Putnam Allstate Advisor

Putnam Research Subaccount

The subaccount seeks capital appreciation.

Fund description

The subaccount invests in stocks representing the best ideas of Putnam's global equity research analysts. The portfolio typically consists of large, U.S. companies believed to be worth more than their current stock prices indicate. The fund is managed with no predetermined style bias; its portfolio may contain both growth and value stocks.

Sales story

Seeking to capitalize on the expertise of Putnam's research teamA best-ideas fund: The fund represents the stock selections of Putnam's Global Equity Research Group, whose analysts cover more than 1,000 companies.A flexible strategy: The fund can own growth- or value-style stocks, allowing it to seek opportunities regardless of which style is in favor.A rigorous process: The fund's experienced managers use rigorous fundamental investment research to oversee the portfolio and manage risk.

Management team

Daily pricing as of 04/19/18

with optional enhanced death benefits
Unit Value $20.76173 $20.171921
Unit Value Change -0.092316 -0.089777

Lipper ranking ‡ as of 03/31/18

Category: Large-Cap Core Funds

  Percentile ranking Rank/Funds in category
10 yrs. 10% 13/133
1 yr. 30% 54/182
3 yrs. 53% 91/174
5 yrs. 27% 43/162

Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Quick facts as of 03/31/18

Fiscal Year End December
Asset Class Putnam Allstate Advisor
Subaccount Status Open to new investors
Number of issues 175
Turnover (fiscal year end) 94%
Net Assets $48M
Inception Date 10/01/98

Performance

Performance as of 03/31/18

Annualized Performance Last Quarter Year
to Date
1 yr. 3 yrs. 5 yrs. 10 yrs. Life of
subaccount
Restated performance
Unit Value -0.76% -0.76% 13.36% 7.94% 11.74% 8.61% 5.08%
Standardized -9.44% -9.44% 3.69% 3.03% 8.71% 5.75% 1.81%
With optional enhanced death benefit
Unit Value -0.79% -0.79% 13.19% 7.77% 11.57% 8.44% 4.92%
Standardized -9.48% -9.48% 3.53% 2.86% 8.53% 5.57% 1.59%
Actual performance
Unit Value -0.76% -0.76% 13.36% 7.94% 11.74% 8.61% 3.83%
Standardized -9.44% -9.44% 3.69% 3.03% 8.71% 5.75% -0.45%
With optional enhanced death benefit
Unit Value -0.79% -0.79% 13.19% 7.77% 11.57% 8.44% 3.61%
Standardized -9.48% -9.48% 3.53% 2.86% 8.53% 5.57% -0.81%

Annual Performance at NAV

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-39.31% 31.52% 14.92% -2.97% 16.44% 31.70% 13.42% -2.78% 8.71% 21.81%
With optional enhanced death benefit
-39.41% 31.32% 14.75% -3.12% 16.26% 31.50% 13.25% -2.92% 8.54% 21.63%

Restated performance

Monthly as of 03/31/18

Unit Value -2.55%
Standardized -11.11%

YTD as of 04/19/18

Unit Value 1.30%
Standardized -7.54%

With optional enhanced death benefit

Monthly as of 03/31/18

Unit Value -2.56%
Standardized -11.12%

YTD as of 04/19/18

Unit Value 1.25%
Standardized -7.58%

Unit values and performance information shown apply to the specific annuity product listed, not the underlying Putnam Variable Trust fund. This information should not be used by investors who hold an interest in Putnam Variable Trust funds through a different annuity or other variable product. The unit values and performance of other variable products that offer Putnam Variable Trust funds may be higher or lower due to product charges and expenses or other factors.

Data is historical. Past performance is no guarantee of future results. More recent returns may be less or more than those shown. Investment return and principal value will fluctuate, and you may have a gain or a loss when you sell your units.

Recent performance benefited from a settlement from Household International, a unit of HSBC Holdings Plc.

Returns shown for the subaccounts for periods before their inception are derived from the historical performance of the underlying fund, adjusted to reflect the mortality, expense risk, and surrender charges applicable to this product and do not factor in the annual $30 contract maintenance fee. Additional riders and options for insurance-related charges will increase expenses and lower returns. Please see the prospectus for details. For a portion of the period, subaccounts may have limited expenses, without which returns would have been lower.

Variable annuities are long-term investments designed for retirement purposes. Putnam Hartford products are flexible-premium variable annuities issued by Hartford Life and Annuity Insurance Company, Simsbury, CT.

Putnam Allstate variable annuities are flexible-premium deferred variable annuities issued by Allstate Life Insurance Company (Allstate Life); underwritten by Allstate Distributors, L.L.C., both of Northbrook, IL; and sold through registered representatives or bank employees who are licensed insurance agents. Please check for availability in your specific state.

These policies have limitations and are sold by prospectus only. The prospectus contains details on the variable annuity, the subaccounts, contract features, fees, expenses, and other pertinent information.

Investors should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus containing this and other information for any variable annuity or variable life product that invests in Putnam Variable Trust funds, contact your financial advisor for a contract prospectus and prospectus for the underlying funds. You may also call Hartford at 1-800-521-0538 or Allstate at 1-800-390-1277. Read the prospectuses carefully before investing.

For the most recent month-end performance, please call Hartford at 1-800-521-0538 or Allstate at 1-800-390-1277.

Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.

The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Risk Characteristics as of 03/31/18

Alpha (%) -1.79
Beta 1.03
R Squared 0.96
Standard Deviation (3 yrs.) 10.62

Holdings

Top 10 holdings as of 03/31/18

Microsoft Corp 3.52%
Apple 3.34%
Amazon.Com 2.95%
Alphabet 2.90%
Bank Of America Corp 2.44%
Facebook 1.73%
Home Depot The 1.62%
UnitedHealth Group 1.60%
Citigroup 1.33%
JPMorgan Chase 1.27%
Top 10 holdings, total: 22.70%

Equity Holdings as of 12/31/17

APPLE INC 3.40%
MICROSOFT CORP 3.15%
ALPHABET INC-CL A 2.94%
AMAZON.COM INC 2.38%
BANK OF AMERICA CORP 2.37%
FACEBOOK INC-A 1.90%
CITIGROUP INC 1.82%
UNITEDHEALTH GROUP INC 1.82%
HOME DEPOT INC 1.79%
PEPSICO INC 1.22%
BROADCOM LTD 1.20%
JPMORGAN CHASE & CO 1.16%
JOHNSON & JOHNSON 1.15%
VISA INC-CLASS A SHARES 1.13%
DOWDUPONT INC 1.12%
BOEING CO/THE 1.11%
NXP SEMICONDUCTORS NV 1.11%
EXXON MOBIL CORP 1.09%
AMGEN INC 1.07%
CHUBB LTD 1.06%
KRAFT HEINZ CO/THE 1.04%
GOLDMAN SACHS GROUP INC 1.03%
BECTON DICKINSON AND CO 1.02%
E*TRADE FINANCIAL CORPORATION 1.00%
CATERPILLAR INC 0.97%
TEXAS INSTRUMENTS INC 0.96%
DANAHER CORP 0.95%
HONEYWELL INTERNATIONAL INC 0.93%
PRUDENTIAL PLC 0.90%
AT&T INC 0.87%
RAYTHEON COMPANY 0.85%
BLACKROCK INC 0.84%
NCSOFT CORP 0.84%
QORVO INC 0.84%
VERTEX PHARMACEUTICALS INC 0.82%
SHERWIN-WILLIAMS CO/THE 0.80%
AMERICAN INTERNATIONAL GROUP 0.79%
JAZZ PHARMACEUTICALS PLC 0.79%
PRICELINE GROUP INC/THE 0.79%
CHARTER COMMUNICATIONS INC-A 0.78%
AMERICAN TOWER CORP 0.77%
BIOGEN INC 0.76%
MCCORMICK & CO-NON VTG SHRS 0.76%
REALPAGE INC 0.76%
GILEAD SCIENCES INC 0.73%
PHILIP MORRIS INTERNATIONAL 0.73%
COMCAST CORP-CLASS A 0.71%
NORFOLK SOUTHERN CORP 0.71%
NORTHROP GRUMMAN CORP 0.71%
SUNTRUST BANKS INC 0.71%
APPLIED MATERIALS INC 0.69%
COSTCO WHOLESALE CORP 0.68%
DENTSPLY SIRONA INC 0.68%
DXC TECHNOLOGY CO 0.68%
KKR & CO LP 0.68%
KROGER CO 0.65%
BOSTON SCIENTIFIC CORP 0.64%
CONOCOPHILLIPS 0.64%
ROPER TECHNOLOGIES INC 0.64%
ADOBE SYSTEMS INC 0.63%
DOVER CORP 0.61%
FORTIVE CORP 0.61%
MASTERCARD INC - A 0.60%
ASSURED GUARANTY LTD 0.59%
HILTON WORLDWIDE HOLDINGS IN 0.58%
MOLSON COORS BREWING CO -B 0.58%
ALIBABA GROUP HOLDING-SP ADR 0.57%
TOTAL SA 0.56%
TJX COMPANIES INC 0.55%
PINNACLE FOODS INC 0.53%
WYNN RESORTS LTD 0.53%
CONSTELLATION BRANDS INC-A 0.52%
INVESCO LTD 0.52%
PIONEER NAT RES CO 0.52%
WAL-MART STORES INC 0.52%
FORTUNE BRANDS HOME & SECURI 0.51%
TENCENT HOLDINGS LTD 0.51%
AMERICAN ELECTRIC POWER 0.50%
L3 TECHNOLOGIES INC 0.50%
W.R. GRACE & CO 0.50%
ABBVIE INC 0.49%
INTERCONTINENTAL EXCHANGE IN 0.49%
ROCKWELL AUTOMATION INC 0.49%
NEXTERA ENERGY INC 0.48%
ACTIVISION BLIZZARD INC 0.47%
KION GROUP AG 0.46%
CVS HEALTH CORP 0.45%
KOMATSU LTD 0.45%
ALCOA CORP 0.44%
EXPEDIA INC 0.44%
KIMBERLY-CLARK CORP 0.44%
MONDELEZ INTERNATIONAL INC-A 0.44%
CF INDUSTRIES HOLDINGS INC 0.43%
CHURCH & DWIGHT CO INC 0.43%
ORACLE CORP 0.43%
SUNCOR ENERGY INC 0.43%
EXELON CORP 0.42%
PFIZER INC 0.42%
MICRO FOCUS INTL-SPN ADR 0.41%
YUM CHINA HOLDINGS INC 0.40%
BAXTER INTERNATIONAL INC 0.39%
CHIPOTLE MEXICAN GRILL INC 0.39%
INTUITIVE SURGICAL INC 0.39%
O'REILLY AUTOMOTIVE INC 0.39%
WASTE CONNECTIONS INC 0.39%
KINDER MORGAN INC 0.38%
MERCK & CO. INC. 0.38%
INVESTMENT TECHNOLOGY GROUP 0.37%
GAMING AND LEISURE PROPERTIE 0.36%
NIKE INC -CL B 0.36%
EOG RESOURCES INC 0.35%
FIDELITY NATIONAL INFO SERV 0.35%
PAYPAL HOLDINGS INC 0.35%
LIVE NATION ENTERTAINMENT IN 0.34%
AGILENT TECHNOLOGIES INC 0.31%
RESTAURANT BRANDS INTERN 0.31%
VERIZON COMMUNICATIONS INC 0.31%
ANADARKO PETROLEUM CORP 0.30%
HANESBRANDS INC 0.29%
ILUKA RESOURCES LTD 0.29%
SALESFORCE.COM INC 0.29%
SOUTHERN CO/THE 0.29%
BRISTOL-MYERS SQUIBB CO 0.28%
CENOVUS ENERGY INC 0.28%
DOMINION ENERGY INC 0.28%
ORBOTECH LTD 0.28%
ALBEMARLE CORP 0.27%
AMEREN CORPORATION 0.27%
LIMITED BRANDS INC 0.27%
ENI SPA 0.26%
EVERBRIDGE INC 0.25%
GODADDY INC - CLASS A 0.24%
NOBLE ENERGY INC 0.22%
WALT DISNEY CO/THE 0.22%
DISH NETWORK CORP-A 0.20%
SEVEN GENERATIONS ENERGY - A 0.20%
INSTRUCTURE INC 0.19%
NRG ENERGY INC 0.19%
AMERICAN WATER WORKS CO INC 0.18%
TOTAL SYSTEM SERVICES INC 0.18%
EQT CORP 0.17%
ENCANA CORP 0.16%
MARATHON OIL CORP 0.15%
SELECT ENERGY SERVICES INC-A 0.15%
EDISON INTERNATIONAL 0.12%
MCKESSON CORP 0.12%
SOGOU INC-ADR 0.11%
AXALTA COATING SYSTEMS LTD 0.10%
EXPRESS SCRIPTS HOLDING CO 0.10%
DELIVERY HERO AG 0.09%
P G & E CORP 0.09%
OPORTUN FIN CORP P/P SERIES H PFD 0.07%
WILLIAMS COS INC 0.07%
BRASKEM SA-SPON ADR 0.06%
CALYXT INC 0.05%
MYLAN NV 0.05%
TRONOX LTD-CL A 0.05%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.03%
OPORTUN FIN C-1 PFD CV P/P 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%

Full Portfolio Holdings as of 12/31/17

APPLE INC 3.40%
MICROSOFT CORP 3.15%
ALPHABET INC-CL A 2.94%
AMAZON.COM INC 2.38%
BANK OF AMERICA CORP 2.37%
FACEBOOK INC-A 1.90%
CITIGROUP INC 1.82%
UNITEDHEALTH GROUP INC 1.82%
HOME DEPOT INC 1.79%
PEPSICO INC 1.22%
BROADCOM LTD 1.20%
JPMORGAN CHASE & CO 1.16%
JOHNSON & JOHNSON 1.15%
VISA INC-CLASS A SHARES 1.13%
DOWDUPONT INC 1.12%
BOEING CO/THE 1.11%
NXP SEMICONDUCTORS NV 1.11%
EXXON MOBIL CORP 1.09%
AMGEN INC 1.07%
CHUBB LTD 1.06%
KRAFT HEINZ CO/THE 1.04%
GOLDMAN SACHS GROUP INC 1.03%
BECTON DICKINSON AND CO 1.02%
E*TRADE FINANCIAL CORPORATION 1.00%
CATERPILLAR INC 0.97%
TEXAS INSTRUMENTS INC 0.96%
DANAHER CORP 0.95%
HONEYWELL INTERNATIONAL INC 0.93%
PRUDENTIAL PLC 0.90%
AT&T INC 0.87%
RAYTHEON COMPANY 0.85%
BLACKROCK INC 0.84%
NCSOFT CORP 0.84%
QORVO INC 0.84%
VERTEX PHARMACEUTICALS INC 0.82%
SHERWIN-WILLIAMS CO/THE 0.80%
AMERICAN INTERNATIONAL GROUP 0.79%
JAZZ PHARMACEUTICALS PLC 0.79%
PRICELINE GROUP INC/THE 0.79%
CHARTER COMMUNICATIONS INC-A 0.78%
AMERICAN TOWER CORP 0.77%
BIOGEN INC 0.76%
MCCORMICK & CO-NON VTG SHRS 0.76%
REALPAGE INC 0.76%
GILEAD SCIENCES INC 0.73%
PHILIP MORRIS INTERNATIONAL 0.73%
COMCAST CORP-CLASS A 0.71%
NORFOLK SOUTHERN CORP 0.71%
NORTHROP GRUMMAN CORP 0.71%
SUNTRUST BANKS INC 0.71%
APPLIED MATERIALS INC 0.69%
COSTCO WHOLESALE CORP 0.68%
DENTSPLY SIRONA INC 0.68%
DXC TECHNOLOGY CO 0.68%
KKR & CO LP 0.68%
KROGER CO 0.65%
BOSTON SCIENTIFIC CORP 0.64%
CONOCOPHILLIPS 0.64%
ROPER TECHNOLOGIES INC 0.64%
ADOBE SYSTEMS INC 0.63%
DOVER CORP 0.61%
FORTIVE CORP 0.61%
MASTERCARD INC - A 0.60%
ASSURED GUARANTY LTD 0.59%
HILTON WORLDWIDE HOLDINGS IN 0.58%
MOLSON COORS BREWING CO -B 0.58%
ALIBABA GROUP HOLDING-SP ADR 0.57%
TOTAL SA 0.56%
TJX COMPANIES INC 0.55%
PINNACLE FOODS INC 0.53%
WYNN RESORTS LTD 0.53%
CONSTELLATION BRANDS INC-A 0.52%
INVESCO LTD 0.52%
PIONEER NAT RES CO 0.52%
WAL-MART STORES INC 0.52%
FORTUNE BRANDS HOME & SECURI 0.51%
TENCENT HOLDINGS LTD 0.51%
AMERICAN ELECTRIC POWER 0.50%
L3 TECHNOLOGIES INC 0.50%
W.R. GRACE & CO 0.50%
ABBVIE INC 0.49%
INTERCONTINENTAL EXCHANGE IN 0.49%
ROCKWELL AUTOMATION INC 0.49%
NEXTERA ENERGY INC 0.48%
ACTIVISION BLIZZARD INC 0.47%
KION GROUP AG 0.46%
CVS HEALTH CORP 0.45%
KOMATSU LTD 0.45%
ALCOA CORP 0.44%
EXPEDIA INC 0.44%
KIMBERLY-CLARK CORP 0.44%
MONDELEZ INTERNATIONAL INC-A 0.44%
CF INDUSTRIES HOLDINGS INC 0.43%
CHURCH & DWIGHT CO INC 0.43%
ORACLE CORP 0.43%
SUNCOR ENERGY INC 0.43%
EXELON CORP 0.42%
PFIZER INC 0.42%
MICRO FOCUS INTL-SPN ADR 0.41%
YUM CHINA HOLDINGS INC 0.40%
BAXTER INTERNATIONAL INC 0.39%
CHIPOTLE MEXICAN GRILL INC 0.39%
INTUITIVE SURGICAL INC 0.39%
O'REILLY AUTOMOTIVE INC 0.39%
WASTE CONNECTIONS INC 0.39%
KINDER MORGAN INC 0.38%
MERCK & CO. INC. 0.38%
INVESTMENT TECHNOLOGY GROUP 0.37%
GAMING AND LEISURE PROPERTIE 0.36%
NIKE INC -CL B 0.36%
EOG RESOURCES INC 0.35%
FIDELITY NATIONAL INFO SERV 0.35%
PAYPAL HOLDINGS INC 0.35%
LIVE NATION ENTERTAINMENT IN 0.34%
AGILENT TECHNOLOGIES INC 0.31%
RESTAURANT BRANDS INTERN 0.31%
VERIZON COMMUNICATIONS INC 0.31%
ANADARKO PETROLEUM CORP 0.30%
HANESBRANDS INC 0.29%
ILUKA RESOURCES LTD 0.29%
SALESFORCE.COM INC 0.29%
SOUTHERN CO/THE 0.29%
BRISTOL-MYERS SQUIBB CO 0.28%
CENOVUS ENERGY INC 0.28%
DOMINION ENERGY INC 0.28%
ORBOTECH LTD 0.28%
ALBEMARLE CORP 0.27%
AMEREN CORPORATION 0.27%
LIMITED BRANDS INC 0.27%
ENI SPA 0.26%
EVERBRIDGE INC 0.25%
GODADDY INC - CLASS A 0.24%
NOBLE ENERGY INC 0.22%
WALT DISNEY CO/THE 0.22%
DISH NETWORK CORP-A 0.20%
SEVEN GENERATIONS ENERGY - A 0.20%
INSTRUCTURE INC 0.19%
NRG ENERGY INC 0.19%
AMERICAN WATER WORKS CO INC 0.18%
TOTAL SYSTEM SERVICES INC 0.18%
EQT CORP 0.17%
ENCANA CORP 0.16%
MARATHON OIL CORP 0.15%
SELECT ENERGY SERVICES INC-A 0.15%
EDISON INTERNATIONAL 0.12%
MCKESSON CORP 0.12%
SOGOU INC-ADR 0.11%
AXALTA COATING SYSTEMS LTD 0.10%
EXPRESS SCRIPTS HOLDING CO 0.10%
DELIVERY HERO AG 0.09%
P G & E CORP 0.09%
OPORTUN FIN CORP P/P SERIES H PFD 0.07%
WILLIAMS COS INC 0.07%
BRASKEM SA-SPON ADR 0.06%
CALYXT INC 0.05%
MYLAN NV 0.05%
TRONOX LTD-CL A 0.05%
OPORTUN FIN CORP P/P 0.04%
OPORTUN FIN G-1 PFD CV P/P 0.04%
OPORTUN FIN F-1 PFD CV P/P 0.03%
CAD/USD 01/17/2018 JPMCB 0.01%
GE 20180615 C 22.00CSI 0.01%
OPORTUN FIN C-1 PFD CV P/P 0.01%
OPORTUN FIN D-1 PFD CV P/P 0.01%
OPORTUN FIN F PFD CV P/P 0.01%
AUD/USD 01/17/2018 GSFX 0.00%
CAD/USD 01/17/2018 BANKAM 0.00%
CANADIAN DOLLAR ACCOUNT 0.00%
EUR/USD 03/21/2018 CITI 0.00%
EUR/USD 03/21/2018 HSBCB 0.00%
GBP/USD 03/21/2018 JPMCB 0.00%
ILS/USD 01/17/2018 SSBT 0.00%
JPY/USD 02/22/2018 GSFX 0.00%
NOK/USD 03/21/2018 JPMCB 0.00%
OPORTUN FIN A-1 PFD CV P/P 0.00%
OPORTUN FIN B-1 PFD CV P/P 0.00%
OPORTUN FIN E-1 PFD CV P/P 0.00%
POUND STERLING CALL ACCOUNT 0.00%
S&P500 EMINI FUT MAR18 ESH8 0.00%
THE EURO EUR CALL ACCOUNT 0.00%
GE 20180615 C 24.00CSI -0.01%
RU20INTR P USL1M R 12/15/20 GS -2.35%

Prior top 10 holdings

Top 10 holdings as of 03/31/18
1: Microsoft Corp 3.52%
2: Apple 3.34%
3: Amazon.Com 2.95%
4: Alphabet 2.90%
5: Bank Of America Corp 2.44%
6: Facebook 1.73%
7: Home Depot The 1.62%
8: UnitedHealth Group 1.60%
9: Citigroup 1.33%
10: JPMorgan Chase 1.27%
Holdings represent 22.70% of portfolio
Top 10 holdings as of 02/28/18
1: Microsoft Corp 3.48%
2: Apple 3.42%
3: Alphabet 2.98%
4: Amazon.Com 2.97%
5: Bank Of America Corp 2.52%
6: Facebook 1.86%
7: UnitedHealth Group 1.63%
8: Home Depot The 1.59%
9: Citigroup 1.43%
10: Booking Holdings 1.30%
Holdings represent 23.18% of portfolio
Top 10 holdings as of 01/31/18
1: Microsoft Corp 3.35%
2: Apple 3.22%
3: Alphabet 3.03%
4: Amazon.Com 2.71%
5: Bank Of America Corp 2.38%
6: Facebook 1.85%
7: Home Depot The 1.64%
8: UnitedHealth Group 1.62%
9: Citigroup 1.41%
10: Nxp Semiconductors Nv 1.28%
Holdings represent 22.49% of portfolio
Top 10 holdings as of 12/31/17
1: Apple 3.40%
2: Microsoft Corp 3.15%
3: Alphabet 2.94%
4: Amazon.Com 2.38%
5: Bank Of America Corp 2.37%
6: Facebook 1.90%
7: Citigroup 1.82%
8: UnitedHealth Group 1.82%
9: Home Depot The 1.79%
10: Pepsico 1.22%
Holdings represent 22.79% of portfolio

Portfolio Composition as of 03/31/18

Common stock 98.62%
Cash and net other assets 1.22%
Convertible preferred stock 0.16%

Portfolio allocations will vary over time. The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

Top Industry Sectors as of 03/31/18

Information technology 26.00%
Financials 14.81%
Health care 13.15%
Consumer discretionary 11.73%
Industrials 10.11%
Consumer staples 8.12%
Energy 6.13%
Materials 3.44%
Utilities 2.61%
 
Other
3.90%
Telecommunication services 1.37%
Real estate 1.31%
Cash and net other assets 1.22%

Expenses

Sales Charges/Fees

Breakpoint Sales Charge Dealer Allowance CDSC Liab
$0 - $0 0.00% 0.00% N

Variable annuities are long-term investments designed for retirement purposes. Withdrawals prior to age 59 1/2 may be subject to a 10% IRS penalty.The fund involves the risk that the stock prices of the companies in the portfolio will fall or will fail to rise. Many factors can adversely affect a stock's performance, including both general financial market conditions and factors related to a specific company or industry.

‡ Lipper is an industry research firm whose rankings are based on total return performance, vary over time, and do not reflect the effects of sales charges. Past performance is not indicative of future results.

CDSC

Year Percent
1 7.00%
2 7.00%
3 6.00%
4 5.00%
5 4.00%
6 3.00%
7 2.00%
8+ 0.00%