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, 30 Year, 2.00%-4.50%, due 3/20/51-9/20/52</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">BX Trust, 3.856%-5.325%, due 12/9/41-7/15/44</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pacific Gas and Electric Co., 5.45%-6.95%, due 6/15/27-3/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.118
0.100
0.070
0.041
0.032
0.022
0.022
0.013
0.013
0.011
0.397
0.328
0.162
0.102
0.003
0.008
NYLIM VP MacKay U.S. Infrastructure Bond Portfolio(formerly known as NYLI VP MacKay U.S. Infrastructure Bond Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_652_1e984092_0fd1_0a1d_c8c0_0c3b558f8c2a;">semiannual shareholder report</span></span> contains important information about NYLIM VP MacKay U.S. Infrastructure Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>28</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.57<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
28
0.0057
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2024, the Portfolio modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472248.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1/29/1993</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.81<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.32<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.47<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.13<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg 5-10 Year Taxable Municipal Bond Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.60%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.53%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.09%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Intermediate Core Bond Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.77%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.57%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg 5-10 Year Taxable Municipal Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is the 5-10 year component of the Bloomberg Taxable Municipal Bond Index.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1993-01-29
0.0081
0.0432
0.0047
0.0113
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Bloomberg 5-10 Year Taxable Municipal Bond Index
0.0060
0.0453
0.0109
0.0254
Morningstar Intermediate Core Bond Category Average
0.0069
0.0377
0.0008
0.0157
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>225,805,966<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">151<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">18<span>%</span></td> </tr> </table>
225805966
151
0.18
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Hawaii, 1.695%-5.159%, due 8/1/32-10/1/41</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Illinois, 4.62%-6.725%, due 5/1/31-6/15/38</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">City of New York, 1.923%-5.75%, due 8/1/31-2/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of California, 7.55%-7.60%, due 4/1/39-11/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Transitional Finance Authority, 1.97%-5.01%, due 5/1/32-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York State Dormitory Authority, 2.202%-5.228%, due 7/1/32-7/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commonwealth of Massachusetts, 1.67%-3.769%, due 7/15/29-9/1/43</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Massachusetts Educational Financing Authority, 5.95%-6.166%, due 7/1/44-7/1/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oregon State Lottery, 5.031%-5.093%, due 4/1/34-4/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Housing Development Corp., 5.458%-6.033%, due 12/15/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Municipal Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">93.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Hawaii, 1.695%-5.159%, due 8/1/32-10/1/41</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Illinois, 4.62%-6.725%, due 5/1/31-6/15/38</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">City of New York, 1.923%-5.75%, due 8/1/31-2/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of California, 7.55%-7.60%, due 4/1/39-11/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Transitional Finance Authority, 1.97%-5.01%, due 5/1/32-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York State Dormitory Authority, 2.202%-5.228%, due 7/1/32-7/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commonwealth of Massachusetts, 1.67%-3.769%, due 7/15/29-9/1/43</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Massachusetts Educational Financing Authority, 5.95%-6.166%, due 7/1/44-7/1/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oregon State Lottery, 5.031%-5.093%, due 4/1/34-4/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Housing Development Corp., 5.458%-6.033%, due 12/15/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.037
0.035
0.033
0.032
0.031
0.030
0.028
0.025
0.023
0.022
0.939
0.046
0.014
0.001
NYLIM VP MacKay U.S. Infrastructure Bond Portfolio(formerly known as NYLI VP MacKay U.S. Infrastructure Bond Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_658_a9bec486_0a64_53b1_c7dc_5b13f8220ef6;">semiannual shareholder report</span> contains important information about NYLIM VP MacKay U.S. Infrastructure Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.82<span>%</span></td> </tr> </table>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
41
0.0082
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2024, the Portfolio modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472249.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/4/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.68<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.05<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.22<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.88<span>%</span></td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg 5-10 Year Taxable Municipal Bond Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.60%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.53%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.09%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.54%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Intermediate Core Bond Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.77%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.57%</td> </tr> </table>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg 5-10 Year Taxable Municipal Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is the 5-10 year component of the Bloomberg Taxable Municipal Bond Index.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-04
0.0068
0.0405
0.0022
0.0088
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Bloomberg 5-10 Year Taxable Municipal Bond Index
0.0060
0.0453
0.0109
0.0254
Morningstar Intermediate Core Bond Category Average
0.0069
0.0377
0.0008
0.0157
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>225,805,966<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">151<span style="visibility: hidden; display: inline;">%</span></td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">18<span>%</span></td> </tr> </table>
225805966
151
0.18
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Hawaii, 1.695%-5.159%, due 8/1/32-10/1/41</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Illinois, 4.62%-6.725%, due 5/1/31-6/15/38</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">City of New York, 1.923%-5.75%, due 8/1/31-2/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of California, 7.55%-7.60%, due 4/1/39-11/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Transitional Finance Authority, 1.97%-5.01%, due 5/1/32-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York State Dormitory Authority, 2.202%-5.228%, due 7/1/32-7/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commonwealth of Massachusetts, 1.67%-3.769%, due 7/15/29-9/1/43</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Massachusetts Educational Financing Authority, 5.95%-6.166%, due 7/1/44-7/1/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oregon State Lottery, 5.031%-5.093%, due 4/1/34-4/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Housing Development Corp., 5.458%-6.033%, due 12/15/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
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<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Municipal Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">93.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Hawaii, 1.695%-5.159%, due 8/1/32-10/1/41</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of Illinois, 4.62%-6.725%, due 5/1/31-6/15/38</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">City of New York, 1.923%-5.75%, due 8/1/31-2/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">State of California, 7.55%-7.60%, due 4/1/39-11/1/40</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Transitional Finance Authority, 1.97%-5.01%, due 5/1/32-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York State Dormitory Authority, 2.202%-5.228%, due 7/1/32-7/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commonwealth of Massachusetts, 1.67%-3.769%, due 7/15/29-9/1/43</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Massachusetts Educational Financing Authority, 5.95%-6.166%, due 7/1/44-7/1/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oregon State Lottery, 5.031%-5.093%, due 4/1/34-4/1/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New York City Housing Development Corp., 5.458%-6.033%, due 12/15/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.037
0.035
0.033
0.032
0.031
0.030
0.028
0.025
0.023
0.022
0.939
0.046
0.014
0.001
NYLIM VP MacKay High Yield Corporate Bond Portfolio(formerly known as NYLI VP MacKay High Yield Corporate Bond Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_650_bfc3b918_836b_8bca_de6a_c2ce6cb1f797;">semiannual shareholder report</span> contains important information about NYLIM VP MacKay High Yield Corporate Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>29</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.59<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
29
0.0059
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472250.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/1995</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.83<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.88<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.97<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.47<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">ICE BofA U.S. High Yield Constrained Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.13%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.69%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar High Yield Bond Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.96%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.70%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.12%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The ICE BofA U.S. High Yield Constrained Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market value-weighted index of all domestic and Yankee high-yield bonds, including deferred interest bonds and payment-in-kind securities. Issuers included in the ICE BofA U.S. High Yield Constrained Index have maturities of one year or more and have a credit rating lower than BBB-/Baa3, but are not in default. No single issuer may constitute greater than 2% of the ICE BofA U.S. High Yield Constrained Index.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar High Yield Bond Category Average is representative of funds that concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These funds primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1995-05-01
0.0183
0.0488
0.0397
0.0547
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
ICE BofA U.S. High Yield Constrained Index
0.0189
0.0574
0.0413
0.0569
Morningstar High Yield Bond Category Average
0.0196
0.0570
0.0389
0.0512
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>3,114,444,584<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">666<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">16<span>%</span></td> </tr> </table>
3114444584
666
0.16
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 4.625%-7.125%, due 8/15/28-7/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">CCO Holdings LLC, 4.25%-5.375%, due 5/1/27-1/15/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hilton Domestic Operating Co., Inc., 4.00%-6.125%, due 1/15/30-3/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Yum! Brands, Inc., 3.625%-6.875%, due 1/15/30-11/15/37</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Talen Energy Supply LLC, 5.644%-6.50%, due 5/1/31-2/1/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Churchill Downs, Inc., 4.75%-6.75%, due 4/1/27-5/1/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc., 5.75%-6.25%, due 2/1/33-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IHO Verwaltungs GmbH, 6.375%-8.00%, due 5/15/29-5/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">LifePoint Health, Inc., 5.375%-10.00%, due 1/15/29-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mineral Resources Ltd., 6.00%-9.25%, due 10/1/28-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">88.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Preferred Stock</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Bond</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 4.625%-7.125%, due 8/15/28-7/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">CCO Holdings LLC, 4.25%-5.375%, due 5/1/27-1/15/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hilton Domestic Operating Co., Inc., 4.00%-6.125%, due 1/15/30-3/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Yum! Brands, Inc., 3.625%-6.875%, due 1/15/30-11/15/37</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Talen Energy Supply LLC, 5.644%-6.50%, due 5/1/31-2/1/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Churchill Downs, Inc., 4.75%-6.75%, due 4/1/27-5/1/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc., 5.75%-6.25%, due 2/1/33-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IHO Verwaltungs GmbH, 6.375%-8.00%, due 5/15/29-5/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">LifePoint Health, Inc., 5.375%-10.00%, due 1/15/29-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mineral Resources Ltd., 6.00%-9.25%, due 10/1/28-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.025
0.017
0.014
0.013
0.012
0.011
0.010
0.010
0.010
0.009
0.884
0.054
0.009
0.005
0.002
0.046
NYLIM VP MacKay High Yield Corporate Bond Portfolio(formerly known as NYLI VP MacKay High Yield Corporate Bond Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_651_c450e4ef_d295_f792_228b_cade09d25dcf;">semiannual shareholder report</span> contains important information about NYLIM VP MacKay High Yield Corporate Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>42</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.84<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
42
0.0084
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472251.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/4/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.70<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.61<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.71<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.20<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">ICE BofA U.S. High Yield Constrained Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.13%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.69%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar High Yield Bond Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.96%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.70%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.12%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The ICE BofA U.S. High Yield Constrained Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market value-weighted index of all domestic and Yankee high-yield bonds, including deferred interest bonds and payment-in-kind securities. Issuers included in the ICE BofA U.S. High Yield Constrained Index have maturities of one year or more and have a credit rating lower than BBB-/Baa3, but are not in default. No single issuer may constitute greater than 2% of the ICE BofA U.S. High Yield Constrained Index.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar High Yield Bond Category Average is representative of funds that concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These funds primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-04
0.0170
0.0461
0.0371
0.0520
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
ICE BofA U.S. High Yield Constrained Index
0.0189
0.0574
0.0413
0.0569
Morningstar High Yield Bond Category Average
0.0196
0.0570
0.0389
0.0512
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>3,114,444,584<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">666<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">16<span>%</span></td> </tr> </table>
3114444584
666
0.16
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 4.625%-7.125%, due 8/15/28-7/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">CCO Holdings LLC, 4.25%-5.375%, due 5/1/27-1/15/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hilton Domestic Operating Co., Inc., 4.00%-6.125%, due 1/15/30-3/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Yum! Brands, Inc., 3.625%-6.875%, due 1/15/30-11/15/37</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Talen Energy Supply LLC, 5.644%-6.50%, due 5/1/31-2/1/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Churchill Downs, Inc., 4.75%-6.75%, due 4/1/27-5/1/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc., 5.75%-6.25%, due 2/1/33-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IHO Verwaltungs GmbH, 6.375%-8.00%, due 5/15/29-5/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">LifePoint Health, Inc., 5.375%-10.00%, due 1/15/29-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mineral Resources Ltd., 6.00%-9.25%, due 10/1/28-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
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<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">88.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Preferred Stock</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Bond</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
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<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 4.625%-7.125%, due 8/15/28-7/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">CCO Holdings LLC, 4.25%-5.375%, due 5/1/27-1/15/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hilton Domestic Operating Co., Inc., 4.00%-6.125%, due 1/15/30-3/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Yum! Brands, Inc., 3.625%-6.875%, due 1/15/30-11/15/37</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Talen Energy Supply LLC, 5.644%-6.50%, due 5/1/31-2/1/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Churchill Downs, Inc., 4.75%-6.75%, due 4/1/27-5/1/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc., 5.75%-6.25%, due 2/1/33-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IHO Verwaltungs GmbH, 6.375%-8.00%, due 5/15/29-5/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">LifePoint Health, Inc., 5.375%-10.00%, due 1/15/29-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mineral Resources Ltd., 6.00%-9.25%, due 10/1/28-5/1/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> </table>
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<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.025
0.017
0.014
0.013
0.012
0.011
0.010
0.010
0.010
0.009
0.884
0.054
0.009
0.005
0.002
0.046
NYLIM VP MacKay Strategic Bond Portfolio(formerly known as NYLI VP MacKay Strategic Bond Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_656_b4811b1b_b6d0_37eb_06e2_17be8a4e108f;">semiannual shareholder report</span> contains important information about NYLIM VP MacKay Strategic Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>33</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.65<span>%</span></td> </tr> </table>
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<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
33
0.0065
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472252.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4/29/2011</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.83<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.33<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.02<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.26<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Multisector Bond Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.99%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">2.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.77%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Multisector Bond Category Average is representative of funds that seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. These portfolios typically hold 35% to 65% of bonds assets in securities that are not rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB (considered speculative for taxable bonds) and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2011-04-29
0.0183
0.0533
0.0402
0.0426
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Morningstar Multisector Bond Category Average
0.0099
0.0531
0.0275
0.0377
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>521,477,172<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">525<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">41<span>%</span></td> </tr> </table>
521477172
525
0.41
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/15/29-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-5.083%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Connecticut Avenue Securities Trust, 5.328%-12.992%, due 11/25/39-2/25/45</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR REMIC Trust, 5.278%-12.128%, due 9/25/41-1/25/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Flagship Credit Auto Trust, 2.26%-5.80%, due 12/15/27-3/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR Trust, 8.542%-14.992%, due 9/25/47-4/25/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Multifamily Connecticut Avenue Securities Trust, 6.728%-11.242%, due 10/25/49-5/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Mortgage Trust, 2.773%-4.921%, due 9/15/33-2/10/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Exeter Automobile Receivables Trust, 5.57%-7.52%, due 10/15/29-6/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, (zero coupon)-3.50%, due 12/25/48-8/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">41.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">25.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Foreign Government Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(1.2<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/15/29-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-5.083%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Connecticut Avenue Securities Trust, 5.328%-12.992%, due 11/25/39-2/25/45</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR REMIC Trust, 5.278%-12.128%, due 9/25/41-1/25/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Flagship Credit Auto Trust, 2.26%-5.80%, due 12/15/27-3/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR Trust, 8.542%-14.992%, due 9/25/47-4/25/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Multifamily Connecticut Avenue Securities Trust, 6.728%-11.242%, due 10/25/49-5/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Mortgage Trust, 2.773%-4.921%, due 9/15/33-2/10/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Exeter Automobile Receivables Trust, 5.57%-7.52%, due 10/15/29-6/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, (zero coupon)-3.50%, due 12/25/48-8/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.054
0.037
0.030
0.019
0.016
0.016
0.013
0.013
0.012
0.011
0.417
0.259
0.123
0.072
0.058
0.050
0.033
-0.012
NYLIM VP MacKay Strategic Bond Portfolio(formerly known as NYLI VP MacKay Strategic Bond Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden:t_660_66676127_8234_d27e_37d8_8dc1a4f91ae5">semiannual shareholder report</span> contains important information about NYLIM VP MacKay Strategic Bond Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>45</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.90<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
45
0.0090
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472253.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4/29/2011</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.71<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.07<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.77<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.00<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Multisector Bond Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.99%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">2.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.77%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Multisector Bond Category Average is representative of funds that seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. These portfolios typically hold 35% to 65% of bonds assets in securities that are not rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB (considered speculative for taxable bonds) and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2011-04-29
0.0171
0.0507
0.0377
0.0400
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Morningstar Multisector Bond Category Average
0.0099
0.0531
0.0275
0.0377
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>521,477,172<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">525<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">41<span>%</span></td> </tr> </table>
521477172
525
0.41
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/15/29-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-5.083%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Connecticut Avenue Securities Trust, 5.328%-12.992%, due 11/25/39-2/25/45</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR REMIC Trust, 5.278%-12.128%, due 9/25/41-1/25/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Flagship Credit Auto Trust, 2.26%-5.80%, due 12/15/27-3/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR Trust, 8.542%-14.992%, due 9/25/47-4/25/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Multifamily Connecticut Avenue Securities Trust, 6.728%-11.242%, due 10/25/49-5/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Mortgage Trust, 2.773%-4.921%, due 9/15/33-2/10/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Exeter Automobile Receivables Trust, 5.57%-7.52%, due 10/15/29-6/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, (zero coupon)-3.50%, due 12/25/48-8/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">41.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">25.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Foreign Government Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(1.2<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/15/29-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-5.083%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Connecticut Avenue Securities Trust, 5.328%-12.992%, due 11/25/39-2/25/45</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR REMIC Trust, 5.278%-12.128%, due 9/25/41-1/25/50</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Flagship Credit Auto Trust, 2.26%-5.80%, due 12/15/27-3/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC STACR Trust, 8.542%-14.992%, due 9/25/47-4/25/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Multifamily Connecticut Avenue Securities Trust, 6.728%-11.242%, due 10/25/49-5/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Mortgage Trust, 2.773%-4.921%, due 9/15/33-2/10/49</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Exeter Automobile Receivables Trust, 5.57%-7.52%, due 10/15/29-6/15/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, (zero coupon)-3.50%, due 12/25/48-8/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.054
0.037
0.030
0.019
0.016
0.016
0.013
0.013
0.012
0.011
0.417
0.259
0.123
0.072
0.058
0.050
0.033
-0.012
NYLIM VP PIMCO Real Return Portfolio(formerly known as NYLI VP PIMCO Real Return Portfolio)
Initial Class
This <span><span><span><span><span><span><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_662_e5b94d8d_e43f_aae3_5e5a_078aca466673;">semiannual shareholder report</span></span></span></span></span></span></span></span></span> contains important information about NYLIM VP PIMCO Real Return Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>49</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.98<span>%</span></td> </tr> </table>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
49
0.0098
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472254.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.11<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.71<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.26<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.82<span>%</span></td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. TIPS Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.15%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.42%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.01%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.58%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Inflation-Protected Bond Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.98%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.03%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.27%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">2.17%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. TIPS Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, includes all publicly issued, U.S. Treasury inflation-protected securities that have at least one year remaining to maturity and are rated investment grade.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Inflation-Protected Bond Category Average is representative of funds that invest primarily in debt securities that adjust their principal values in line with the rate of inflation. These bonds can be issued by any organization, but the U.S. Treasury is currently the largest issuer for these types of securities. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2012-02-17
0.0111
0.0371
0.0126
0.0282
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Bloomberg U.S. TIPS Index
0.0115
0.0342
0.0101
0.0258
Morningstar Inflation-Protected Bond Category Average
0.0098
0.0303
0.0027
0.0217
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>396,640,254<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">459<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">71<span>%</span></td> </tr> </table>
396640254
459
0.71
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Notes, 0.125%-2.375%, due 4/15/27-1/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">75.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Bonds, 0.125%-3.375%, due 1/15/28-2/15/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">21.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, Single Family, 30 Year, 4.00%-6.00%, due 7/25/56-8/25/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 4.389%-4.926%, due 9/20/55-10/20/75</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 3.50%, due 3/20/52-3/20/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Italy Buoni Poliennali del Tesoro, 0.10%-1.80%, due 5/15/30-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, 4.107%-5.128%, due 7/15/44-8/15/57</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan Government CPI Linked Bond, 0.005%-0.10%, due 3/10/28-3/10/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">United Kingdom Gilt, 4.00%, due 10/22/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, 4.658%-6.207%, due 11/1/34-6/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">111.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Foreign Government Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments Sold Short</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(18.8<span>)</span><span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(16.1<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Notes, 0.125%-2.375%, due 4/15/27-1/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">75.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Bonds, 0.125%-3.375%, due 1/15/28-2/15/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">21.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, Single Family, 30 Year, 4.00%-6.00%, due 7/25/56-8/25/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 4.389%-4.926%, due 9/20/55-10/20/75</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 3.50%, due 3/20/52-3/20/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Italy Buoni Poliennali del Tesoro, 0.10%-1.80%, due 5/15/30-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, 4.107%-5.128%, due 7/15/44-8/15/57</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan Government CPI Linked Bond, 0.005%-0.10%, due 3/10/28-3/10/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">United Kingdom Gilt, 4.00%, due 10/22/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, 4.658%-6.207%, due 11/1/34-6/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.757
0.214
0.104
0.033
0.030
0.024
0.023
0.023
0.020
0.008
1.112
0.087
0.075
0.055
0.014
0.006
-0.188
-0.161
NYLIM VP PIMCO Real Return Portfolio(formerly known as NYLI VP PIMCO Real Return Portfolio)
Service Class
This <span title="element: B30%, context: 0%"><span class="sec-hidden" style="-sec-ix-hidden: t_660_68261eeb_f679_b86d_f8ec_e07cf9041f5a;">semiannual shareholder report</span></span> contains important information about NYLIM VP PIMCO Real Return Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>61</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.23<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
61
0.0123
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472255.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.99<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.45<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.00<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.56<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. TIPS Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.15%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.42%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.01%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.58%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Inflation-Protected Bond Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.98%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.03%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">0.27%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">2.17%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. TIPS Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, includes all publicly issued, U.S. Treasury inflation-protected securities that have at least one year remaining to maturity and are rated investment grade.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Inflation-Protected Bond Category Average is representative of funds that invest primarily in debt securities that adjust their principal values in line with the rate of inflation. These bonds can be issued by any organization, but the U.S. Treasury is currently the largest issuer for these types of securities. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2012-02-17
0.0099
0.0345
0.0100
0.0256
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Bloomberg U.S. TIPS Index
0.0115
0.0342
0.0101
0.0258
Morningstar Inflation-Protected Bond Category Average
0.0098
0.0303
0.0027
0.0217
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>396,640,254<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">459<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">71<span>%</span></td> </tr> </table>
396640254
459
0.71
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Notes, 0.125%-2.375%, due 4/15/27-1/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">75.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Bonds, 0.125%-3.375%, due 1/15/28-2/15/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">21.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, Single Family, 30 Year, 4.00%-6.00%, due 7/25/56-8/25/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 4.389%-4.926%, due 9/20/55-10/20/75</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 3.50%, due 3/20/52-3/20/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Italy Buoni Poliennali del Tesoro, 0.10%-1.80%, due 5/15/30-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, 4.107%-5.128%, due 7/15/44-8/15/57</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan Government CPI Linked Bond, 0.005%-0.10%, due 3/10/28-3/10/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">United Kingdom Gilt, 4.00%, due 10/22/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, 4.658%-6.207%, due 11/1/34-6/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">111.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Foreign Government Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments Sold Short</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(18.8<span>)</span><span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(16.1<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Notes, 0.125%-2.375%, due 4/15/27-1/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">75.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Inflation Linked Bonds, 0.125%-3.375%, due 1/15/28-2/15/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">21.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, Single Family, 30 Year, 4.00%-6.00%, due 7/25/56-8/25/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, 4.389%-4.926%, due 9/20/55-10/20/75</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA II, Single Family, 30 Year, 3.50%, due 3/20/52-3/20/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Italy Buoni Poliennali del Tesoro, 0.10%-1.80%, due 5/15/30-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FHLMC, 4.107%-5.128%, due 7/15/44-8/15/57</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan Government CPI Linked Bond, 0.005%-0.10%, due 3/10/28-3/10/35</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">United Kingdom Gilt, 4.00%, due 10/22/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">FNMA, 4.658%-6.207%, due 11/1/34-6/25/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.757
0.214
0.104
0.033
0.030
0.024
0.023
0.023
0.020
0.008
1.112
0.087
0.075
0.055
0.014
0.006
-0.188
-0.161
NYLIM VP Floating Rate Portfolio(formerly known as NYLI VP Floating Rate Portfolio)
Initial Class
This <span><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_661_3d463b27_ca4e_5a3b_67e8_0b3328314d67;">semiannual shareholder report</span></span></span></span> contains important information about NYLIM VP Floating Rate Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>32</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.64<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
32
0.0064
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472256.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/2/2005</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.14<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.63<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.17<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.73<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Morningstar LSTA US Leveraged Loan Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.36%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.01%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.50%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Bank Loan Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.36%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.53%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar LSTA US Leveraged Loan Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad index designed to reflect the performance of U.S. dollar facilities in the leveraged loan market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Bank Loan Category Average is representative of funds that invest in floating-rate bank loans instead of bonds. In exchange for their credit risk, these loans offer high interest payments that typically float above a common short-term benchmark. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2005-05-02
0.0114
0.0363
0.0517
0.0473
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Morningstar LSTA US Leveraged Loan Index
0.0131
0.0436
0.0601
0.0550
Morningstar Bank Loan Category Average
0.0136
0.0411
0.0511
0.0453
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,131,732,615<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">487<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">19<span>%</span></td> </tr> </table>
1131732615
487
0.19
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 5.894%-6.75%, due 3/22/30-1/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Univision Communications, Inc., 7.008%-8.50%, due 1/23/29-7/31/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">McAfee Corp., 6.644%, due 3/1/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hologic, Inc., 5.995%, due 4/7/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Indy US Holdco LLC, 5.894%, due 10/31/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Acrisure LLC, 6.644%-8.50%, due 2/1/29-6/21/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Clydesdale Acquisition Holdings, Inc., 6.75%-8.75%, due 4/13/29-4/15/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AthenaHealth Group, Inc., 6.894%, due 2/16/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asurion LLC, 7.413%-9.175%, due 1/19/29-2/23/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SCIH Salt Holdings, Inc., 6.35%, due 1/31/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Services: Business</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Finance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Chemicals, Plastics & Rubber</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronics</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">High Tech Industries</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Automobile</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">50.7<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 5.894%-6.75%, due 3/22/30-1/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Univision Communications, Inc., 7.008%-8.50%, due 1/23/29-7/31/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">McAfee Corp., 6.644%, due 3/1/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hologic, Inc., 5.995%, due 4/7/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Indy US Holdco LLC, 5.894%, due 10/31/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Acrisure LLC, 6.644%-8.50%, due 2/1/29-6/21/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Clydesdale Acquisition Holdings, Inc., 6.75%-8.75%, due 4/13/29-4/15/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AthenaHealth Group, Inc., 6.894%, due 2/16/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asurion LLC, 7.413%-9.175%, due 1/19/29-2/23/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SCIH Salt Holdings, Inc., 6.35%, due 1/31/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.010
0.008
0.008
0.008
0.007
0.007
0.007
0.007
0.007
0.006
0.075
0.075
0.055
0.054
0.045
0.044
0.038
0.037
0.035
0.035
0.507
NYLIM VP Floating Rate Portfolio(formerly known as NYLI VP Floating Rate Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_655_b4c146f6_2857_d227_5f61_182b790611fb;">semiannual shareholder report</span> contains important information about NYLIM VP Floating Rate Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>44</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.89<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
44
0.0089
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472257.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/2/2005</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.01<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.37<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.90<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.46<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Morningstar LSTA US Leveraged Loan Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.36%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.01%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.50%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Bank Loan Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.36%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.53%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar LSTA US Leveraged Loan Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad index designed to reflect the performance of U.S. dollar facilities in the leveraged loan market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Bank Loan Category Average is representative of funds that invest in floating-rate bank loans instead of bonds. In exchange for their credit risk, these loans offer high interest payments that typically float above a common short-term benchmark. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2005-05-02
0.0101
0.0337
0.0490
0.0446
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Morningstar LSTA US Leveraged Loan Index
0.0131
0.0436
0.0601
0.0550
Morningstar Bank Loan Category Average
0.0136
0.0411
0.0511
0.0453
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,131,732,615<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">487<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">19<span>%</span></td> </tr> </table>
1131732615
487
0.19
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 5.894%-6.75%, due 3/22/30-1/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Univision Communications, Inc., 7.008%-8.50%, due 1/23/29-7/31/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">McAfee Corp., 6.644%, due 3/1/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hologic, Inc., 5.995%, due 4/7/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Indy US Holdco LLC, 5.894%, due 10/31/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Acrisure LLC, 6.644%-8.50%, due 2/1/29-6/21/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Clydesdale Acquisition Holdings, Inc., 6.75%-8.75%, due 4/13/29-4/15/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AthenaHealth Group, Inc., 6.894%, due 2/16/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asurion LLC, 7.413%-9.175%, due 1/19/29-2/23/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SCIH Salt Holdings, Inc., 6.35%, due 1/31/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Services: Business</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Finance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Chemicals, Plastics & Rubber</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronics</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">High Tech Industries</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Automobile</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">50.7<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">TransDigm, Inc., 5.894%-6.75%, due 3/22/30-1/31/34</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Univision Communications, Inc., 7.008%-8.50%, due 1/23/29-7/31/31</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">McAfee Corp., 6.644%, due 3/1/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hologic, Inc., 5.995%, due 4/7/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Indy US Holdco LLC, 5.894%, due 10/31/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Acrisure LLC, 6.644%-8.50%, due 2/1/29-6/21/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Clydesdale Acquisition Holdings, Inc., 6.75%-8.75%, due 4/13/29-4/15/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AthenaHealth Group, Inc., 6.894%, due 2/16/32</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asurion LLC, 7.413%-9.175%, due 1/19/29-2/23/33</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SCIH Salt Holdings, Inc., 6.35%, due 1/31/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.010
0.008
0.008
0.008
0.007
0.007
0.007
0.007
0.007
0.006
0.075
0.075
0.055
0.054
0.045
0.044
0.038
0.037
0.035
0.035
0.507
NYLIM VP U.S. Government Money Market Portfolio(formerly known as NYLI VP U.S. Government Money Market Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_133_1b75b2cd_8cff_4cb5_26e6_82fffa412b69;">semiannual shareholder report</span> contains important information about NYLIM VP U.S. Government Money Market Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>14</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.28<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
14
0.0028
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective August 26, 2016 and October 14, 2016, the Portfolio modified its principal investment strategies in connection with commencing operations as a “government money market fund.” Consequently the performance information below may have been different if the current investment strategies had been in effect during the period prior to the Portfolio commencing operations as a “government money market fund.” For certain periods, the Manager voluntarily has waived or reimbursed the Portfolio’s expenses to the extent it deemed appropriate to enhance the Portfolio's yield during periods when expenses had a significant impact on yield because of low interest rates. Without these waivers or reimbursements, the Portfolio’s returns would have been lower.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472258.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1/29/1993</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.70<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.70<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.36<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.06<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Average Lipper Variable Products U.S. Government Money Market Portfolio<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.55%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.24%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.99%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Prime Money Market Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">1.65%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.64%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">2.16%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Average Lipper Variable Products U.S. Government Money Market Portfolio is an equally weighted performance average consisting of funds that invest 99.5% of their assets in cash, government securities and/or repurchase agreements that are collateralized solely by government securities or cash, and have a weighted average maturity of 60 days or less. These funds intend to keep a constant net asset value.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Prime Money Market Category Average is representative of funds that invest in short-term money market securities in order to provide a level of current income that is consistent with the preservation of capital. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1993-01-29
0.0170
0.0370
0.0336
0.0206
Average Lipper Variable Products U.S. Government Money Market Portfolio
0.0162
0.0355
0.0324
0.0199
Morningstar Prime Money Market Category Average
0.0165
0.0364
0.0334
0.0216
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>814,089,896</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">31</td> </tr> </table>
814089896
31
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The table below shows the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; padding: 6pt 3pt 3pt 3pt;">Government Agency Debt</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">37.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; padding: 6pt 3pt 3pt 3pt;">Treasury Debt</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; padding: 6pt 3pt 3pt 3pt;">Treasury Repurchase Agreements</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(0.0<span>)</span><span>%</span><sup style="font-size: 10px;">‡</sup></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">‡ <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt; display: inline; padding-left: 6pt;">Less than one-tenth of a percent.</div> </td> </tr> </table>
0.379
0.311
0.310
-0.000
NYLIM VP Moderate Allocation Portfolio(formerly known as NYLI VP Moderate Allocation Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_140_0baf8aa2_f4e3_c50d_0453_918a64eb5e97;">semiannual shareholder report</span></span> contains important information about NYLIM VP Moderate Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>2</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.03<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
2
0.0003
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472259.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.44<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.41<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.80<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.58<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Moderate Allocation Composite Index<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.38%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.52%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.49%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.15%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderate Allocation Category Average<sup style="font-size: 10px;">7</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.07%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.58%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">7.55%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Moderate Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 45%,15% and 40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">7.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2006-02-13
0.0844
0.1541
0.0580
0.0758
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Moderate Allocation Composite Index
0.0638
0.1452
0.0749
0.0915
Morningstar Global Moderate Allocation Category Average
0.0807
0.1658
0.0647
0.0755
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>661,134,675<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">44<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">18<span>%</span></td> </tr> </table>
661134675
44
0.18
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">56.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Fixed Income Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">33.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.1<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.5<span>%</span></td> </tr> </table>
0.569
0.335
0.091
0.005
NYLIM VP Moderate Allocation Portfolio(formerly known as NYLI VP Moderate Allocation Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_165_ea5233dc_fadc_29bf_d166_51d3c2e1bc0f;">semiannual shareholder report</span> contains important information about NYLIM VP Moderate Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>15</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.28<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
15
0.0028
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472260.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.31<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.12<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.53<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.31<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Moderate Allocation Composite Index<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.38%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.52%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.49%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.15%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderate Allocation Category Average<sup style="font-size: 10px;">7</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.07%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.58%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">7.55%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Moderate Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 45%,15% and 40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">7.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2006-02-13
0.0831
0.1512
0.0553
0.0731
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Moderate Allocation Composite Index
0.0638
0.1452
0.0749
0.0915
Morningstar Global Moderate Allocation Category Average
0.0807
0.1658
0.0647
0.0755
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>661,134,675<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">44<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">18<span>%</span></td> </tr> </table>
661134675
44
0.18
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">56.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Fixed Income Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">33.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.1<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.5<span>%</span></td> </tr> </table>
0.569
0.335
0.091
0.005
NYLIM VP Growth Allocation Portfolio(formerly known as NYLI VP Growth Allocation Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_173_6fb45be1_ec37_a44e_a722_d319f41636f0;">semiannual shareholder report</span> contains important information about NYLIM VP Growth Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>2</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.03<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
2
0.0003
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472261.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.88<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">19.46<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.31<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.39<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Growth Allocation Composite Index<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.25%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.20%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.95%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.64%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderately Aggressive Allocation Category Average<sup style="font-size: 10px;">7</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">19.63%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.02%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.51%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Growth Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%, 20% and 20%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">7.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Moderately Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately aggressive strategies prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure between 70% and 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2006-02-13
0.1088
0.1946
0.0731
0.0939
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Growth Allocation Composite Index
0.0825
0.1820
0.0995
0.1164
Morningstar Global Moderately Aggressive Allocation Category Average
0.1012
0.1963
0.0802
0.0951
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>993,953,411<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">44<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">16<span>%</span></td> </tr> </table>
993953411
44
0.16
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">77.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Fixed Income Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">13.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.8<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr> </table>
0.773
0.137
0.088
0.002
NYLIM VP Growth Allocation Portfolio(formerly known as NYLI VP Growth Allocation Portfolio)
Service Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_177_fa8ee299_92e6_8033_fa51_035537e688cb;">semiannual shareholder report</span></span> contains important information about NYLIM VP Growth Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>15</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.28<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
15
0.0028
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472262.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.74<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">19.16<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.05<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.12<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Growth Allocation Composite Index<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.25%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.20%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.95%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.64%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderately Aggressive Allocation Category Average<sup style="font-size: 10px;">7</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">19.63%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.02%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.51%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Growth Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%, 20% and 20%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">7.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Moderately Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately aggressive strategies prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure between 70% and 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2006-02-13
0.1074
0.1916
0.0705
0.0912
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Growth Allocation Composite Index
0.0825
0.1820
0.0995
0.1164
Morningstar Global Moderately Aggressive Allocation Category Average
0.1012
0.1963
0.0802
0.0951
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>993,953,411<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">44<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">16<span>%</span></td> </tr> </table>
993953411
44
0.16
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">77.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Fixed Income Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">13.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.8<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr> </table>
0.773
0.137
0.088
0.002
NYLIM VP Conservative Allocation Portfolio(formerly known as NYLI VP Conservative Allocation Portfolio)
Initial Class
This <span><span><span><span><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_190_9b53f8f2_9a1c_d5d5_4c65_750f505702be;">semiannual shareholder report</span></span></span></span></span></span></span> contains important information about NYLIM VP Conservative Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>2</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.04<span>%</span></td> </tr> </table>
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<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
2
0.0004
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472263.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.34<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.03<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.27<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.77<span>%</span></td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Conservative Allocation Composite Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.48%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.03%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.63%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderately Conservative Allocation Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.96%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">12.32%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.68%</td> </tr> </table>
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<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Conservative Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Bloomberg U.S. Aggregate Bond Index, the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) weighted 60%, 30% and 10%,respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Moderately Conservative Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately conservative strategies prioritize preservation of capital over appreciation. They typically expect volatility similar to a strategic equity exposure between 30% and 50%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2006-02-13
0.0634
0.1203
0.0427
0.0577
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Conservative Allocation Composite Index
0.0448
0.1089
0.0503
0.0663
Morningstar Global Moderately Conservative Allocation Category Average
0.0596
0.1232
0.0431
0.0568
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>346,044,046<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">42<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">17<span>%</span></td> </tr> </table>
346044046
42
0.17
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">36.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Fixed Income Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">53.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.3<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
0.366
0.533
0.093
0.008
NYLIM VP Conservative Allocation Portfolio(formerly known as NYLI VP Conservative Allocation Portfolio)
Service Class
This <span><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_200_8deb3494_7951_63e9_fdf9_b9677bfd7026;">semiannual shareholder report</span></span></span></span> contains important information about NYLIM VP Conservative Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>15</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.29<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
15
0.0029
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472264.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.21<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.75<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.01<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.50<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Conservative Allocation Composite Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.48%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.03%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.63%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderately Conservative Allocation Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.96%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">12.32%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.68%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Conservative Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Bloomberg U.S. Aggregate Bond Index, the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) weighted 60%, 30% and 10%,respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Moderately Conservative Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately conservative strategies prioritize preservation of capital over appreciation. They typically expect volatility similar to a strategic equity exposure between 30% and 50%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2006-02-13
0.0621
0.1175
0.0401
0.0550
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Conservative Allocation Composite Index
0.0448
0.1089
0.0503
0.0663
Morningstar Global Moderately Conservative Allocation Category Average
0.0596
0.1232
0.0431
0.0568
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>346,044,046<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">42<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">17<span>%</span></td> </tr> </table>
346044046
42
0.17
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">36.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Fixed Income Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">53.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.3<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr> </table>
0.366
0.533
0.093
0.008
NYLIM VP Equity Allocation Portfolio(formerly known as NYLI VP Equity Allocation Portfolio)
Initial Class
This <span title="element: B30%, context: 0%"><span><span><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_209_ef795ce7_f9b3_f936_f372_859853e07112;">semiannual shareholder report</span></span></span></span></span></span> contains important information about NYLIM VP Equity Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>2</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.03<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
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<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
2
0.0003
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472265.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.20<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.95<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.06<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.74<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Equity Allocation Composite Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.93%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.10%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Aggressive Allocation Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.84%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.53%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.04%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Equity Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) weighted 75% and 25%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These aggressive strategies typically allocate at least 10% to equities of foreign companies and prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure of more than 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2006-02-13
0.1320
0.2295
0.0806
0.1074
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Equity Allocation Composite Index
0.1011
0.2193
0.1241
0.1410
Morningstar Global Aggressive Allocation Category Average
0.1084
0.2047
0.0853
0.1104
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>724,329,281<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">35<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">13<span>%</span></td> </tr> </table>
724329281
35
0.13
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">97.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr> </table>
0.977
0.021
0.002
NYLIM VP Equity Allocation Portfolio(formerly known as NYLI VP Equity Allocation Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_217_5a497b9e_8d13_cc5f_6bfa_38f2230f5fd3;">semiannual shareholder report</span> contains important information about NYLIM VP Equity Allocation Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>15</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.28<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: italic; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Times New Roman'; font-style: italic; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; text-align: left; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
15
0.0028
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472266.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/13/2006</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.06<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.65<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.79<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.47<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Equity Allocation Composite Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.93%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.10%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Aggressive Allocation Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.84%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.53%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.04%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Equity Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) weighted 75% and 25%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; width: 18pt; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Global Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These aggressive strategies typically allocate at least 10% to equities of foreign companies and prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure of more than 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2006-02-13
0.1306
0.2265
0.0779
0.1047
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Equity Allocation Composite Index
0.1011
0.2193
0.1241
0.1410
Morningstar Global Aggressive Allocation Category Average
0.1084
0.2047
0.0853
0.1104
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;"><br/>Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>724,329,281<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">35<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; width: 80%; font-weight: normal; font-family: 'Arial'; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">13<span>%</span></td> </tr> </table>
724329281
35
0.13
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Asset Diversification <br/>(as a Percentage of Net Asset Value)</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">97.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Short-Term Investment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr> </table>
0.977
0.021
0.002
NYLIM VP Schroders Mid Cap Opportunities Portfolio(formerly known as NYLI VP Schroders Mid Cap Opportunities Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_663_09bfcae6_d8a6_026c_1e5e_aed469a11229;">semiannual shareholder report</span> contains important information about NYLIM VP Schroders Mid Cap Opportunities Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>45</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.83<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
45
0.0083
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced its subadvisor and modified its principal investment strategies. Effective August 12, 2024, the Portfolio again replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472303.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7/2/2001</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.64<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">28.98<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.52<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.95<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell Midcap<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.63%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.00%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">25.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.07%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.65%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Mid-Cap Blend Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">15.88%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">23.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.80%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.52%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell Midcap<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the mid-cap segment of the U.S. equity universe. The Russell Midcap<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is a subset of the Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and includes approximately 800 of the smallest companies based on a combination of their market cap and current index membership. The Russell Midcap<sup style="font-size: 10px; vertical-align: top;">®</sup> Index represents approximately 27% of the total market capitalization of the Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P MidCap 400<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market capitalization-weighted index of common stocks representing the mid-cap U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Mid-Cap Blend Category Average is representative of funds that invest primarily in U.S. stocks of various sizes and styles, giving it a middle-of-the-road profile. The U.S. mid-cap range for market capitalization typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2001-07-02
0.1864
0.2898
0.0552
0.0895
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell Midcap®Index
0.1530
0.2163
0.0850
0.1200
S&P MidCap 400®Index
0.1734
0.2589
0.0907
0.1165
Morningstar Mid-Cap Blend Category Average
0.1588
0.2375
0.0880
0.1152
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>724,254,861<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">74<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">39<span>%</span></td> </tr> </table>
724254861
74
0.39
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Aramark</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bio-Techne Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Assurant, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">West Pharmaceutical Services, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mettler-Toledo International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Burlington Stores, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Snowflake, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">BWX Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TechnipFMC plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keysight Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hotels, Restaurants & Leisure</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Life Sciences Tools & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Services & Supplies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IT Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Building Products</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Professional Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">46.3<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Aramark</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bio-Techne Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Assurant, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">West Pharmaceutical Services, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mettler-Toledo International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Burlington Stores, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Snowflake, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">BWX Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TechnipFMC plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keysight Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.027
0.022
0.021
0.021
0.020
0.019
0.018
0.018
0.018
0.018
0.107
0.062
0.062
0.053
0.052
0.048
0.044
0.040
0.036
0.033
0.463
NYLIM VP Schroders Mid Cap Opportunities Portfolio(formerly known as NYLI VP Schroders Mid Cap Opportunities Portfolio)
Service Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_668_123ae8a7_80c4_a5bb_50db_0717d8355af4;">semiannual shareholder report</span></span> contains important information about NYLIM VP Schroders Mid Cap Opportunities Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>59</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.08<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
59
0.0108
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced its subadvisor and modified its principal investment strategies. Effective August 12, 2024, the Portfolio again replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472304.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/5/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.49<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">28.66<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.25<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.68<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell Midcap<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.63%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.00%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">25.89%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.07%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.65%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Mid-Cap Blend Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">15.88%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">23.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.80%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.52%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell Midcap<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the mid-cap segment of the U.S. equity universe. The Russell Midcap<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is a subset of the Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and includes approximately 800 of the smallest companies based on a combination of their market cap and current index membership. The Russell Midcap<sup style="font-size: 10px; vertical-align: top;">®</sup> Index represents approximately 27% of the total market capitalization of the Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P MidCap 400<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market capitalization-weighted index of common stocks representing the mid-cap U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Mid-Cap Blend Category Average is representative of funds that invest primarily in U.S. stocks of various sizes and styles, giving it a middle-of-the-road profile. The U.S. mid-cap range for market capitalization typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-05
0.1849
0.2866
0.0525
0.0868
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell Midcap®Index
0.1530
0.2163
0.0850
0.1200
S&P MidCap 400®Index
0.1734
0.2589
0.0907
0.1165
Morningstar Mid-Cap Blend Category Average
0.1588
0.2375
0.0880
0.1152
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>724,254,861<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">74<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">39<span>%</span></td> </tr> </table>
724254861
74
0.39
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Aramark</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bio-Techne Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Assurant, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">West Pharmaceutical Services, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mettler-Toledo International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Burlington Stores, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Snowflake, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">BWX Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TechnipFMC plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keysight Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hotels, Restaurants & Leisure</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Life Sciences Tools & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Services & Supplies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IT Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Building Products</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Professional Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">46.3<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Aramark</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bio-Techne Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Assurant, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">West Pharmaceutical Services, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mettler-Toledo International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Burlington Stores, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Snowflake, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">BWX Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TechnipFMC plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keysight Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.027
0.022
0.021
0.021
0.020
0.019
0.018
0.018
0.018
0.018
0.107
0.062
0.062
0.053
0.052
0.048
0.044
0.040
0.036
0.033
0.463
NYLIM VP American Century Large Cap Equity Portfolio(formerly known as NYLI VP American Century Sustainable Equity Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_669_83f20f70_f9d9_5151_b7e5_14dd5e31b22d;">semiannual shareholder report</span></span> contains important information about NYLIM VP American Century Large Cap Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>35</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.68<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
35
0.0068
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2022, the Portfolio replaced its subadvisor, changed its investment objective and modified its principal investment strategies. Effective May 1, 2026, the Portfolio modified it's principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisor, investment objective and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472275.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.53<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.75<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.80<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.98<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.48%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.47%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2012-02-17
0.0753
0.1675
0.1180
0.1198
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Blend Category Average
0.0974
0.2121
0.1048
0.1147
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>336,512,063<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">109<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">9<span>%</span></td> </tr> </table>
336512063
109
0.09
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">20.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Specialty Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">38.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.080
0.065
0.055
0.049
0.034
0.033
0.021
0.018
0.016
0.016
0.200
0.090
0.080
0.057
0.043
0.034
0.033
0.031
0.027
0.024
0.381
NYLIM VP American Century Large Cap Equity Portfolio(formerly known as NYLI VP American Century Sustainable Equity Portfolio)
Service Class
This <span><span><span class="sec-hidden" style="-sec-ix-hidden: t_670_0167de6a_7bb4_79a0_1b31_1d24a8e9ec71;">semiannual shareholder report</span></span></span> contains important information about NYLIM VP American Century Large Cap Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>48</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.93<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
48
0.0093
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2022, the Portfolio replaced its subadvisor, changed its investment objective and modified its principal investment strategies. Effective May 1, 2026, the Portfolio modified it's principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisor, investment objective and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472276.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.40<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.46<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.52<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.70<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.48%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.47%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2012-02-17
0.0740
0.1646
0.1152
0.1170
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Blend Category Average
0.0974
0.2121
0.1048
0.1147
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>336,512,063<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">109<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">9<span>%</span></td> </tr> </table>
336512063
109
0.09
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">20.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Specialty Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">38.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.080
0.065
0.055
0.049
0.034
0.033
0.021
0.018
0.016
0.016
0.200
0.090
0.080
0.057
0.043
0.034
0.033
0.031
0.027
0.024
0.381
NYLIM VP Balanced Portfolio(formerly known as NYLI VP Balanced Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_673_8a645ac5_ffb9_cc3e_9d7c_63ce6b4d7b72;">semiannual shareholder report</span></span> contains important information about NYLIM VP Balanced Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>36</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.70<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
36
0.0070
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio's equity subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced the subadvisor to the equity portion of the Portfolio and modified the equity portion of the Portfolio's principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisor and principal investment strategies for the equity portion of the Portfolio.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472295.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/2/2005</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.15<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.04<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.14<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.33<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup> Value Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">27.09%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.17%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.52%</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Intermediate Government/Credit Bond Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.40%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.13%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.22%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.92%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Balanced Composite Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.76%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.07%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.88%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Moderate Allocation Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.91%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.28%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.64%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with lower price-to-book ratios and lower expected growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Intermediate Government/Credit Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of U.S. dollar-denominated U.S. treasuries, government-related and investment grade U.S. corporate securities that have a remaining maturity of greater than one year and less than ten years.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Value Index and the Bloomberg U.S. Intermediate Government/Credit Bond Index weighted 60%/40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2005-05-02
0.0515
0.1204
0.0614
0.0733
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Value Index
0.1623
0.2709
0.1117
0.1152
Bloomberg U.S. Intermediate Government/Credit Bond Index
0.0040
0.0313
0.0122
0.0192
Balanced Composite Index
0.0976
0.1707
0.0730
0.0788
Morningstar Moderate Allocation Category Average
0.0691
0.1428
0.0674
0.0864
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>347,843,282<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">257<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">70<span>%</span></td> </tr> </table>
347843282
257
0.70
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Intermediate Government/Credit Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Intermediate-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Merck & Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Russell 1000 Value ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">UnitedHealth Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">61.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Exchange-Traded Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Intermediate Government/Credit Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Intermediate-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Merck & Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Russell 1000 Value ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">UnitedHealth Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.112
0.039
0.036
0.034
0.022
0.018
0.016
0.015
0.014
0.014
0.619
0.115
0.103
0.090
0.030
0.025
0.007
0.011
NYLIM VP Balanced Portfolio(formerly known as NYLI VP Balanced Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_663_b0967fa1_4182_f195_5125_7142f0f374c8;">semiannual shareholder report</span> contains important information about NYLIM VP Balanced Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'Arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>48</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.95<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.</div> </td> </tr> </table>
48
0.0095
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio's equity subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced the subadvisor to the equity portion of the Portfolio and modified the equity portion of the Portfolio's principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisor and principal investment strategies for the equity portion of the Portfolio.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472296.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/2/2005</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.02<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.76<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.87<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.06<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup><span style="white-space: nowrap;">Index</span><sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup> Value <span style="white-space: nowrap;">Index</span><sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">27.09%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.17%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.52%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Intermediate Government/Credit Bond <span style="white-space: nowrap;">Index</span><sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.40%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.13%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.22%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.92%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Balanced Composite <span style="white-space: nowrap;">Index</span><sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.76%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.07%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.88%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Moderate Allocation Category <span style="white-space: nowrap;">Average</span><sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.91%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.28%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.64%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with lower price-to-book ratios and lower expected growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Intermediate Government/Credit Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of U.S. dollar-denominated U.S. treasuries, government-related and investment grade U.S. corporate securities that have a remaining maturity of greater than one year and less than ten years.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Value Index and the Bloomberg U.S. Intermediate Government/Credit Bond Index weighted 60%/40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2005-05-02
0.0502
0.1176
0.0587
0.0706
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Value Index
0.1623
0.2709
0.1117
0.1152
Bloomberg U.S. Intermediate Government/Credit Bond Index
0.0040
0.0313
0.0122
0.0192
Balanced Composite Index
0.0976
0.1707
0.0730
0.0788
Morningstar Moderate Allocation Category Average
0.0691
0.1428
0.0674
0.0864
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>347,843,282<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">257<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">70<span>%</span></td> </tr> </table>
347843282
257
0.70
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Intermediate Government/Credit Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Intermediate-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Merck & Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Russell 1000 Value ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">UnitedHealth Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">61.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Exchange-Traded Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Intermediate Government/Credit Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Intermediate-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Merck & Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Russell 1000 Value ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">UnitedHealth Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.112
0.039
0.036
0.034
0.022
0.018
0.016
0.015
0.014
0.014
0.619
0.115
0.103
0.090
0.030
0.025
0.007
0.011
NYLIM VP CBRE Global Infrastructure Portfolio(formerly known as NYLI VP CBRE Global Infrastructure Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_270_293b1c1f_2441_059c_263a_d294239d63f5;">semiannual shareholder report</span> contains important information about NYLIM VP CBRE Global Infrastructure Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>50</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.95<span>%</span></td> </tr> </table>
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<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
50
0.0095
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective February 28, 2020, the Portfolio replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472279.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/2015</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.51<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.52<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.25<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.88<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI World Index <span style="white-space: nowrap;">(Net)</span><sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">FTSE Global Core Infrastructure 50/50 Index <span style="white-space: nowrap;">(Net)</span><sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.66%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.78%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.65%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.47%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Infrastructure Category <span style="white-space: nowrap;">Average</span><sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">19.14%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.38%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The FTSE Global Core Infrastructure 50/50 Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization-weighted index of worldwide infrastructure and infrastructure-related securities. Constituent weights are adjusted semi-annually according to three broad industry sectors: 50% utilities, 30% transportation, and a 20% mix of other sectors.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Infrastructure Category Average is representative of funds that invest more than 60% of their assets in stocks of companies engaged in infrastructure activities. Industries considered to be part of the infrastructure sector include: oil & gas midstream; waste management; airports; integrated shipping; railroads; shipping & ports; trucking; engineering & construction; infrastructure operations; and the utilities sector. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2015-05-01
0.0951
0.1452
0.0725
0.0288
MSCI World Index (Net)
0.0969
0.2134
0.1147
0.1314
FTSE Global Core Infrastructure 50/50 Index (Net)
0.1066
0.1578
0.0765
0.0747
Morningstar Infrastructure Category Average
0.1408
0.1914
0.0912
0.0838
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>48,315,726<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">47<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">45<span>%</span></td> </tr> </table>
48315726
47
0.45
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Canadian National Railway Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Ferrovial NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Enbridge, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SSE plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Atmos Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">PPL Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Tower Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vinci SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Countries</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United States</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">56.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Canada</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Spain</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United Kingdom</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Germany</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mexico</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">France</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New Zealand</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Italy</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(0.0<span>)</span><span>%</span><sup style="font-size: 10px;">‡</sup></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">‡ <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt; display: inline; padding-left: 4pt;">Less than one-tenth of a percent.</div> </td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Canadian National Railway Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Ferrovial NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Enbridge, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SSE plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Atmos Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">PPL Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Tower Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vinci SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.050
0.048
0.045
0.044
0.043
0.042
0.041
0.040
0.039
0.037
0.568
0.113
0.070
0.069
0.046
0.042
0.037
0.026
0.017
0.012
-0.000
NYLIM VP CBRE Global Infrastructure Portfolio(formerly known as NYLI VP CBRE Global Infrastructure Portfolio)
Service Class
This <span title="element: B30%, context: 0%"><span class="sec-hidden" style="-sec-ix-hidden: t_673_25aa8b33_af21_81ee_edde_4218e583487a;">semiannual shareholder report</span></span> contains important information about NYLIM VP CBRE Global Infrastructure Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>62</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.20<span>%</span></td> </tr> </table>
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<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
62
0.0120
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective February 28, 2020, the Portfolio replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472280.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/2015</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.38<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.23<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.98<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.62<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI World Index (Net)<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">FTSE Global Core Infrastructure 50/50 Index (Net)<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.66%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.78%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.65%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.47%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Infrastructure Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">19.14%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.38%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The FTSE Global Core Infrastructure 50/50 Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization-weighted index of worldwide infrastructure and infrastructure-related securities. Constituent weights are adjusted semi-annually according to three broad industry sectors: 50% utilities, 30% transportation, and a 20% mix of other sectors.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Infrastructure Category Average is representative of funds that invest more than 60% of their assets in stocks of companies engaged in infrastructure activities. Industries considered to be part of the infrastructure sector include: oil & gas midstream; waste management; airports; integrated shipping; railroads; shipping & ports; trucking; engineering & construction; infrastructure operations; and the utilities sector. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2015-05-01
0.0938
0.1423
0.0698
0.0262
MSCI World Index (Net)
0.0969
0.2134
0.1147
0.1314
FTSE Global Core Infrastructure 50/50 Index (Net)
0.1066
0.1578
0.0765
0.0747
Morningstar Infrastructure Category Average
0.1408
0.1914
0.0912
0.0838
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>48,315,726<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">47<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">45<span>%</span></td> </tr> </table>
48315726
47
0.45
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Canadian National Railway Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Ferrovial NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Enbridge, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SSE plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Atmos Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">PPL Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Tower Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vinci SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Countries</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United States</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">56.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Canada</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Spain</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United Kingdom</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Germany</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mexico</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">France</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">New Zealand</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Italy</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(0.0<span>)</span><span>%</span><sup style="font-size: 10px;">‡</sup></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">‡ <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt; display: inline; padding-left: 4pt;">Less than one-tenth of a percent.</div> </td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Canadian National Railway Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Ferrovial NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Enbridge, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SSE plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Atmos Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">PPL Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Tower Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vinci SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.050
0.048
0.045
0.044
0.043
0.042
0.041
0.040
0.039
0.037
0.568
0.113
0.070
0.069
0.046
0.042
0.037
0.026
0.017
0.012
-0.000
NYLIM VP Candriam Emerging Markets Equity Portfolio(formerly known as NYLI VP Candriam Emerging Markets Equity Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden:t_666_3d0456ad_6847_5318_859e_f5d311cd385f">semiannual shareholder report</span></span> contains important information about NYLIM VP Candriam Emerging Markets Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div><div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>67</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.17<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
67
0.0117
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. One of the Portfolio's subadvisors changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced one of its subadvisors and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472299.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">30.64<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">56.68<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.25<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.13<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI Emerging Markets Index (Net)<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">23.85%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">43.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.20%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.07%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Diversified Emerging Markets Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">24.19%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">41.91%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.65%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.33%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected MSCI Emerging Markets Index (Net), which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Diversified Emerging Markets Category Average is representative of funds that tend to divide their assets among 20 or more nations, although they tend to focus on the emerging markets of Asia and Latin America rather than on those of the Middle East, Africa, or Europe. These funds invest predominantly in emerging market equities, but some funds also invest in both equities and fixed income investments from emerging markets. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2012-02-17
0.3064
0.5668
0.0625
0.1013
MSCI Emerging Markets Index (Net)
0.2385
0.4351
0.0720
0.1007
Morningstar Diversified Emerging Markets Category Average
0.2419
0.4191
0.0665
0.0933
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>234,669,418<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">116<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">81<span>%</span></td> </tr> </table>
234669418
116
0.81
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Samsung Electronics Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK hynix, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK Square Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tencent Holdings Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MediaTek, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Yageo Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASE Technology Holding Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Delta Electronics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Countries</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Taiwan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">26.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Republic of Korea</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">25.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">China</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">20.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">India</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Brazil</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Argentina</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Turkey</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Peru</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">South Africa</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Saudi Arabia</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Samsung Electronics Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK hynix, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK Square Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tencent Holdings Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MediaTek, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Yageo Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASE Technology Holding Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Delta Electronics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.097
0.092
0.042
0.040
0.028
0.024
0.017
0.014
0.013
0.013
0.264
0.250
0.202
0.110
0.023
0.018
0.015
0.014
0.012
0.011
0.081
NYLIM VP Candriam Emerging Markets Equity Portfolio(formerly known as NYLI VP Candriam Emerging Markets Equity Portfolio)
Service Class
This <span><span><span class="sec-hidden" style="-sec-ix-hidden: t_672_eb413f33_5d71_160a_dcaf_5638af3886d6;">semiannual shareholder report</span></span></span> contains important information about NYLIM VP Candriam Emerging Markets Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>81</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.42<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
81
0.0142
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. One of the Portfolio's subadvisors changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced one of its subadvisors and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472300.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">30.48<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">56.29<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.98<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.86<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI Emerging Markets Index (Net)<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">23.85%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">43.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.20%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.07%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Diversified Emerging Markets Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">24.19%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">41.91%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.65%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.33%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected MSCI Emerging Markets Index (Net), which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Diversified Emerging Markets Category Average is representative of funds that tend to divide their assets among 20 or more nations, although they tend to focus on the emerging markets of Asia and Latin America rather than on those of the Middle East, Africa, or Europe. These funds invest predominantly in emerging market equities, but some funds also invest in both equities and fixed income investments from emerging markets. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2012-02-17
0.3048
0.5629
0.0598
0.0986
MSCI Emerging Markets Index (Net)
0.2385
0.4351
0.0720
0.1007
Morningstar Diversified Emerging Markets Category Average
0.2419
0.4191
0.0665
0.0933
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>234,669,418<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">116<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">81<span>%</span></td> </tr> </table>
234669418
116
0.81
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Samsung Electronics Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK hynix, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK Square Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tencent Holdings Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MediaTek, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Yageo Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASE Technology Holding Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Delta Electronics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Countries</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Taiwan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">26.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Republic of Korea</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">25.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">China</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">20.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">India</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Brazil</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Argentina</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Turkey</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Peru</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">South Africa</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Saudi Arabia</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Samsung Electronics Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK hynix, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK Square Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tencent Holdings Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MediaTek, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SK, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Yageo Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASE Technology Holding Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Delta Electronics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.097
0.092
0.042
0.040
0.028
0.024
0.017
0.014
0.013
0.013
0.264
0.250
0.202
0.110
0.023
0.018
0.015
0.014
0.012
0.011
0.081
NYLIM VP Epoch U.S. Equity Yield Portfolio(formerly known as NYLI VP Epoch U.S. Equity Yield Portfolio)
Initial Class
This <span title="element: B30%, context: 0%"><span class="sec-hidden" style="-sec-ix-hidden: t_668_4c80d59c_76a3_8465_fefb_e8c5dcba3820;">semiannual shareholder report</span></span> contains important information about NYLIM VP Epoch U.S. Equity Yield Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>36</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.68<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
36
0.0068
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio's subadvisor changed effective January 9, 2017, and its principal investment strategies changed effective March 13, 2017. The past performance in the graph and table prior to those dates reflects the Portfolio’s prior subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472281.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/1998</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.00<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">23.40<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.31<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.62<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000®Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000® Value Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">27.09%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.17%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.52%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">U.S. Equity Yield Composite Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.22%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.23%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Value Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.48%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.47%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with lower price-to-book ratios and lower expected growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The U.S. Equity Yield Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the MSCI USA High Dividend Yield Index and the MSCI USA Minimum Volatility (USD) Index weighted at 60% and 40%, respectively. The MSCI USA High Dividend Yield Index is based on the MSCI USA Index and includes large- and mid-cap stocks. The MSCI USA High Dividend Yield Index is designed to reflect the performance of equities in the MSCI USA Index (excluding real estate investment trusts) with higher dividend income and quality characteristics than average dividend yields that are both sustainable and persistent. The MSCI USA Minimum Volatility (USD) Index aims to reflect the performance characteristics of a minimum variance strategy applied to the large- and mid-cap U.S. equity universe. The MSCI USA Minimum Volatility (USD) Index is calculated by optimizing the MSCI USA Index in U.S. dollars for the lowest absolute risk (within a given set of constraints).</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Value Category Average is representative of funds that invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1998-05-01
0.1500
0.2340
0.1231
0.1162
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Value Index
0.1623
0.2709
0.1117
0.1152
U.S. Equity Yield Composite Index
0.0775
0.1222
0.0774
0.0923
Morningstar Large Value Category Average
0.1130
0.2121
0.1048
0.1147
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>940,928,088<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">110<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">15<span>%</span></td> </tr> </table>
940928088
110
0.15
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bank of America Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AbbVie, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MetLife, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electric Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Chemicals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Health Care Providers & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">48.4<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bank of America Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AbbVie, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MetLife, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.023
0.023
0.022
0.021
0.020
0.020
0.018
0.018
0.017
0.017
0.085
0.073
0.061
0.059
0.057
0.043
0.042
0.033
0.033
0.030
0.484
NYLIM VP Epoch U.S. Equity Yield Portfolio(formerly known as NYLI VP Epoch U.S. Equity Yield Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_669_22126f58_f89e_37f6_7747_80f26c7bd706;">semiannual shareholder report</span> contains important information about NYLIM VP Epoch U.S. Equity Yield Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>50</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.93<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
50
0.0093
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio's subadvisor changed effective January 9, 2017, and its principal investment strategies changed effective March 13, 2017. The past performance in the graph and table prior to those dates reflects the Portfolio’s prior subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472282.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/5/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.86<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">23.09<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.03<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.35<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup> Value Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">27.09%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.17%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.52%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">U.S. Equity Yield Composite Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.22%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.23%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Value Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.48%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.47%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with lower price-to-book ratios and lower expected growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The U.S. Equity Yield Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the MSCI USA High Dividend Yield Index and the MSCI USA Minimum Volatility (USD) Index weighted at 60% and 40%, respectively. The MSCI USA High Dividend Yield Index is based on the MSCI USA Index and includes large- and mid-cap stocks. The MSCI USA High Dividend Yield Index is designed to reflect the performance of equities in the MSCI USA Index (excluding real estate investment trusts) with higher dividend income and quality characteristics than average dividend yields that are both sustainable and persistent. The MSCI USA Minimum Volatility (USD) Index aims to reflect the performance characteristics of a minimum variance strategy applied to the large- and mid-cap U.S. equity universe. The MSCI USA Minimum Volatility (USD) Index is calculated by optimizing the MSCI USA Index in U.S. dollars for the lowest absolute risk (within a given set of constraints).</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Value Category Average is representative of funds that invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-05
0.1486
0.2309
0.1203
0.1135
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Value Index
0.1623
0.2709
0.1117
0.1152
U.S. Equity Yield Composite Index
0.0775
0.1222
0.0774
0.0923
Morningstar Large Value Category Average
0.1130
0.2121
0.1048
0.1147
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>940,928,088<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">110<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">15<span>%</span></td> </tr> </table>
940928088
110
0.15
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bank of America Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AbbVie, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MetLife, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electric Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Chemicals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Health Care Providers & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">48.4<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Bank of America Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Johnson & Johnson</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">AbbVie, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MetLife, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.023
0.023
0.022
0.021
0.020
0.020
0.018
0.018
0.017
0.017
0.085
0.073
0.061
0.059
0.057
0.043
0.042
0.033
0.033
0.030
0.484
NYLIM VP Fidelity Institutional AM® Utilities Portfolio(formerly known as NYLI VP Fidelity Institutional AM® Utilities Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_670_9ac55e51_1325_5368_7b3d_40647be0c1a6;">semiannual shareholder report</span> contains important information about NYLIM VP Fidelity Institutional AM<sup style="font-size: 10px;">®</sup> Utilities Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>35</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.67<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
35
0.0067
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472293.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.28<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.02<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.42<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.18<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI USA IMI Utilities 25/50 Index (Gross)<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.58%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.95%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Utilities Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.82%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.75%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI USA IMI Utilities 25/50 Index (Gross), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a modified market capitalization-weighted index of stocks designed to measure the performance of utilities companies in the MSCI U.S. Investable Market 2500 Index.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Utilities Category Average is representative of funds that seek capital appreciation by investing primarily in equity securities of U.S. or non-U.S. public utilities including electric, gas, and telephone-service providers. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2012-02-17
0.0728
0.1502
0.1342
0.1018
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
MSCI USA IMI Utilities 25/50 Index (Gross)
0.0733
0.1411
0.1058
0.0895
Morningstar Utilities Category Average
0.0981
0.1675
0.1082
0.0875
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>857,060,577<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">40<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">21<span>%</span></td> </tr> </table>
857060577
40
0.21
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Sempra</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Duke Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Constellation Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Entergy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vistra Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CenterPoint Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electric Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">65.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Multi–Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Independent Power and Renewable Electricity Producers</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Construction & Engineering</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short–Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(0.3<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Sempra</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Duke Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Constellation Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Entergy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vistra Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CenterPoint Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.129
0.069
0.054
0.053
0.053
0.051
0.049
0.048
0.047
0.040
0.658
0.197
0.065
0.021
0.017
0.003
0.003
0.002
0.037
-0.003
NYLIM VP Fidelity Institutional AM® Utilities Portfolio(formerly known as NYLI VP Fidelity Institutional AM® Utilities Portfolio)
Service Class
This <span><span><span><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_684_c3531d9b_b633_8fcb_0d8a_7b11edf36cea;">semiannual shareholder report</span></span></span></span></span></span> contains important information about NYLIM VP Fidelity Institutional AM<sup style="font-size: 10px;">®</sup> Utilities Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>47</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.92<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
47
0.0092
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472294.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.15<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.73<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.13<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.91<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup>®</sup>Index<sup>2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI USA IMI Utilities 25/50 Index (Gross)<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.11%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.58%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.95%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Utilities Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.75%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.82%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.75%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The MSCI USA IMI Utilities 25/50 Index (Gross), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a modified market capitalization-weighted index of stocks designed to measure the performance of utilities companies in the MSCI U.S. Investable Market 2500 Index.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Utilities Category Average is representative of funds that seek capital appreciation by investing primarily in equity securities of U.S. or non-U.S. public utilities including electric, gas, and telephone-service providers. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2012-02-17
0.0715
0.1473
0.1313
0.0991
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
MSCI USA IMI Utilities 25/50 Index (Gross)
0.0733
0.1411
0.1058
0.0895
Morningstar Utilities Category Average
0.0981
0.1675
0.1082
0.0875
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>857,060,577<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">40<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">21<span>%</span></td> </tr> </table>
857060577
40
0.21
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Sempra</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Duke Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Constellation Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Entergy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vistra Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CenterPoint Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electric Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">65.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Multi–Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Independent Power and Renewable Electricity Producers</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Construction & Engineering</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short–Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(0.3<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NextEra Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">American Electric Power Co., Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Sempra</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Duke Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Constellation Energy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Entergy Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xcel Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vistra Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NRG Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CenterPoint Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.129
0.069
0.054
0.053
0.053
0.051
0.049
0.048
0.047
0.040
0.658
0.197
0.065
0.021
0.017
0.003
0.003
0.002
0.037
-0.003
NYLIM VP Income Builder Portfolio(formerly known as NYLI VP Income Builder Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_681_72f6e74a_2dbc_03bb_7d56_631bcc8b9ce9;">semiannual shareholder report</span> contains important information about NYLIM VP Income Builder Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>33</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.63<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
33
0.0063
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472301.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1/29/1993</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.20<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.37<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.92<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.14<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI World Index (Net)<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Blended Benchmark Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.13%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.18%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.96%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.60%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderate Allocation Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">(1.07<span>)</span>%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.58%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">7.55%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Blended Benchmark Index is comprised of the MSCI World Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Morningstar Global Moderate Allocation Category Average funds seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1993-01-29
0.1420
0.2237
0.0792
0.0814
MSCI World Index (Net)
0.0969
0.2134
0.1147
0.1314
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Blended Benchmark Index
0.0613
0.1418
0.0696
0.0860
Morningstar Global Moderate Allocation Category Average
-0.0107
0.1658
0.0647
0.0755
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>617,116,537<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">639<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">41<span>%</span></td> </tr> </table>
617116537
639
0.41
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/30/31-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 8/1/48-3/1/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-7.833%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">59.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Foreign Government Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/30/31-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 8/1/48-3/1/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-7.833%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.031
0.029
0.026
0.018
0.015
0.014
0.014
0.013
0.012
0.012
0.590
0.114
0.103
0.097
0.038
0.029
0.011
0.008
0.010
NYLIM VP Income Builder Portfolio(formerly known as NYLI VP Income Builder Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_673_68a9dd7e_e786_656f_ae64_5c499661130f;">semiannual shareholder report</span> contains important information about NYLIM VP Income Builder Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>47</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.88<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
47
0.0088
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472302.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/4/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.06<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.07<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.65<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.87<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI World Index <span style="white-space: nowrap;">(Net)</span><sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond <span style="white-space: nowrap;">Index</span><sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Blended Benchmark <span style="white-space: nowrap;">Index</span><sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.13%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.18%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.96%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.60%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Global Moderate Allocation Category <span style="white-space: nowrap;">Average</span><sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">(1.07<span>)</span>%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.58%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">7.55%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Blended Benchmark Index is comprised of the MSCI World Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Morningstar Global Moderate Allocation Category Average funds seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-04
0.1406
0.2207
0.0765
0.0787
MSCI World Index (Net)
0.0969
0.2134
0.1147
0.1314
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Blended Benchmark Index
0.0613
0.1418
0.0696
0.0860
Morningstar Global Moderate Allocation Category Average
-0.0107
0.1658
0.0647
0.0755
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>617,116,537<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">639<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">41<span>%</span></td> </tr> </table>
617116537
639
0.41
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/30/31-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 8/1/48-3/1/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-7.833%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">59.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Foreign Government Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 5.00%, due 5/15/46-5/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.875%-4.375%, due 4/30/31-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 8/1/48-3/1/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">GNMA, (zero coupon)-7.833%, due 7/20/44-3/16/66</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Dell Technologies, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cisco Systems, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">CVS Health Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.031
0.029
0.026
0.018
0.015
0.014
0.014
0.013
0.012
0.012
0.590
0.114
0.103
0.097
0.038
0.029
0.011
0.008
0.010
NYLIM VP Hedge Multi-Strategy Portfolio(formerly known as NYLI VP Hedge Multi-Strategy Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_674_f63e6731_cbbb_1241_4f5c_3d35bac7c765;">semiannual shareholder report</span> contains important information about NYLIM VP Hedge Multi-Strategy Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>36</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.70<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
36
0.0070
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio commenced operations on September 10, 2018. Effective November 30, 2018, the Portfolio entered into a reorganization with MainStay VP Absolute Return Multi-Strategy Portfolio (the "Reorganization"). As part of the Reorganization, the Portfolio assumed the performance history of MainStay VP Absolute Return Multi-Strategy Portfolio. Therefore, performance information for periods prior to November 30, 2018, reflects the performance of MainStay VP Absolute Return Multi-Strategy Portfolio.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472285.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/2013</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.19<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.77<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.50<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.28<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P Balanced Equity and Bond - Conservative Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.56%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.54%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.53%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.32%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Barclay Hedge Fund Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.92%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.56%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.04%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">NYLIM Hedge Multi-Strategy Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.35%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.67%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Multistrategy Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.22%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.36%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.72%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P Balanced Equity and Bond - Conservative Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of a position in S&P 500 Total Return Index (25%) and a position in the S&P U.S. Treasury Bond 7-10 Year Index (75%).</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Barclay Hedge Fund Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a measure of the average return of all hedge funds (excepting Funds of Funds) in the Barclay database. The index is simply the arithmetic average of the net returns of all the funds that have reported that month.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The NYLIM Hedge Multi-Strategy Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, seeks to replicate the risk-adjusted return characteristics of the collective hedge funds using various hedge fund investment styles, including long/short equity, global macro, market neutral, event-driven, fixed income arbitrage and emerging markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Multistrategy Category Average is representative of funds that have a majority of their assets exposed to alternative strategies. Funds in this category include both funds with static allocations to alternative strategies and funds tactically allocating among alternative strategies and asset classes. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2013-05-01
0.0919
0.1477
0.0450
0.0328
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P Balanced Equity and Bond - Conservative Index
0.0256
0.0754
0.0253
0.0432
Barclay Hedge Fund Index
0.0692
0.1456
0.0604
0.0706
NYLIM Hedge Multi-Strategy Index
0.0971
0.1586
0.0535
0.0467
Morningstar Multistrategy Category Average
0.0374
0.0922
0.0536
0.0372
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>196,549,192<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">117<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">22<span>%</span></td> </tr> </table>
196549192
117
0.22
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Floating Rate Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard FTSE Developed Markets ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Franklin Senior Loan ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Short-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Core S&P Small-Cap ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI USA Momentum Factor ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SPDR Bloomberg Investment Grade Floating Rate ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI Emerging Markets ex China ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Convertible Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares National Muni Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Floating Rate—Investment Grade Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">21.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">International Equity Core Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Bank Loan Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short Duration Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Municipal Bond Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Bond Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Small Cap Core Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Emerging Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Momentum Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Large Cap Core Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Floating Rate Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard FTSE Developed Markets ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Franklin Senior Loan ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Short-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Core S&P Small-Cap ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI USA Momentum Factor ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SPDR Bloomberg Investment Grade Floating Rate ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI Emerging Markets ex China ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Convertible Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares National Muni Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.166
0.082
0.080
0.073
0.060
0.051
0.050
0.048
0.038
0.037
0.216
0.082
0.080
0.073
0.073
0.071
0.060
0.057
0.051
0.046
0.191
NYLIM VP Hedge Multi-Strategy Portfolio(formerly known as NYLI VP Hedge Multi-Strategy Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_682_e3ca1d9d_c03e_60fa_bdbb_198e1380fc64;">semiannual shareholder report</span> contains important information about NYLIM VP Hedge Multi-Strategy Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>49</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.95<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
49
0.0095
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio commenced operations on September 10, 2018. Effective November 30, 2018, the Portfolio entered into a reorganization with MainStay VP Absolute Return Multi-Strategy Portfolio (the "Reorganization"). As part of the Reorganization, the Portfolio assumed the performance history of MainStay VP Absolute Return Multi-Strategy Portfolio. Therefore, performance information for periods prior to November 30, 2018, reflects the performance of MainStay VP Absolute Return Multi-Strategy Portfolio.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472286.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/2013</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.48<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.24<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.02<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P Balanced Equity and Bond - Conservative Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.56%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.54%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2.53%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.32%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Barclay Hedge Fund Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.92%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.56%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.04%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">NYLIM Hedge Multi-Strategy Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.35%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.67%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Multistrategy Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.22%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">5.36%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">3.72%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P Balanced Equity and Bond - Conservative Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of a position in S&P 500 Total Return Index (25%) and a position in the S&P U.S. Treasury Bond 7-10 Year Index (75%).</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Barclay Hedge Fund Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a measure of the average return of all hedge funds (excepting Funds of Funds) in the Barclay database. The index is simply the arithmetic average of the net returns of all the funds that have reported that month.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The NYLIM Hedge Multi-Strategy Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, seeks to replicate the risk-adjusted return characteristics of the collective hedge funds using various hedge fund investment styles, including long/short equity, global macro, market neutral, event-driven, fixed income arbitrage and emerging markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Multistrategy Category Average is representative of funds that have a majority of their assets exposed to alternative strategies. Funds in this category include both funds with static allocations to alternative strategies and funds tactically allocating among alternative strategies and asset classes. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2013-05-01
0.0905
0.1448
0.0424
0.0302
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P Balanced Equity and Bond - Conservative Index
0.0256
0.0754
0.0253
0.0432
Barclay Hedge Fund Index
0.0692
0.1456
0.0604
0.0706
NYLIM Hedge Multi-Strategy Index
0.0971
0.1586
0.0535
0.0467
Morningstar Multistrategy Category Average
0.0374
0.0922
0.0536
0.0372
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>196,549,192<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">117<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">22<span>%</span></td> </tr> </table>
196549192
117
0.22
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Floating Rate Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard FTSE Developed Markets ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Franklin Senior Loan ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Short-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Core S&P Small-Cap ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI USA Momentum Factor ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SPDR Bloomberg Investment Grade Floating Rate ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI Emerging Markets ex China ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Convertible Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares National Muni Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Floating Rate—Investment Grade Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">21.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">International Equity Core Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Bank Loan Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short Duration Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Municipal Bond Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Bond Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Small Cap Core Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Emerging Equity Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Momentum Fund</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Large Cap Core Funds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.1<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Floating Rate Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard FTSE Developed Markets ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Franklin Senior Loan ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Vanguard Short-Term Treasury ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Core S&P Small-Cap ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI USA Momentum Factor ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SPDR Bloomberg Investment Grade Floating Rate ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares MSCI Emerging Markets ex China ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Convertible Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares National Muni Bond ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.166
0.082
0.080
0.073
0.060
0.051
0.050
0.048
0.038
0.037
0.216
0.082
0.080
0.073
0.073
0.071
0.060
0.057
0.051
0.046
0.191
NYLIM VP Janus Henderson Balanced Portfolio(formerly known as NYLI VP Janus Henderson Balanced Portfolio)
Initial Class
This <span title="element: B30%, context: 0%"><span><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_686_3655e6a0_d4dc_1e21_88c9_5e5a8717d592;">semiannual shareholder report</span></span></span></span></span> contains important information about NYLIM VP Janus Henderson Balanced Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>29</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.57<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
29
0.0057
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2024, the Portfolio modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472290.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4.09<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.00<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.65<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.67<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Janus Balanced Composite Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.45%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.76%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.72%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.43%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Moderate Allocation Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.91%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.28%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.64%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Janus Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is comprised of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2012-02-17
0.0409
0.1100
0.0765
0.1067
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Janus Balanced Composite Index
0.0645
0.1476
0.0772
0.0943
Morningstar Moderate Allocation Category Average
0.0691
0.1428
0.0674
0.0864
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>2,069,554,163<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">728<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">76<span>%</span></td> </tr> </table>
2069554163
728
0.76
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 4.75%-5.00%, due 5/15/46-2/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 2/1/37-12/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">65.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(2.0<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 4.75%-5.00%, due 5/15/46-2/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 2/1/37-12/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.063
0.056
0.044
0.033
0.031
0.027
0.025
0.025
0.022
0.022
0.651
0.160
0.073
0.052
0.050
0.026
0.008
-0.020
NYLIM VP Janus Henderson Balanced Portfolio(formerly known as NYLI VP Janus Henderson Balanced Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_677_6df8ce46_be5c_6b35_46bf_7f88ad39059d;">semiannual shareholder report</span> contains important information about NYLIM VP Janus Henderson Balanced Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>42</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.82<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
42
0.0082
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2024, the Portfolio modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472291.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.96<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.72<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.38<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.39<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Janus Balanced Composite Index<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.45%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.76%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.72%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.43%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Moderate Allocation Category Average<sup style="font-size: 10px;">6</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.91%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.28%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.64%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Janus Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is comprised of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">6.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2012-02-17
0.0396
0.1072
0.0738
0.1039
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
Janus Balanced Composite Index
0.0645
0.1476
0.0772
0.0943
Morningstar Moderate Allocation Category Average
0.0691
0.1428
0.0674
0.0864
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>2,069,554,163<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">728<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">76<span>%</span></td> </tr> </table>
2069554163
728
0.76
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 4.75%-5.00%, due 5/15/46-2/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 2/1/37-12/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Common Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">65.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government & Federal Agencies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Corporate Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Loan Assignments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">0.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(2.0<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Notes, 3.75%-4.375%, due 4/30/28-5/15/36</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bonds, 4.75%-5.00%, due 5/15/46-2/15/56</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">UMBS, 30 Year, 2.00%-6.00%, due 2/1/37-12/1/55</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.063
0.056
0.044
0.033
0.031
0.027
0.025
0.025
0.022
0.022
0.651
0.160
0.073
0.052
0.050
0.026
0.008
-0.020
NYLIM VP MacKay Convertible Portfolio(formerly known as NYLI VP MacKay Convertible Portfolio)
Initial Class
This <span title="element: B30%, context: 0%"><span><span><span><span><span><span><span class="sec-hidden" style="-sec-ix-hidden:t_688_c2771ba4_c3d0_f5f8_819a_4d989c207e60">semiannual shareholder report</span></span></span></span></span></span></span></span> contains important information about NYLIM VP MacKay Convertible Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>33</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.59<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
33
0.0059
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472287.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10/1/1996</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">24.56<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">36.07<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.07<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.60<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">ICE BofA U.S. Convertible Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">34.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.15%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Convertibles Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">18.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">29.56%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.50%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The ICE BofA U.S. Convertible Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization weighted index of domestic corporate convertible securities. In order to be included in the ICE BofA U.S. Convertible Index, bonds and preferred stocks must be convertible only to common stock.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Convertibles Category Average is representative of funds that are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1996-10-01
0.2456
0.3607
0.0907
0.1260
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
ICE BofA U.S. Convertible Index
0.2112
0.3412
0.0771
0.1315
Morningstar Convertibles Category Average
0.1831
0.2956
0.0633
0.1150
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,322,778,510<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">96<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">20<span>%</span></td> </tr> </table>
1322778510
96
0.20
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc., 1.25%, due 6/1/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp., 3.00%, due 11/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., 6.250%, Series A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Welltower OP LLC, 3.125%, due 7/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co., 7.625%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lantheus Holdings, Inc., 2.625%, due 12/15/27</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lumentum Holdings, Inc., 0.50%, due 6/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">QXO, Inc., 5.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Boeing Co. (The), 6.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Uber Technologies, Inc., Series 2028, 0.875%, due 12/1/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">80.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Preferred Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">14.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(2.9<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc., 1.25%, due 6/1/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp., 3.00%, due 11/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., 6.250%, Series A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Welltower OP LLC, 3.125%, due 7/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co., 7.625%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lantheus Holdings, Inc., 2.625%, due 12/15/27</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lumentum Holdings, Inc., 0.50%, due 6/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">QXO, Inc., 5.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Boeing Co. (The), 6.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Uber Technologies, Inc., Series 2028, 0.875%, due 12/1/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.037
0.035
0.035
0.027
0.022
0.021
0.020
0.018
0.017
0.017
0.803
0.148
0.078
-0.029
NYLIM VP MacKay Convertible Portfolio(formerly known as NYLI VP MacKay Convertible Portfolio)
Service 2 Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_687_b070d284_82cf_947e_fff3_92d587709142;">semiannual shareholder report</span></span> contains important information about NYLIM VP MacKay Convertible Portfolio (the "Portfolio") for the period January 1, 2026 to June 30, 2026.
You can find additional information about the Portfolio at <span style="text-decoration-line: underline; color: rgb(0, 46, 89); font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service 2 Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>52</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.94<span>%</span></td> </tr> </table>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
52
0.0094
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472289.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service 2 Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">4/26/2016</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">24.35<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">35.59<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.69<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.22<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">ICE BofA U.S. Convertible Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">34.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.15%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Convertibles Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">18.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">29.56%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.50%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The ICE BofA U.S. Convertible Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization weighted index of domestic corporate convertible securities. In order to be included in the ICE BofA U.S. Convertible Index, bonds and preferred stocks must be convertible only to common stock.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Convertibles Category Average is representative of funds that are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service 2 Class Shares
2016-04-26
0.2435
0.3559
0.0869
0.1222
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
ICE BofA U.S. Convertible Index
0.2112
0.3412
0.0771
0.1315
Morningstar Convertibles Category Average
0.1831
0.2956
0.0633
0.1150
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,322,778,510<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">96<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">20<span>%</span></td> </tr> </table>
1322778510
96
0.20
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc., 1.25%, due 6/1/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp., 3.00%, due 11/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., 6.250%, Series A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Welltower OP LLC, 3.125%, due 7/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co., 7.625%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lantheus Holdings, Inc., 2.625%, due 12/15/27</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lumentum Holdings, Inc., 0.50%, due 6/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">QXO, Inc., 5.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Boeing Co. (The), 6.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Uber Technologies, Inc., Series 2028, 0.875%, due 12/1/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">80.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Preferred Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">14.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(2.9<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc., 1.25%, due 6/1/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp., 3.00%, due 11/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., 6.250%, Series A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Welltower OP LLC, 3.125%, due 7/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co., 7.625%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lantheus Holdings, Inc., 2.625%, due 12/15/27</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lumentum Holdings, Inc., 0.50%, due 6/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">QXO, Inc., 5.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Boeing Co. (The), 6.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Uber Technologies, Inc., Series 2028, 0.875%, due 12/1/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.037
0.035
0.035
0.027
0.022
0.021
0.020
0.018
0.017
0.017
0.803
0.148
0.078
-0.029
NYLIM VP MacKay Convertible Portfolio(formerly known as NYLI VP MacKay Convertible Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_680_714f0fa2_71a1_318b_7afa_5f540eab778c;">semiannual shareholder report</span> contains important information about NYLIM VP MacKay Convertible Portfolio (the "Portfolio") for the period January 1, 2026 to June 30, 2026.
You can find additional information about the Portfolio at <span style="text-decoration-line: underline; color: rgb(0, 46, 89); font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>47</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.84<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
47
0.0084
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472288.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/5/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">24.41<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">35.73<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.79<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.32<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.62%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.79%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">0.08%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1.54%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">ICE BofA U.S. Convertible Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">34.12%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.15%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Convertibles Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">18.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">29.56%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">6.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.50%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The ICE BofA U.S. Convertible Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization weighted index of domestic corporate convertible securities. In order to be included in the ICE BofA U.S. Convertible Index, bonds and preferred stocks must be convertible only to common stock.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Convertibles Category Average is representative of funds that are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-05
0.2441
0.3573
0.0879
0.1232
Bloomberg U.S. Aggregate Bond Index
0.0062
0.0379
0.0008
0.0154
ICE BofA U.S. Convertible Index
0.2112
0.3412
0.0771
0.1315
Morningstar Convertibles Category Average
0.1831
0.2956
0.0633
0.1150
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,322,778,510<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">96<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">20<span>%</span></td> </tr> </table>
1322778510
96
0.20
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc., 1.25%, due 6/1/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp., 3.00%, due 11/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., 6.250%, Series A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Welltower OP LLC, 3.125%, due 7/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co., 7.625%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lantheus Holdings, Inc., 2.625%, due 12/15/27</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lumentum Holdings, Inc., 0.50%, due 6/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">QXO, Inc., 5.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Boeing Co. (The), 6.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Uber Technologies, Inc., Series 2028, 0.875%, due 12/1/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Portfolio Composition </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Bonds</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">80.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Convertible Preferred Stocks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">14.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Short-Term Investments</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other Assets, Less Liabilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(2.9<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc., 1.25%, due 6/1/30</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp., 3.00%, due 11/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., 6.250%, Series A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Welltower OP LLC, 3.125%, due 7/15/29</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Hewlett Packard Enterprise Co., 7.625%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lantheus Holdings, Inc., 2.625%, due 12/15/27</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lumentum Holdings, Inc., 0.50%, due 6/15/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">QXO, Inc., 5.50%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Boeing Co. (The), 6.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Uber Technologies, Inc., Series 2028, 0.875%, due 12/1/28</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.037
0.035
0.035
0.027
0.022
0.021
0.020
0.018
0.017
0.017
0.803
0.148
0.078
-0.029
NYLIM VP PineStone International Equity Portfolio(formerly known as NYLI VP PineStone International Equity Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_442_6a8568a7_f469_b9d0_31f8_1f9ff2519b82;">semiannual shareholder report</span> contains important information about NYLIM VP PineStone International Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>44</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.86<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
44
0.0086
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective August 28, 2023, the Portfolio replaced its subadvisor, changed its investment objective and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisor, investment objective and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472269.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/1995</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.47<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.96<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">(0.25<span>)</span><span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.15<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index <span style="white-space: nowrap;">(Net)</span><sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Foreign Large Growth Category <span style="white-space: nowrap;">Average</span><sup style="font-size: 10px;">3 </sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.18%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.02%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.14%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.98%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) to represent a broad measure of market performance, and it is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Foreign Large Growth Category Average is representative of funds that focus on high-priced growth stocks, mainly outside of the United States. Most of these funds divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These funds primarily invest in stocks that have market caps in the top 70% of each economically integrated market and will have less than 20% of assets invested in U.S. stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1995-05-01
0.0647
0.0996
-0.0025
0.0615
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Morningstar Foreign Large Growth Category Average
0.1018
0.1402
0.0414
0.0898
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>328,935,504<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">35<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">5<span>%</span></td> </tr> </table>
328935504
35
0.05
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASML Holding NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">InterContinental Hotels Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Air Liquide SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keyence Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">London Stock Exchange Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cie Financiere Richemont SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nestle SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">LVMH Moet Hennessy Louis Vuitton SE</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">L'Oreal SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Countries</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United States</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">France</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Switzerland</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">13.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Taiwan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United Kingdom</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Netherlands</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Spain</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Canada</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Germany</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASML Holding NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">InterContinental Hotels Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Air Liquide SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keyence Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">London Stock Exchange Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cie Financiere Richemont SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nestle SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">LVMH Moet Hennessy Louis Vuitton SE</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">L'Oreal SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.116
0.095
0.064
0.063
0.060
0.051
0.049
0.041
0.034
0.031
0.167
0.166
0.136
0.116
0.108
0.095
0.060
0.055
0.040
0.040
0.017
NYLIM VP PineStone International Equity Portfolio(formerly known as NYLI VP PineStone International Equity Portfolio)
Service Class
This <span title="element: B30%, context: 0%"><span><span><span class="sec-hidden" style="-sec-ix-hidden: t_685_30573443_17f7_6bad_43d8_663499e1bd2a;">semiannual shareholder report</span></span></span></span> contains important information about NYLIM VP PineStone International Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>57</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.11<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
57
0.0111
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective August 28, 2023, the Portfolio replaced its subadvisor, changed its investment objective and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisor, investment objective and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472270.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/5/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.34<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.69<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">(0.50<span>)</span><span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.88<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="font-size: 10px;">®</sup> Index (Net)<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.44%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.05%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.66%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Foreign Large Growth Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.18%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.02%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.14%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.98%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) to represent a broad measure of market performance, and it is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI EAFE<sup style="font-size: 10px; vertical-align: top;">®</sup> Index (Net) consists of international stocks representing the developed world outside of North America.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Foreign Large Growth Category Average is representative of funds that focus on high-priced growth stocks, mainly outside of the United States. Most of these funds divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These funds primarily invest in stocks that have market caps in the top 70% of each economically integrated market and will have less than 20% of assets invested in U.S. stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-05
0.0634
0.0969
-0.0050
0.0588
MSCI EAFE® Index (Net)
0.0944
0.2023
0.0905
0.0966
Morningstar Foreign Large Growth Category Average
0.1018
0.1402
0.0414
0.0898
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>328,935,504<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">35<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">5<span>%</span></td> </tr> </table>
328935504
35
0.05
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASML Holding NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">InterContinental Hotels Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Air Liquide SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keyence Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">London Stock Exchange Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cie Financiere Richemont SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nestle SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">LVMH Moet Hennessy Louis Vuitton SE</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">L'Oreal SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Countries</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United States</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">France</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Switzerland</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">13.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Taiwan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United Kingdom</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Netherlands</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Japan</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Spain</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Canada</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Germany</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.7<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ASML Holding NV</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">InterContinental Hotels Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Air Liquide SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Keyence Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">London Stock Exchange Group plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cie Financiere Richemont SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nestle SA (Registered)</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">LVMH Moet Hennessy Louis Vuitton SE</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">L'Oreal SA</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.116
0.095
0.064
0.063
0.060
0.051
0.049
0.041
0.034
0.031
0.167
0.166
0.136
0.116
0.108
0.095
0.060
0.055
0.040
0.040
0.017
NYLIM VP S&P 500 Index Portfolio(formerly known as NYLI VP S&P 500 Index Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_686_ccc3a287_161e_ddb1_083e_fd66d2051bf4;">semiannual shareholder report</span></span> contains important information about NYLIM VP S&P 500 Index Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>6</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.12<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
6
0.0012
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. The Portfolio's subadvisor changed again effective June 10, 2022 due to the transition of Francis J. Ok, the Portfolio's portfolio manager, from MacKay Shields LLC, a former subadvisor, to IndexIQ Advisors LLC, which is a wholly-owned, indirect subsidiary of New York Life Investment Holdings LLC. Effective August 28, 2024, all investment personnel of IndexIQ Advisors LLC, a former subadvisor, and the day-to-day investment services provided by IndexIQ Advisors LLC to the Portfolio, were transitioned to New York Life Investment Management LLC. The past performance in the graph and table prior to the dates above reflects the Portfolio's prior subadvisors.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472271.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1/29/1993</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.14<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.18<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.27<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.33<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.04%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones<sup style="font-size: 10px; vertical-align: top;">®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). The foregoing trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by New York Life Investment Management LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is a product of S&P Dow Jones Indices LLC and has been licensed for use by New York Life Investment Management LLC. NYLI VP S&P 500 Index Portfolio is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P nor their respective affiliates make any representation regarding the advisability of investing in such product(s).</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1993-01-29
0.1014
0.2218
0.1327
0.1533
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Blend Category Average
0.0974
0.2023
0.1151
0.1404
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>6,471,028,477<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">510<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">0.0<span>%</span><sup style="font-size: 10px;">1</sup></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; margin-bottom: 4pt; font-weight: normal; width: 3%; text-align: left; padding: 0 3pt 0 3pt;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; font-weight: normal; padding: 0 3pt 0 3pt;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Less than 0.5%.</div> </td> </tr> </table>
6471028477
510
0.000
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">18.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">38.5<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.074
0.065
0.058
0.043
0.036
0.027
0.020
0.019
0.018
0.015
0.189
0.081
0.077
0.074
0.037
0.034
0.034
0.033
0.029
0.027
0.385
NYLIM VP S&P 500 Index Portfolio(formerly known as NYLI VP S&P 500 Index Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_691_10bcd890_f287_6b4b_2d2d_0d950e8bad55;">semiannual shareholder report</span> contains important information about NYLIM VP S&P 500 Index Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>19</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.37<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
19
0.0037
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. The Portfolio's subadvisor changed again effective June 10, 2022 due to the transition of Francis J. Ok, the Portfolio's portfolio manager, from MacKay Shields LLC, a former subadvisor, to IndexIQ Advisors LLC, which is a wholly-owned, indirect subsidiary of New York Life Investment Holdings LLC. Effective August 28, 2024, all investment personnel of IndexIQ Advisors LLC, a former subadvisor, and the day-to-day investment services provided by IndexIQ Advisors LLC to the Portfolio, were transitioned to New York Life Investment Management LLC. The past performance in the graph and table prior to the dates above reflects the Portfolio's prior subadvisors.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472272.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/5/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.01<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.87<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.98<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.04<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.04%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones<sup style="font-size: 10px; vertical-align: top;">®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). The foregoing trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by New York Life Investment Management LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is a product of S&P Dow Jones Indices LLC and has been licensed for use by New York Life Investment Management LLC. NYLI VP S&P 500 Index Portfolio is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P nor their respective affiliates make any representation regarding the advisability of investing in such product(s).</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-05
0.1001
0.2187
0.1298
0.1504
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Blend Category Average
0.0974
0.2023
0.1151
0.1404
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>6,471,028,477<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">510<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">0.0<span>%</span><sup style="font-size: 10px;">1</sup></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); vertical-align: top; margin-bottom: 4pt; font-weight: normal; width: 3%; text-align: left; padding: 0 3pt 0 3pt;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; font-weight: normal; padding: 0 3pt 0 3pt;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Less than 0.5%.</div> </td> </tr> </table>
6471028477
510
0.000
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">18.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">38.5<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.074
0.065
0.058
0.043
0.036
0.027
0.020
0.019
0.018
0.015
0.189
0.081
0.077
0.074
0.037
0.034
0.034
0.033
0.029
0.027
0.385
NYLIM VP Natural Resources Portfolio(formerly known as NYLI VP Natural Resources Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_692_90322f9e_dc8d_7d7e_ff4c_1c39715b4bfb;">semiannual shareholder report</span> contains important information about NYLIM VP Natural Resources Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>45</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.84<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
45
0.0084
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio replaced its subadvisor, changed its investment objective and modified its principal investment strategies as of November 30, 2018. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisor, investment objective and principal investment strategies. The Portfolio's subadvisor changed effective September 1, 2021 due to an organizational restructuring whereby all investment personnel of Mellon Investments Corporation, the former subadvisor, transitioned to Newton Investment Management North America, LLC.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472292.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.68<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">33.29<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.24<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.62<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">MSCI World Index (Net)<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.69%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">21.34%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.47%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P Global Natural Resources Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">28.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.35%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.38%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Natural Resources Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.25%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">37.66%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.09%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.57%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the MSCI World Index (Net), to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P Global Natural Resources Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, includes 90 of the largest publicly-traded companies in natural resources and commodities businesses that meet specific investability requirements, offering investors diversified and investable equity exposure to agribusiness, energy, and metals & mining.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Natural Resources Category Average is representative of funds that invest primarily on commodity-based industries such as energy, chemicals, minerals, and forest products in the United States or outside of the United States. Some funds invest across this spectrum to offer broad natural-resources exposure. Others concentrate heavily or even exclusively in specific industries. Funds that concentrate primarily in energy-related industries are part of the equity energy category. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2012-02-17
0.1468
0.3329
0.1524
0.0962
MSCI World Index (Net)
0.0969
0.2134
0.1147
0.1314
S&P Global Natural Resources Index
0.0971
0.2841
0.0935
0.1038
Morningstar Natural Resources Category Average
0.0925
0.3766
0.0909
0.1057
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>324,200,385<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">42<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">43<span>%</span></td> </tr> </table>
324200385
42
0.43
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Freeport-McMoRan, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">International Paper Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Exxon Mobil Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">BP plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Newmont Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SLB Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Diamondback Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ConocoPhillips</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Suncor Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Agnico Eagle Mines Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Countries</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">United States</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">76.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Canada</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">16.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Australia</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Luxembourg</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">South Africa</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Norway</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(2.3<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Freeport-McMoRan, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">International Paper Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Exxon Mobil Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">BP plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Newmont Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">SLB Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Diamondback Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">ConocoPhillips</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Suncor Energy, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Agnico Eagle Mines Ltd.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.045
0.043
0.042
0.042
0.041
0.040
0.040
0.039
0.039
0.037
0.764
0.167
0.028
0.027
0.024
0.013
-0.023
NYLIM VP Small Cap Growth Portfolio(formerly known as NYLI VP Small Cap Growth Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_694_28f2df10_d640_0ebb_a0b4_d2a754710bb1;">semiannual shareholder report</span></span> contains important information about NYLIM VP Small Cap Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>47</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.86<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
47
0.0086
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2020, the Portfolio replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472297.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.23<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">30.06<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.92<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.23<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 2000<sup style="font-size: 10px;">®</sup> Growth Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.18%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">38.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.57%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.97%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Small Growth Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.77%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">33.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.65%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">12.46%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 2000<sup style="font-size: 10px; vertical-align: top;">®</sup> Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with higher price-to-book ratios and higher forecasted growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Small Growth Category Average is representative of funds that focus on faster-growing companies whose shares are at the lower end of the market-capitalization range. These funds tend to favor companies in up-and-coming industries or young firms in their early growth stages. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2012-02-17
0.2223
0.3006
0.0392
0.1123
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 2000® Growth Index
0.2218
0.3874
0.0557
0.1197
Morningstar Small Growth Category Average
0.2177
0.3331
0.0465
0.1246
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>428,358,464<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">143<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">25<span>%</span></td> </tr> </table>
428358464
143
0.25
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Guardant Health, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">HealthEquity, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Oceaneering International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Materion Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Establishment Labs Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Novanta, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cytokinetics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Prosperity Bancshares, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Casella Waste Systems, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">StoneX Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Biotechnology</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Health Care Providers & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Services & Supplies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Health Care Equipment & Supplies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">38.7<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Guardant Health, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">HealthEquity, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Oceaneering International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Materion Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Establishment Labs Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Novanta, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cytokinetics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Prosperity Bancshares, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Casella Waste Systems, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">StoneX Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.022
0.022
0.019
0.018
0.016
0.016
0.015
0.015
0.015
0.014
0.085
0.081
0.080
0.062
0.057
0.052
0.052
0.050
0.049
0.045
0.387
NYLIM VP Small Cap Growth Portfolio(formerly known as NYLI VP Small Cap Growth Portfolio)
Service Class
This <span title="element: B30%, context: 0%"><span><span class="sec-hidden" style="-sec-ix-hidden: t_692_6766a287_845d_c917_ac21_1f8c611ee704;">semiannual shareholder report</span></span></span> contains important information about NYLIM VP Small Cap Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>61</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.11<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
61
0.0111
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective May 1, 2020, the Portfolio replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio’s prior subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472298.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/17/2012</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.08<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">29.74<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.67<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.95<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 2000<sup style="font-size: 10px;">®</sup> Growth Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.18%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">38.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.57%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.97%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Small Growth Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.77%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">33.31%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">4.65%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">12.46%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 2000<sup style="font-size: 10px; vertical-align: top;">®</sup> Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with higher price-to-book ratios and higher forecasted growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Small Growth Category Average is representative of funds that focus on faster-growing companies whose shares are at the lower end of the market-capitalization range. These funds tend to favor companies in up-and-coming industries or young firms in their early growth stages. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2012-02-17
0.2208
0.2974
0.0367
0.1095
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 2000® Growth Index
0.2218
0.3874
0.0557
0.1197
Morningstar Small Growth Category Average
0.2177
0.3331
0.0465
0.1246
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>428,358,464<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">143<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">25<span>%</span></td> </tr> </table>
428358464
143
0.25
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Guardant Health, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">HealthEquity, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Oceaneering International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Materion Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Establishment Labs Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Novanta, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cytokinetics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Prosperity Bancshares, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Casella Waste Systems, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">StoneX Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Biotechnology</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Health Care Providers & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commercial Services & Supplies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Health Care Equipment & Supplies</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">38.7<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Guardant Health, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">HealthEquity, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Oceaneering International, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Materion Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Establishment Labs Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Novanta, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Cytokinetics, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Prosperity Bancshares, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Casella Waste Systems, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">StoneX Group, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.022
0.022
0.019
0.018
0.016
0.016
0.015
0.015
0.015
0.014
0.085
0.081
0.080
0.062
0.057
0.052
0.052
0.050
0.049
0.045
0.387
NYLIM VP Wellington Growth Portfolio(formerly known as NYLI VP Wellington Growth Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_697_60996ea6_3dcc_e4a7_9d05_d80792774940;">semiannual shareholder report</span> contains important information about NYLIM VP Wellington Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>37</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.73<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
37
0.0073
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective July 29, 2016, the Portfolio's principal investment strategies were modified in connection with changes to the Portfolio's subadvisor. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisor and principal investment strategies. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced its subadvisor and modified its principal investment strategies. The past performance prior to these dates reflect the Portfolio's subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472267.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1/29/1993</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.63<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.99<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.34<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.44<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup> Growth Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.58%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Growth Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">18.29%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.40%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with higher price-to-book ratios and higher forecasted growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1993-01-29
0.0363
0.1199
0.0834
0.1444
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Growth Index
0.0533
0.1771
0.1371
0.1858
Morningstar Large Growth Category Average
0.0900
0.1829
0.1051
0.1640
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>669,581,201<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">56<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">43<span>%</span></td> </tr> </table>
669581201
56
0.43
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">25.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Automobiles</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.2<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.116
0.105
0.048
0.047
0.045
0.037
0.031
0.029
0.024
0.021
0.250
0.119
0.115
0.090
0.052
0.045
0.037
0.035
0.033
0.032
0.192
NYLIM VP Wellington Growth Portfolio(formerly known as NYLI VP Wellington Growth Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_689_e4616397_37a3_6550_1241_3d1794845ec1;">semiannual shareholder report</span> contains important information about NYLIM VP Wellington Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>49</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.98<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
49
0.0098
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective July 29, 2016, the Portfolio's principal investment strategies were modified in connection with changes to the Portfolio's subadvisor. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisor and principal investment strategies. The Portfolio’s subadvisor changed effective January 1, 2018 due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced its subadvisor and modified its principal investment strategies. The past performance prior to these dates reflect the Portfolio's subadvisor and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472268.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/5/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">3.50<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.71<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.07<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.15<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup> Growth Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.58%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Growth Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">18.29%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.40%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with higher price-to-book ratios and higher forecasted growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-05
0.0350
0.1171
0.0807
0.1415
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Growth Index
0.0533
0.1771
0.1371
0.1858
Morningstar Large Growth Category Average
0.0900
0.1829
0.1051
0.1640
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>669,581,201<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">56<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">43<span>%</span></td> </tr> </table>
669581201
56
0.43
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">25.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Automobiles</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.2<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">11.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Tesla, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Western Digital Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.116
0.105
0.048
0.047
0.045
0.037
0.031
0.029
0.024
0.021
0.250
0.119
0.115
0.090
0.052
0.045
0.037
0.035
0.033
0.032
0.192
NYLIM VP Wellington Small Cap Portfolio(formerly known as NYLI VP Wellington Small Cap Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_697_b49e41a5_ce4a_7ba9_94d4_15c8b68150b2;">semiannual shareholder report</span> contains important information about NYLIM VP Wellington Small Cap Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>42</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.74<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
42
0.0074
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio's subadvisor changed effective January 1, 2018, due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced its subadvisor, MacKay Shields LLC, and modified its principal investment strategies. The past performance in the graph and table prior to those dates reflect the Portfolio's subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472273.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/2/2016</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">25.95<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">43.62<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.53<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.62<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 2000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.57%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">40.78%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.98%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.62%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Small Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.59%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">33.88%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.03%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.34%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 2000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap segment of the U.S. equity universe. It is a subset of the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Small Blend Category Average is representative of funds that favor U.S. firms at the smaller end of the market-capitalization range. Some aim to own an array of value and growth stocks while others employ a discipline that leads to holdings with valuations and growth rates close to the small-cap averages. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2016-05-02
0.2595
0.4362
0.0753
0.0962
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 2000®Index
0.2257
0.4078
0.0698
0.1162
Morningstar Small Blend Category Average
0.2159
0.3388
0.0803
0.1134
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>429,272,438<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">274<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">37<span>%</span></td> </tr> </table>
429272438
274
0.37
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xometry, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Russell 2000 ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">DigitalOcean Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nextpower, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TTM Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Kaiser Aluminum Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Champion Homes, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Life Time Group Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lundin Mining Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Biotechnology</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Trading Companies & Distributors</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Metals & Mining</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hotels, Restaurants & Leisure</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Consumer Finance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">52.5<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xometry, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Russell 2000 ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">DigitalOcean Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nextpower, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TTM Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Kaiser Aluminum Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Champion Homes, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Life Time Group Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lundin Mining Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.023
0.014
0.014
0.013
0.013
0.013
0.012
0.011
0.011
0.010
0.091
0.084
0.054
0.051
0.045
0.037
0.030
0.029
0.028
0.026
0.525
NYLIM VP Wellington Small Cap Portfolio(formerly known as NYLI VP Wellington Small Cap Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_696_8786d0e2_3f2e_8df2_de3c_8f8a491f52d2;">semiannual shareholder report</span> contains important information about NYLIM VP Wellington Small Cap Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>56</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.99<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
56
0.0099
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. The Portfolio's subadvisor changed effective January 1, 2018, due to an organizational restructuring whereby all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC. Effective May 1, 2021, the Portfolio replaced its subadvisor, MacKay Shields LLC, and modified its principal investment strategies. The past performance in the graph and table prior to those dates reflect the Portfolio's subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472274.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/2/2016</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">25.80<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">43.26<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">7.26<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.34<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 2000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.57%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">40.78%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.98%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.62%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Small Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">21.59%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">33.88%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">8.03%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.34%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 2000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap segment of the U.S. equity universe. It is a subset of the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Small Blend Category Average is representative of funds that favor U.S. firms at the smaller end of the market-capitalization range. Some aim to own an array of value and growth stocks while others employ a discipline that leads to holdings with valuations and growth rates close to the small-cap averages. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2016-05-02
0.2580
0.4326
0.0726
0.0934
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 2000®Index
0.2257
0.4078
0.0698
0.1162
Morningstar Small Blend Category Average
0.2159
0.3388
0.0803
0.1134
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>429,272,438<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">274<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">37<span>%</span></td> </tr> </table>
429272438
274
0.37
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xometry, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Russell 2000 ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">DigitalOcean Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nextpower, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TTM Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Kaiser Aluminum Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Champion Homes, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Life Time Group Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lundin Mining Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Biotechnology</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Trading Companies & Distributors</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Metals & Mining</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hotels, Restaurants & Leisure</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Consumer Finance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">52.5<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Xometry, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">MKS, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">iShares Russell 2000 ETF</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">DigitalOcean Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Nextpower, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">TTM Technologies, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Kaiser Aluminum Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Champion Homes, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Life Time Group Holdings, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lundin Mining Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.023
0.014
0.014
0.013
0.013
0.013
0.012
0.011
0.011
0.010
0.091
0.084
0.054
0.051
0.045
0.037
0.030
0.029
0.028
0.026
0.525
NYLIM VP Dimensional U.S. Equity Portfolio(formerly known as NYLI VP Dimensional U.S. Equity Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_692_79627379_26b1_2698_175d_da28788de4d2;">semiannual shareholder report</span> contains important information about NYLIM VP Dimensional U.S. Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>28</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.54<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
28
0.0054
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective January 1, 2018, due to an organizational restructuring, all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC, the former subadvisor. Effective May 1, 2021, the Portfolio replaced its subadvisor and modified its principal investment strategies. Effective August 12, 2024, the Portfolio again replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472283.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">1/23/1984</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.23<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.39<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.79<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.34<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.32%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.01%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.66%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.29%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.04%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1984-01-23
0.0823
0.1639
0.1079
0.1334
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000®Index
0.1032
0.2201
0.1266
0.1529
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Blend Category Average
0.0974
0.2023
0.1151
0.1404
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>962,140,754<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">117<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">5<span>%</span></td> </tr> </table>
962140754
117
0.05
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Visa, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Caterpillar, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">18.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Specialty Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Biotechnology</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hotels, Restaurants & Leisure</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">30.2<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Visa, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Caterpillar, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.075
0.068
0.047
0.044
0.041
0.037
0.033
0.027
0.026
0.025
0.180
0.087
0.086
0.075
0.072
0.069
0.039
0.038
0.026
0.026
0.302
NYLIM VP Dimensional U.S. Equity Portfolio(formerly known as NYLI VP Dimensional U.S. Equity Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_693_235d80ab_e51d_e3da_4b33_e9791aaee09f;">semiannual shareholder report</span> contains important information about NYLIM VP Dimensional U.S. Equity Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.79<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
41
0.0079
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period. Effective January 1, 2018, due to an organizational restructuring, all investment personnel of Cornerstone Capital Management Holdings LLC, the former subadvisor, transitioned to MacKay Shields LLC, the former subadvisor. Effective May 1, 2021, the Portfolio replaced its subadvisor and modified its principal investment strategies. Effective August 12, 2024, the Portfolio again replaced its subadvisor and modified its principal investment strategies. The past performance in the graph and table prior to that date reflects the Portfolio's prior subadvisors and principal investment strategies.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472284.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/5/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">8.09<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">16.10<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.51<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.05<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.32%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.01%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.66%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.29%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">11.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">14.04%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-05
0.0809
0.1610
0.1051
0.1305
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000®Index
0.1032
0.2201
0.1266
0.1529
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Blend Category Average
0.0974
0.2023
0.1151
0.1404
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>962,140,754<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">117<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">5<span>%</span></td> </tr> </table>
962140754
117
0.05
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Visa, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Caterpillar, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">18.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Specialty Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Machinery</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Biotechnology</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Hotels, Restaurants & Leisure</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">30.2<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Visa, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Caterpillar, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr> </table>
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<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.075
0.068
0.047
0.044
0.041
0.037
0.033
0.027
0.026
0.025
0.180
0.087
0.086
0.075
0.072
0.069
0.039
0.038
0.026
0.026
0.302
NYLIM VP Winslow Large Cap Growth Portfolio(formerly known as NYLI VP Winslow Large Cap Growth Portfolio)
Initial Class
This <span><span class="sec-hidden" style="-sec-ix-hidden: t_697_4ad2abc8_3f60_9788_c806_7c382773b312;">semiannual shareholder report</span></span> contains important information about NYLIM VP Winslow Large Cap Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>38</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.75<span>%</span></td> </tr> </table>
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<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
38
0.0075
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472277.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5/1/1998</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.64<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.27<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.24<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.29<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup> Growth Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.58%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Growth Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">18.29%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.40%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with higher price-to-book ratios and higher forecasted growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
1998-05-01
0.0564
0.0927
0.1124
0.1729
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Growth Index
0.0533
0.1771
0.1371
0.1858
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Growth Category Average
0.0900
0.1829
0.1051
0.1640
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,966,427,223<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">57<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">56<span>%</span></td> </tr> </table>
1966427223
57
0.56
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">27.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Communications Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">20.9<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.100
0.090
0.057
0.046
0.039
0.032
0.029
0.029
0.029
0.026
0.278
0.126
0.078
0.072
0.052
0.040
0.039
0.039
0.037
0.030
0.209
NYLIM VP Winslow Large Cap Growth Portfolio(formerly known as NYLI VP Winslow Large Cap Growth Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_698_9ffd8bfd_a7d4_4943_0188_82d19deaec03;">semiannual shareholder report</span> contains important information about NYLIM VP Winslow Large Cap Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2,3</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>51</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.00<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">3.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
51
0.0100
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472278.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Five<br/>Years</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Ten<br/>Years</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6/6/2003</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.51<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">9.00<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.96<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.00<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.30%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.06%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="font-size: 10px;">®</sup> Growth Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">5.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">17.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.71%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.58%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.41%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">15.51%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Growth Category Average<sup style="font-size: 10px;">5</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">18.29%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">10.51%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">16.40%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index companies with higher price-to-book ratios and higher forecasted growth values.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">5.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2003-06-06
0.0551
0.0900
0.1096
0.1700
Russell 3000®Index
0.1086
0.2281
0.1230
0.1506
Russell 1000® Growth Index
0.0533
0.1771
0.1371
0.1858
S&P 500®Index
0.1021
0.2233
0.1341
0.1551
Morningstar Large Growth Category Average
0.0900
0.1829
0.1051
0.1640
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,966,427,223<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">57<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">56<span>%</span></td> </tr> </table>
1966427223
57
0.56
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">27.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Pharmaceuticals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Communications Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">20.9<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class C</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">10.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">9.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Eli Lilly & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.6<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.100
0.090
0.057
0.046
0.039
0.032
0.029
0.029
0.029
0.026
0.278
0.126
0.078
0.072
0.052
0.040
0.039
0.039
0.037
0.030
0.209
NYLIM VP MFS® Investors Trust Portfolio(formerly known as NYLI VP MFS® Investors Trust Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_703_1ea4fd45_44d7_26c0_1520_e0ce29e67a44;">semiannual shareholder report</span> contains important information about NYLIM VP MFS<sup style="font-size: 10px;">®</sup> Investors Trust Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>38</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.74<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
38
0.0074
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472305.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Since<br/>Inception</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/10/2025</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.66<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.67<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.53<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.46%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">15.92%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2025-02-10
0.0666
0.1467
0.1253
Russell 3000®Index
0.1086
0.2281
0.1814
S&P 500®Index
0.1021
0.2233
0.1846
Morningstar Large Blend Category Average
0.0974
0.2023
0.1592
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>443,909,538<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">69<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">18<span>%</span></td> </tr> </table>
443909538
69
0.18
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Seagate Technology Holdings plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">18.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electric Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">34.6<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Seagate Technology Holdings plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.078
0.063
0.062
0.047
0.047
0.036
0.027
0.024
0.021
0.019
0.189
0.086
0.082
0.060
0.047
0.045
0.041
0.037
0.034
0.033
0.346
NYLIM VP MFS® Investors Trust Portfolio(formerly known as NYLI VP MFS® Investors Trust Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_705_58b84b4f_0ac7_c3e6_edef_2a5fd7c6318a;">semiannual shareholder report</span> contains important information about NYLIM VP MFS<sup style="font-size: 10px;">®</sup> Investors Trust Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>51</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.99<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
51
0.0099
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472306.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Since<br/>Inception</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/10/2025</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.53<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.38<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">12.25<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.46%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">15.92%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2025-02-10
0.0653
0.1438
0.1225
Russell 3000®Index
0.1086
0.2281
0.1814
S&P 500®Index
0.1021
0.2233
0.1846
Morningstar Large Blend Category Average
0.0974
0.2023
0.1592
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>443,909,538<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">69<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">18<span>%</span></td> </tr> </table>
443909538
69
0.18
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Seagate Technology Holdings plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">18.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electrical Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electric Utilities</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">34.6<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Seagate Technology Holdings plc</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.9<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.078
0.063
0.062
0.047
0.047
0.036
0.027
0.024
0.021
0.019
0.189
0.086
0.082
0.060
0.047
0.045
0.041
0.037
0.034
0.033
0.346
NYLIM VP MFS® Research Portfolio(formerly known as NYLI VP MFS® Research Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_698_21b012a5_bc22_d547_5e76_47e2af6e2150;">semiannual shareholder report</span> contains important information about NYLIM VP MFS<sup style="font-size: 10px;">®</sup> Research Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>38</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.75<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
38
0.0075
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472308.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Since<br/>Inception</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/10/2025</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.16<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">14.16<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.32<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.46%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">15.92%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2025-02-10
0.0616
0.1416
0.1132
Russell 3000®Index
0.1086
0.2281
0.1814
S&P 500®Index
0.1021
0.2233
0.1846
Morningstar Large Blend Category Average
0.0974
0.2023
0.1592
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>340,213,134<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">98<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">28<span>%</span></td> </tr> </table>
340213134
98
0.28
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">39.0<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.084
0.069
0.050
0.048
0.044
0.035
0.023
0.023
0.023
0.021
0.195
0.089
0.071
0.055
0.045
0.044
0.033
0.029
0.025
0.024
0.390
NYLIM VP MFS® Research Portfolio(formerly known as NYLI VP MFS® Research Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_704_639673ca_3415_7fc9_897e_41ecc3ed1420;">semiannual shareholder report</span> contains important information about NYLIM VP MFS<sup style="font-size: 10px;">®</sup> Research Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
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<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>51</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.00<span>%</span></td> </tr> </table>
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<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
51
0.0100
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472307.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
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<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Since<br/>Inception</td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/10/2025</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">6.03<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">13.88<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">11.05<span>%</span></td> </tr>
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<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.21%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.33%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.46%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Large Blend Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">9.74%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">20.23%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">15.92%</td> </tr> </table>
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<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
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<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P<sup style="font-size: 10px; vertical-align: top;">®</sup> and S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500<sup style="font-size: 10px; vertical-align: top;">®</sup> Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2025-02-10
0.0603
0.1388
0.1105
Russell 3000®Index
0.1086
0.2281
0.1814
S&P 500®Index
0.1021
0.2233
0.1846
Morningstar Large Blend Category Average
0.0974
0.2023
0.1592
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>340,213,134<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">98<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">28<span>%</span></td> </tr> </table>
340213134
98
0.28
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">19.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.1<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Banks</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Capital Markets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Oil, Gas & Consumable Fuels</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Insurance</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">39.0<span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Apple, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Alphabet, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Microsoft Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Broadcom, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">JPMorgan Chase & Co.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">KLA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Mastercard, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.3<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Meta Platforms, Inc., Class A</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.1<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.084
0.069
0.050
0.048
0.044
0.035
0.023
0.023
0.023
0.021
0.195
0.089
0.071
0.055
0.045
0.044
0.033
0.029
0.025
0.024
0.390
NYLIM VP Newton Technology Growth Portfolio(formerly known as NYLI VP Newton Technology Growth Portfolio)
Initial Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_700_7bc4850b_3fcd_c4df_619f_eebd621f72ce;">semiannual shareholder report</span> contains important information about NYLIM VP Newton Technology Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Initial Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>46</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.78<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
46
0.0078
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472309.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Since<br/>Inception</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Initial Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/10/2025</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">36.54<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">55.10<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">42.87<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">NYSE<sup style="font-size: 10px;">®</sup> Technology Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">41.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">65.87%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">54.37%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Technology Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">34.17%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">51.42%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">37.56%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The NYSE<sup style="font-size: 10px; vertical-align: top;">®</sup> Technology Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is an equal-dollar weighted Index designed to objectively represent the technology sector by holding 35 of the leading U.S. technology-related companies.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Technology Category Average is representative of funds that buy high-tech businesses in the U.S. or outside of the U.S. Most concentrate on computer, semiconductor, software, networking, and Internet stocks. A few also buy medical-device and biotechnology stocks, and some concentrate on a single technology industry. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Initial Class Shares
2025-02-10
0.3654
0.5510
0.4287
Russell 3000®Index
0.1086
0.2281
0.1814
NYSE® Technology Index
0.4100
0.6587
0.5437
Morningstar Technology Category Average
0.3417
0.5142
0.3756
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,696,770,545<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">37<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">24<span>%</span></td> </tr> </table>
1696770545
37
0.24
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Marvell Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Intel Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">58.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Entertainment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IT Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(1.1<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Marvell Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Intel Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.085
0.070
0.070
0.066
0.064
0.064
0.046
0.040
0.038
0.035
0.585
0.128
0.067
0.052
0.048
0.036
0.029
0.027
0.025
0.014
-0.011
NYLIM VP Newton Technology Growth Portfolio(formerly known as NYLI VP Newton Technology Growth Portfolio)
Service Class
This <span class="sec-hidden" style="-sec-ix-hidden: t_701_895da21c_d726_7139_b4f5_2a83e1706e1d;">semiannual shareholder report</span> contains important information about NYLIM VP Newton Technology Growth Portfolio (the "Portfolio") for the period January 1, 2026<span style="white-space: nowrap;"> </span> to June 30, 2026.
You can find additional information about the Portfolio at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 46, 89); white-space: nowrap; font-family: 'arial'; font-size: 9pt; font-kerning: none;">dfinview.com/NYLIM?site=VP</span></span>. You can also request this information by contacting us at 800-624-6782.
dfinview.com/NYLIM?site=VP
800-624-6782
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">What were the Portfolio costs for the last six months?<sup style="font-size: 10px;"><sup style="font-size: 10px;">1</sup></sup></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Share Class Name</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment<sup style="font-size: 10px;">2</sup></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Service Class</td>
<td style="break-inside: avoid-page; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>60</td>
<td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.03<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">1.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;">2.</td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Annualized.</div> </td> </tr> </table>
60
0.0103
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 10pt;">Portfolio Performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 10pt;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 semiannual reporting periods of the Portfolio (or for the life of the Portfolio, if shorter). It assumes a $10,000 initial investment at the beginning of the first fiscal period in an appropriate, broad-based securities market index and other indexes, if applicable, for the same period.</div> <div style="margin-bottom: 0px;">
<img alt="Fund Performance - Growth of 10K" src="g79297chartimages_5472310.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 524pt;"/> </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: left; width: 60%; padding: 6pt 3pt 3pt 3pt;">Average Annual Total Returns for the Period Ended June 30, 2026</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Inception<br/>Date</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Six<br/>Months<sup style="font-size: 10px;">1</sup></td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">One<br/>Year</td>
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 46, 89); font-size: 9pt; font-weight: bold; text-align: right; padding: 6pt 3pt 3pt 3pt;">Since<br/>Inception</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Service Class Shares</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">2/10/2025</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">36.37<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">54.71<span>%</span></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">42.51<span>%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="font-size: 10px;">®</sup>Index<sup style="font-size: 10px;">2</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">10.86%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">22.81%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">18.14%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">NYSE<sup style="font-size: 10px;">®</sup> Technology Index<sup style="font-size: 10px;">3</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">41.00%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">65.87%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; padding: 6pt 3pt 3pt 3pt;">54.37%</td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 9pt; font-family: 'Arial'; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">Morningstar Technology Category Average<sup style="font-size: 10px;">4</sup></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">34.17%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">51.42%</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 6pt 3pt 3pt 3pt;">37.56%</td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid; margin-top: 12pt; break-before: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">1.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">Not annualized.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">2.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Portfolio has selected the Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index to represent a broad measure of market performance. The Russell 3000<sup style="font-size: 10px; vertical-align: top;">®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">3.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The NYSE<sup style="font-size: 10px; vertical-align: top;">®</sup> Technology Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is an equal-dollar weighted Index designed to objectively represent the technology sector by holding 35 of the leading U.S. technology-related companies.</div> </td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;">
<td style="break-inside: avoid-page; font-style: normal; font-family: 'Arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; width: 3%; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">4.</div> </td>
<td style="break-inside: avoid-page; font-family: 'Arial'; font-style: normal; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"> <div style="margin-top: 0px; font-family: 'arial'; font-size: 8pt; color: rgb(0, 0, 0); text-align: left; vertical-align: top; margin-bottom: 4pt; padding: 0px;">The Morningstar Technology Category Average is representative of funds that buy high-tech businesses in the U.S. or outside of the U.S. Most concentrate on computer, semiconductor, software, networking, and Internet stocks. A few also buy medical-device and biotechnology stocks, and some concentrate on a single technology industry. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.</div> </td> </tr> </table>
Service Class Shares
2025-02-10
0.3637
0.5471
0.4251
Russell 3000®Index
0.1086
0.2281
0.1814
NYSE® Technology Index
0.4100
0.6587
0.5437
Morningstar Technology Category Average
0.3417
0.5142
0.3756
Keep in mind that the Portfolio ’s past performance is not a good predictor of how the Portfolio will perform in the future.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on Portfolio distributions or redemption of Portfolio shares.
<div style="font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px; margin-top: 12pt;">Key Portfolio Statistics</div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio's net assets</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>1,696,770,545<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Total number of portfolio holdings</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">37<span style="visibility: hidden; display: inline;">%</span></td> </tr>
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; font-family: 'Arial'; width: 80%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Portfolio turnover rate</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">24<span>%</span></td> </tr> </table>
1696770545
37
0.24
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 46, 89); font-size: 11.52pt; font-weight: bold; margin-bottom: 0px;">Graphical Representation of Holdings</div> <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin-bottom: 16pt;">The tables below show the investment makeup of the Portfolio; percentages indicated are based on the Portfolio's net assets.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Marvell Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Intel Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Industries </div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Semiconductors & Semiconductor Equipment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">58.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Software</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">12.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Interactive Media & Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Technology Hardware, Storage & Peripherals</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">5.2<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Broadline Retail</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Entertainment</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Electronic Equipment, Instruments & Components</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.9<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">IT Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.7<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Aerospace & Defense</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">2.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Financial Services</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">Other</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">(1.1<span>)</span><span>%</span></td> </tr> </table>
<div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: rgb(0, 46, 89); letter-spacing: 1.25px; font-size: 9pt; border-bottom-color: rgb(0, 0, 0); text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt; font-weight: bold; text-transform: none;">Top Ten Holdings and/or Issuers<sup style="font-size: 10px;">*</sup></div>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Micron Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">8.5<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Marvell Technology, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">7.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Intel Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Applied Materials, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Lam Research Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">6.4<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Advanced Micro Devices, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.6<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">NVIDIA Corp.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Texas Instruments, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.8<span>%</span></td> </tr>
<tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);">
<td style="break-inside: avoid-page; vertical-align: middle; text-align: left; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">Amazon.com, Inc.</td>
<td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 6pt 3pt 3pt 3pt;">3.5<span>%</span></td> </tr> </table>
<table style="width: 100%; border-collapse: collapse; break-inside: avoid;">
<tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;">
<td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Excluding short-term investments</td> </tr> </table>
0.085
0.070
0.070
0.066
0.064
0.064
0.046
0.040
0.038
0.035
0.585
0.128
0.067
0.052
0.048
0.036
0.029
0.027
0.025
0.014
-0.011
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.
The FTSE Global Core Infrastructure 50/50 Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization-weighted index of worldwide infrastructure and infrastructure-related securities. Constituent weights are adjusted semi-annually according to three broad industry sectors: 50% utilities, 30% transportation, and a 20% mix of other sectors.
The Morningstar Infrastructure Category Average is representative of funds that invest more than 60% of their assets in stocks of companies engaged in infrastructure activities. Industries considered to be part of the infrastructure sector include: oil & gas midstream; waste management; airports; integrated shipping; railroads; shipping & ports; trucking; engineering & construction; infrastructure operations; and the utilities sector. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
The Bloomberg 5-10 Year Taxable Municipal Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is the 5-10 year component of the Bloomberg Taxable Municipal Bond Index.
Less than one-tenth of a percent.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.
The FTSE Global Core Infrastructure 50/50 Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization-weighted index of worldwide infrastructure and infrastructure-related securities. Constituent weights are adjusted semi-annually according to three broad industry sectors: 50% utilities, 30% transportation, and a 20% mix of other sectors.
The Morningstar Infrastructure Category Average is representative of funds that invest more than 60% of their assets in stocks of companies engaged in infrastructure activities. Industries considered to be part of the infrastructure sector include: oil & gas midstream; waste management; airports; integrated shipping; railroads; shipping & ports; trucking; engineering & construction; infrastructure operations; and the utilities sector. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Less than one-tenth of a percent.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected MSCI Emerging Markets Index (Net), which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.
The Morningstar Diversified Emerging Markets Category Average is representative of funds that tend to divide their assets among 20 or more nations, although they tend to focus on the emerging markets of Asia and Latin America rather than on those of the Middle East, Africa, or Europe. These funds invest predominantly in emerging market equities, but some funds also invest in both equities and fixed income investments from emerging markets. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Not annualized.
The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected MSCI Emerging Markets Index (Net), which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI Emerging Markets Index (Net) is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.
The Morningstar Diversified Emerging Markets Category Average is representative of funds that tend to divide their assets among 20 or more nations, although they tend to focus on the emerging markets of Asia and Latin America rather than on those of the Middle East, Africa, or Europe. These funds invest predominantly in emerging market equities, but some funds also invest in both equities and fixed income investments from emerging markets. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values.
The U.S. Equity Yield Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the MSCI USA High Dividend Yield Index and the MSCI USA Minimum Volatility (USD) Index weighted at 60% and 40%, respectively. The MSCI USA High Dividend Yield Index is based on the MSCI USA Index and includes large- and mid-cap stocks. The MSCI USA High Dividend Yield Index is designed to reflect the performance of equities in the MSCI USA Index (excluding real estate investment trusts) with higher dividend income and quality characteristics than average dividend yields that are both sustainable and persistent. The MSCI USA Minimum Volatility (USD) Index aims to reflect the performance characteristics of a minimum variance strategy applied to the large- and mid-cap U.S. equity universe. The MSCI USA Minimum Volatility (USD) Index is calculated by optimizing the MSCI USA Index in U.S. dollars for the lowest absolute risk (within a given set of constraints).
The Morningstar Large Value Category Average is representative of funds that invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values.
The U.S. Equity Yield Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the MSCI USA High Dividend Yield Index and the MSCI USA Minimum Volatility (USD) Index weighted at 60% and 40%, respectively. The MSCI USA High Dividend Yield Index is based on the MSCI USA Index and includes large- and mid-cap stocks. The MSCI USA High Dividend Yield Index is designed to reflect the performance of equities in the MSCI USA Index (excluding real estate investment trusts) with higher dividend income and quality characteristics than average dividend yields that are both sustainable and persistent. The MSCI USA Minimum Volatility (USD) Index aims to reflect the performance characteristics of a minimum variance strategy applied to the large- and mid-cap U.S. equity universe. The MSCI USA Minimum Volatility (USD) Index is calculated by optimizing the MSCI USA Index in U.S. dollars for the lowest absolute risk (within a given set of constraints).
The Morningstar Large Value Category Average is representative of funds that invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The MSCI USA IMI Utilities 25/50 Index (Gross), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a modified market capitalization-weighted index of stocks designed to measure the performance of utilities companies in the MSCI U.S. Investable Market 2500 Index.
The Morningstar Utilities Category Average is representative of funds that seek capital appreciation by investing primarily in equity securities of U.S. or non-U.S. public utilities including electric, gas, and telephone-service providers. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The MSCI USA IMI Utilities 25/50 Index (Gross), which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a modified market capitalization-weighted index of stocks designed to measure the performance of utilities companies in the MSCI U.S. Investable Market 2500 Index.
Not annualized.
The Morningstar Utilities Category Average is representative of funds that seek capital appreciation by investing primarily in equity securities of U.S. or non-U.S. public utilities including electric, gas, and telephone-service providers. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.
The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Blended Benchmark Index is comprised of the MSCI World Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.
Morningstar Global Moderate Allocation Category Average funds seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The ICE BofA U.S. High Yield Constrained Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market value-weighted index of all domestic and Yankee high-yield bonds, including deferred interest bonds and payment-in-kind securities. Issuers included in the ICE BofA U.S. High Yield Constrained Index have maturities of one year or more and have a credit rating lower than BBB-/Baa3, but are not in default. No single issuer may constitute greater than 2% of the ICE BofA U.S. High Yield Constrained Index.
The Portfolio has selected the MSCI World Index (Net) to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.
The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Blended Benchmark Index is comprised of the MSCI World Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.
Morningstar Global Moderate Allocation Category Average funds seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
The Morningstar High Yield Bond Category Average is representative of funds that concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These funds primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P Balanced Equity and Bond - Conservative Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of a position in S&P 500 Total Return Index (25%) and a position in the S&P U.S. Treasury Bond 7-10 Year Index (75%).
The Barclay Hedge Fund Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a measure of the average return of all hedge funds (excepting Funds of Funds) in the Barclay database. The index is simply the arithmetic average of the net returns of all the funds that have reported that month.
The NYLIM Hedge Multi-Strategy Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, seeks to replicate the risk-adjusted return characteristics of the collective hedge funds using various hedge fund investment styles, including long/short equity, global macro, market neutral, event-driven, fixed income arbitrage and emerging markets.
The Morningstar Multistrategy Category Average is representative of funds that have a majority of their assets exposed to alternative strategies. Funds in this category include both funds with static allocations to alternative strategies and funds tactically allocating among alternative strategies and asset classes. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P Balanced Equity and Bond - Conservative Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of a position in S&P 500 Total Return Index (25%) and a position in the S&P U.S. Treasury Bond 7-10 Year Index (75%).
The Barclay Hedge Fund Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a measure of the average return of all hedge funds (excepting Funds of Funds) in the Barclay database. The index is simply the arithmetic average of the net returns of all the funds that have reported that month.
Excluding short-term investments
The NYLIM Hedge Multi-Strategy Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, seeks to replicate the risk-adjusted return characteristics of the collective hedge funds using various hedge fund investment styles, including long/short equity, global macro, market neutral, event-driven, fixed income arbitrage and emerging markets.
The Morningstar Multistrategy Category Average is representative of funds that have a majority of their assets exposed to alternative strategies. Funds in this category include both funds with static allocations to alternative strategies and funds tactically allocating among alternative strategies and asset classes. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Janus Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is comprised of the S&P 500® Index and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.
The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Janus Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is comprised of the S&P 500® Index and the Bloomberg U.S. Aggregate Bond Index weighted 60%/40%, respectively.
The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The ICE BofA U.S. Convertible Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization weighted index of domestic corporate convertible securities. In order to be included in the ICE BofA U.S. Convertible Index, bonds and preferred stocks must be convertible only to common stock.
The Morningstar Convertibles Category Average is representative of funds that are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The ICE BofA U.S. Convertible Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization weighted index of domestic corporate convertible securities. In order to be included in the ICE BofA U.S. Convertible Index, bonds and preferred stocks must be convertible only to common stock.
The Morningstar Convertibles Category Average is representative of funds that are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Not annualized.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The ICE BofA U.S. Convertible Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market-capitalization weighted index of domestic corporate convertible securities. In order to be included in the ICE BofA U.S. Convertible Index, bonds and preferred stocks must be convertible only to common stock.
The Morningstar Convertibles Category Average is representative of funds that are designed to offer some of the capital-appreciation potential of stock portfolios while also supplying some of the safety and yield of bond portfolios. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the MSCI EAFE® Index (Net) to represent a broad measure of market performance, and it is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America.
The Morningstar Foreign Large Growth Category Average is representative of funds that focus on high-priced growth stocks, mainly outside of the United States. Most of these funds divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These funds primarily invest in stocks that have market caps in the top 70% of each economically integrated market and will have less than 20% of assets invested in U.S. stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
The ICE BofA U.S. High Yield Constrained Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market value-weighted index of all domestic and Yankee high-yield bonds, including deferred interest bonds and payment-in-kind securities. Issuers included in the ICE BofA U.S. High Yield Constrained Index have maturities of one year or more and have a credit rating lower than BBB-/Baa3, but are not in default. No single issuer may constitute greater than 2% of the ICE BofA U.S. High Yield Constrained Index.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the MSCI EAFE® Index (Net) to represent a broad measure of market performance, and it is generally representative of the market sectors or types of investments in which the Portfolio invests. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America.
The Morningstar Foreign Large Growth Category Average is representative of funds that focus on high-priced growth stocks, mainly outside of the United States. Most of these funds divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These funds primarily invest in stocks that have market caps in the top 70% of each economically integrated market and will have less than 20% of assets invested in U.S. stocks. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Excluding short-term investments
The Morningstar High Yield Bond Category Average is representative of funds that concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These funds primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the S&P 500® Index, which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). The foregoing trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by New York Life Investment Management LLC. The S&P 500® Index is a product of S&P Dow Jones Indices LLC and has been licensed for use by New York Life Investment Management LLC. NYLI VP S&P 500 Index Portfolio is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P nor their respective affiliates make any representation regarding the advisability of investing in such product(s).
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Less than 0.5%.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the S&P 500® Index, which represents a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). The foregoing trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by New York Life Investment Management LLC. The S&P 500® Index is a product of S&P Dow Jones Indices LLC and has been licensed for use by New York Life Investment Management LLC. NYLI VP S&P 500 Index Portfolio is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P nor their respective affiliates make any representation regarding the advisability of investing in such product(s).
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Less than 0.5%.
Excluding short-term investments
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the MSCI World Index (Net), to represent a broad measure of market performance. The MSCI World Index (Net) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.
The S&P Global Natural Resources Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, includes 90 of the largest publicly-traded companies in natural resources and commodities businesses that meet specific investability requirements, offering investors diversified and investable equity exposure to agribusiness, energy, and metals & mining.
The Morningstar Natural Resources Category Average is representative of funds that invest primarily on commodity-based industries such as energy, chemicals, minerals, and forest products in the United States or outside of the United States. Some funds invest across this spectrum to offer broad natural-resources exposure. Others concentrate heavily or even exclusively in specific industries. Funds that concentrate primarily in energy-related industries are part of the equity energy category. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 2000® Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000® Index companies with higher price-to-book ratios and higher forecasted growth values.
The Morningstar Small Growth Category Average is representative of funds that focus on faster-growing companies whose shares are at the lower end of the market-capitalization range. These funds tend to favor companies in up-and-coming industries or young firms in their early growth stages. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 2000® Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000® Index companies with higher price-to-book ratios and higher forecasted growth values.
The Morningstar Small Growth Category Average is representative of funds that focus on faster-growing companies whose shares are at the lower end of the market-capitalization range. These funds tend to favor companies in up-and-coming industries or young firms in their early growth stages. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Annualized.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values.
The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values.
The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 2000® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap segment of the U.S. equity universe. It is a subset of the Russell 3000® Index and includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.
The Morningstar Small Blend Category Average is representative of funds that favor U.S. firms at the smaller end of the market-capitalization range. Some aim to own an array of value and growth stocks while others employ a discipline that leads to holdings with valuations and growth rates close to the small-cap averages. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
The Morningstar Multisector Bond Category Average is representative of funds that seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. These portfolios typically hold 35% to 65% of bonds assets in securities that are not rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB (considered speculative for taxable bonds) and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 2000® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the small-cap segment of the U.S. equity universe. It is a subset of the Russell 3000® Index and includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.
The Morningstar Small Blend Category Average is representative of funds that favor U.S. firms at the smaller end of the market-capitalization range. Some aim to own an array of value and growth stocks while others employ a discipline that leads to holdings with valuations and growth rates close to the small-cap averages. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000® Index and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership.
The S&P 500® Index is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000® Index and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership.
The S&P 500® Index is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Growth Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Growth Category Average is representative of funds that invest primarily in big U.S. companies that are projected to grow faster than other large-cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. Growth is defined based on fast growth and high valuations. Most of these funds focus on companies in rapidly expanding industries. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance, and is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Morningstar Multisector Bond Category Average is representative of funds that seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. These portfolios typically hold 35% to 65% of bonds assets in securities that are not rated by a major agency such as Standard & Poor’s or Moody’s at the level of BB (considered speculative for taxable bonds) and below. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The NYSE® Technology Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is an equal-dollar weighted Index designed to objectively represent the technology sector by holding 35 of the leading U.S. technology-related companies.
The Morningstar Technology Category Average is representative of funds that buy high-tech businesses in the U.S. or outside of the U.S. Most concentrate on computer, semiconductor, software, networking, and Internet stocks. A few also buy medical-device and biotechnology stocks, and some concentrate on a single technology industry. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The NYSE® Technology Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is an equal-dollar weighted Index designed to objectively represent the technology sector by holding 35 of the leading U.S. technology-related companies.
The Morningstar Technology Category Average is representative of funds that buy high-tech businesses in the U.S. or outside of the U.S. Most concentrate on computer, semiconductor, software, networking, and Internet stocks. A few also buy medical-device and biotechnology stocks, and some concentrate on a single technology industry. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Bloomberg U.S. TIPS Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, includes all publicly issued, U.S. Treasury inflation-protected securities that have at least one year remaining to maturity and are rated investment grade.
The Morningstar Inflation-Protected Bond Category Average is representative of funds that invest primarily in debt securities that adjust their principal values in line with the rate of inflation. These bonds can be issued by any organization, but the U.S. Treasury is currently the largest issuer for these types of securities. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Bloomberg U.S. TIPS Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, includes all publicly issued, U.S. Treasury inflation-protected securities that have at least one year remaining to maturity and are rated investment grade.
The Morningstar Inflation-Protected Bond Category Average is representative of funds that invest primarily in debt securities that adjust their principal values in line with the rate of inflation. These bonds can be issued by any organization, but the U.S. Treasury is currently the largest issuer for these types of securities. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
Not annualized.
The Morningstar LSTA US Leveraged Loan Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad index designed to reflect the performance of U.S. dollar facilities in the leveraged loan market.
The Morningstar Bank Loan Category Average is representative of funds that invest in floating-rate bank loans instead of bonds. In exchange for their credit risk, these loans offer high interest payments that typically float above a common short-term benchmark. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Morningstar LSTA US Leveraged Loan Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad index designed to reflect the performance of U.S. dollar facilities in the leveraged loan market.
The Morningstar Bank Loan Category Average is representative of funds that invest in floating-rate bank loans instead of bonds. In exchange for their credit risk, these loans offer high interest payments that typically float above a common short-term benchmark. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
The Average Lipper Variable Products U.S. Government Money Market Portfolio is an equally weighted performance average consisting of funds that invest 99.5% of their assets in cash, government securities and/or repurchase agreements that are collateralized solely by government securities or cash, and have a weighted average maturity of 60 days or less. These funds intend to keep a constant net asset value.
The Morningstar Prime Money Market Category Average is representative of funds that invest in short-term money market securities in order to provide a level of current income that is consistent with the preservation of capital. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Less than one-tenth of a percent.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Moderate Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 45%,15% and 40%, respectively.
The Morningstar Global Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
Excluding short-term investments
The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Moderate Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 45%,15% and 40%, respectively.
The Morningstar Global Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Growth Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%, 20% and 20%, respectively.
The Morningstar Global Moderately Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately aggressive strategies prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure between 70% and 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
The Bloomberg U.S. Aggregate Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Growth Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%, 20% and 20%, respectively.
The Morningstar Global Moderately Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately aggressive strategies prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure between 70% and 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Bloomberg U.S. Aggregate Bond Index is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
The Conservative Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Bloomberg U.S. Aggregate Bond Index, the S&P 500® Index and the MSCI EAFE® Index (Net) weighted 60%, 30% and 10%,respectively.
The Morningstar Global Moderately Conservative Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately conservative strategies prioritize preservation of capital over appreciation. They typically expect volatility similar to a strategic equity exposure between 30% and 50%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Bloomberg U.S. Aggregate Bond Index is generally representative of the market sectors or types of investments in which the Portfolio invests. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
The Conservative Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Bloomberg U.S. Aggregate Bond Index, the S&P 500® Index and the MSCI EAFE® Index (Net) weighted 60%, 30% and 10%,respectively.
The Morningstar Global Moderately Conservative Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderately conservative strategies prioritize preservation of capital over appreciation. They typically expect volatility similar to a strategic equity exposure between 30% and 50%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
Annualized.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
The Equity Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500® Index and the MSCI EAFE® Index (Net) weighted 75% and 25%, respectively.
Not annualized.
The Portfolio has selected the Bloomberg U.S. Aggregate Bond Index to represent a broad measure of market performance. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities.
The Morningstar Global Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These aggressive strategies typically allocate at least 10% to equities of foreign companies and prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure of more than 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The MSCI EAFE® Index (Net), which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of international stocks representing the developed world outside of North America.
The Equity Allocation Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the S&P 500® Index and the MSCI EAFE® Index (Net) weighted 75% and 25%, respectively.
The Morningstar Global Aggressive Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These aggressive strategies typically allocate at least 10% to equities of foreign companies and prioritize capital appreciation over preservation. They typically expect volatility similar to a strategic equity exposure of more than 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
The Bloomberg 5-10 Year Taxable Municipal Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is the 5-10 year component of the Bloomberg Taxable Municipal Bond Index.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell Midcap® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the mid-cap segment of the U.S. equity universe. The Russell Midcap® Index is a subset of the Russell 1000® Index and includes approximately 800 of the smallest companies based on a combination of their market cap and current index membership. The Russell Midcap® Index represents approximately 27% of the total market capitalization of the Russell 1000® Index companies.
The S&P MidCap 400® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market capitalization-weighted index of common stocks representing the mid-cap U.S. equity market.
The Morningstar Mid-Cap Blend Category Average is representative of funds that invest primarily in U.S. stocks of various sizes and styles, giving it a middle-of-the-road profile. The U.S. mid-cap range for market capitalization typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
The Morningstar Intermediate Core Bond Category Average is representative of funds that invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell Midcap® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the mid-cap segment of the U.S. equity universe. The Russell Midcap® Index is a subset of the Russell 1000® Index and includes approximately 800 of the smallest companies based on a combination of their market cap and current index membership. The Russell Midcap® Index represents approximately 27% of the total market capitalization of the Russell 1000® Index companies.
The S&P MidCap 400® Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, is a market capitalization-weighted index of common stocks representing the mid-cap U.S. equity market.
The Morningstar Mid-Cap Blend Category Average is representative of funds that invest primarily in U.S. stocks of various sizes and styles, giving it a middle-of-the-road profile. The U.S. mid-cap range for market capitalization typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market. The blend style is assigned to funds where neither growth nor value characteristics predominate. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Excluding short-term investments
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The S&P 500® Index, which represents a broad measure of market performance, is generally representative of the market sectors or types of investments in which the Portfolio invests. S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance.
The Morningstar Large Blend Category Average is representative of funds that represent the overall U.S. stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds tend to invest across the spectrum of U.S. industries, and owing to their broad exposure, the funds' returns are often similar to those of the S&P 500® Index. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Annualized.
Excludes the fees and expenses of the acquired (underlying) funds in which the Portfolio invested.
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values.
The Bloomberg U.S. Intermediate Government/Credit Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of U.S. dollar-denominated U.S. treasuries, government-related and investment grade U.S. corporate securities that have a remaining maturity of greater than one year and less than ten years.
The Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Russell 1000® Value Index and the Bloomberg U.S. Intermediate Government/Credit Bond Index weighted 60%/40%, respectively.
The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Excluding short-term investments
Not annualized.
The Portfolio has selected the Russell 3000® Index to represent a broad measure of market performance. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.
The Russell 1000® Value Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000® Index companies with lower price-to-book ratios and lower expected growth values.
The Bloomberg U.S. Intermediate Government/Credit Bond Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, measures the performance of U.S. dollar-denominated U.S. treasuries, government-related and investment grade U.S. corporate securities that have a remaining maturity of greater than one year and less than ten years.
The Balanced Composite Index, which is generally representative of the market sectors or types of investments in which the Portfolio invests, consists of the Russell 1000® Value Index and the Bloomberg U.S. Intermediate Government/Credit Bond Index weighted 60%/40%, respectively.
The Morningstar Moderate Allocation Category Average is representative of funds in allocation categories that seek to provide both income and capital appreciation by primarily investing in multiple asset classes, including stocks, bonds, and cash. These moderate strategies seek to balance preservation of capital with appreciation. They typically expect volatility similar to a strategic equity exposure between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested.
Does not include any separate account or policy fees or charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher.
Excluding short-term investments
Annualized.