Shareholder Report
Jun. 30, 2026
USD ($)
Holding
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment
)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 27 | 0.51 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 89 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 7 % |
Portfolio holdings by fund type
(percent of net assets)| Growth funds | 80.31 | % |
| Growth-and-income funds | 19.77 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was
appointed
as the
fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment
)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 26 | 0.51 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 450 |
| Total number of portfolio holdings | 8 |
| Portfolio turnover rate | 7 % |
Portfolio holdings by fund type
(percent of net assets)| Growth-and-income funds | 40.18 | % |
| Fixed income funds | 29.83 | |
| Growth funds | 10.07 | |
| Equity-income funds | 9.98 | |
| Asset allocation funds | 5.02 | |
| Balanced funds | 5.00 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was
appointed
as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class P2 | $ 31 | 0.61 % * |
*Annualized.
Key fund statistics
| Fund net assets (in thousands) | $ 1,791,623 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 18 % |
Portfolio holdings by fund type
(percent of net assets)
*Includes derivatives.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment
)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class P2 | $ 31 | 0.61 % * |
*Annualized.
Key fund statistics
| Fund net assets (in thousands) | $ 1,310,595 |
| Total number of portfolio holdings | 24 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
*Includes derivatives.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the
independent
trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class P2 | $ 33 | 0.63 % * |
*Annualized.
Key fund statistics
| Fund net assets (in thousands) | $ 357,545 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 17 % |
Portfolio holdings by fund type
*Includes derivatives.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment
)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.06 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 2 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 5 % |
Portfolio holdings by fund type
Changes in and disagreements with accountants
On December 10, 2025,
PricewaterhouseCoopers
LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the period May 1, 2024 (commencement of operations) through December 31, 2024, fiscal year ended December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 3 | 0.05 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 2 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 5 % |
Portfolio holdings by fund type
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee,
as
part of a broader effort to update board oversight and fund operations. At no point during the period May 1, 2024 (commencement of operations) through December 31, 2024, fiscal year ended December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 3 | 0.06 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 2 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 5 % |
Portfolio holdings by fund type
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The
change
in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the period May 1, 2024 (commencement of operations) through December 31, 2024, fiscal year ended December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 3 | 0.05 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 2 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 5 % |
Portfolio holdings by fund type
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as
the
fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the period May 1, 2024 (commencement of operations) through December 31, 2024, fiscal year ended December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.06 % * |
*Annualized.
Key fund statistics
| Fund net assets (in thousands) | $ 698 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 3 | 0.05 % * |
*Annualized.
Key fund statistics
| Fund net assets (in thousands) | $ 698 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment
)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 3 | 0.05 % * |
*Annualized.
Key fund statistics
| Fund net assets (in thousands) | $ 698 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 8 | 0.16 % * |
*Annualized.
Key fund statistics
| Fund net assets (in thousands) | $ 698 |
| Total number of portfolio holdings | 17 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.06 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 1 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 6 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 3 | 0.05 % * |
Key fund statistics
| Fund net assets (in millions) | $ 1 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 6 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 3 | 0.05 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 1 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 6 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 15 | 0.28 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 1 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 6 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 10 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 10 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 10 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 10 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 15 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 10 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.03 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 15 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 10 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.03 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 15 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 10 % |
Portfolio holdings by fund type
(perc
ent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 8 | 0.15 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 15 |
| Total number of portfolio holdings | 20 |
| Portfolio turnover rate | 10 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.05 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 21 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 23 % |
Portfolio holdin
(percent of net assets)gs by
fund type
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 21 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 23 % |
Portfolio hold
(percent of net assets)ings
by fund type
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 21 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 23 % |
Portfolio holdings by fund type
(percent of ne
t assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 7 | 0.13 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 21 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 23 % |
Portfolio holdings by
(percent of net assets) fund t
ype
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 4 | 0.07 % * |
*Annualized.
Key fund statist
ic
s| Fund net assets (in millions) | $ 23 |
| Total number of portfolio holdings | 26 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 23 |
| Total number of portfolio holdings | 26 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagre
emen
ts with accountantsOn December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investme
nt)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 23 |
| Total number of portfolio holdings | 26 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 28 | 0.54 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 23 |
| Total number of portfolio holdings | 26 |
| Portfolio turnover rate | 16 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements w
ith a
ccountantsOn December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,00
0 investm
ent)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.05 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 40 |
| Total number of portfolio holdings | 24 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 in
vestmen
t)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 1 | 0.02 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 40 |
| Total number of portfolio holdings | 24 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 1 | 0.02 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 40 |
| Total number of portfolio holdings | 24 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements
with
accountantsOn December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetica
l $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 26 | 0.51 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 40 |
| Total number of portfolio holdings | 24 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.06 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 47 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 47 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 47 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 27 | 0.53 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 47 |
| Total number of portfolio holdings | 25 |
| Portfolio turnover rate | 12 % |
Portfolio holdings by fund type
(percent of net assets)
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.06 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 26 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 15 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 26 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 15 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 26 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 15 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Share class |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 27 |
0.54 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 26 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 15 % |
Portfolio holdings by fund type
*Less than 0.01%.
Changes in and disagreements with accountants
On December 10, 2025
, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.06 % * |
*Annualized.
Key fund sta
ti
stics| Fund net assets (in millions) | $ 41 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 8 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 46.36 | % |
| Growth-and-income funds | 21.41 | |
| Equity-income funds | 18.65 | |
| Balanced funds | 11.68 | |
| Growth funds | 1.94 | |
| Other assets less liabilities | (0.04 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(bas
ed on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage o f a $10,0 00 investment |
| Class 1A | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 41 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 8 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 46.36 | % |
| Growth-and-income funds | 21.41 | |
| Equity-income funds | 18.65 | |
| Balanced funds | 11.68 | |
| Growth funds | 1.94 | |
| Other assets less liabilities | (0.04 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 41 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 8 % |
Portfolio holdings by fund
(percent of net assets) ty
pe| Fixed income funds | 46.36 | % |
| Growth-and-income funds | 21.41 | |
| Equity-income funds | 18.65 | |
| Balanced funds | 11.68 | |
| Growth funds | 1.94 | |
| Other assets less liabilities | (0.04 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 28 | 0.55 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 41 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 8 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 46.36 | % |
| Growth-and-income funds | 21.41 | |
| Equity-income funds | 18.65 | |
| Balanced funds | 11.68 | |
| Growth funds | 1.94 | |
| Other assets less liabilities | (0.04 | ) |
| Total | 100.00 | % |
Changes in and disagreements wit
h acco
untantsOn December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 3 | 0.05 % * |
Key fund statistics
| Fund net assets (in millions) | $ 144 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 7 % |
Portfolio holdings by fund type
| Fixed income funds | 49.70 | % |
| Equity-income funds | 20.90 | |
| Growth-and-income funds | 18.99 | |
| Balanced funds | 10.49 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, P
ricewaterhou
seCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s
independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.04 % * |
Key fund statistics
| Fund net assets (in millions) | $ 144 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 7 % |
Portfolio holdings by fund type
| Fixed income funds | 49.70 | % |
| Equity-income funds | 20.90 | |
| Growth-and-income funds | 18.99 | |
| Balanced funds | 10.49 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with ac
cou
ntantsOn December 10, 2025, P
ricewaterhouseCoope
rs LLP (“PwC”) was dismissed and Deloitte & Touche LLP
was
appointed as the fund’s independent registered public accounting firm for the fiscal yea
r ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 144 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 7 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 49.70 | % |
| Equity-income funds | 20.90 | |
| Growth-and-income funds | 18.99 | |
| Balanced funds | 10.49 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 28 | 0.55 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 144 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 7 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 49.70 | % |
| Equity-income funds | 20.90 | |
| Growth-and-income funds | 18.99 | |
| Balanced funds | 10.49 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 538 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate | 4 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 51.76 | % |
| Equity-income funds | 25.26 | |
| Growth-and-income funds | 14.77 | |
| Balanced funds | 8.29 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 1A | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 538 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate | 4 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 51.76 | % |
| Equity-income funds | 25.26 | |
| Growth-and-income funds | 14.77 | |
| Balanced funds | 8.29 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 2 | $ 2 | 0.04 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 538 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate | 4 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 51.76 | % |
| Equity-income funds | 25.26 | |
| Growth-and-income funds | 14.77 | |
| Balanced funds | 8.29 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during
the
fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.What were the fund costs for the last six months?
(based on a hypothetical $10,000 investment)| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class 4 | $ 27 | 0.53 % * |
*Annualized.
Key fund statistics
| Fund net assets (in millions) | $ 538 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate | 4 % |
Portfolio holdings by fund type
(percent of net assets)| Fixed income funds | 51.76 | % |
| Equity-income funds | 25.26 | |
| Growth-and-income funds | 14.77 | |
| Balanced funds | 8.29 | |
| Other assets less liabilities | (0.08 | ) |
| Total | 100.00 | % |
Changes in and disagreements with accountants
On December 10, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte & Touche LLP was appointed as the fund’s independent registered public accounting firm for the fiscal year ending December 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended December 31, 2024 and December 31, 2025 and the subsequent interim period through February 13, 2026, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
| [1] | Annualized. |