Investment objective & strategy
As of April 28, 2025 · prospectusObjective. Seeks to achieve a total return before expenses that approximates the total return performance of the Standard & Poors 500 Composite Stock Index (S&P 500 Index), including reinvestment of dividends, at a risk level consistent with that of the S&P 500 Index.
Strategy. Under normal circumstances, the Portfolio invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities in the S&P 500 Index. For purposes of the Portfolio, equity securities in the S&P 500 Index may include financial instruments that derive their value from such securities. The Sub-Adviser does not utilize customary economic, financial or market analyses or other traditional investment techniques to manage the Portfolio. The Portfolio has been constructed and is maintained by utilizing a replication construction technique. That is, the Portfolio will seek to hold all 500 securities in the S&P 500 Index in the exact weight each represents in that Index. This strategy is commonly referred to as an indexing strategy. The Portfolio … Under normal circumstances, the Portfolio invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities in the S&P 500 Index. For purposes of the Portfolio, equity securities in the S&P 500 Index may include financial instruments that derive their value from such securities. The Sub-Adviser does not utilize customary economic, financial or market analyses or other traditional investment techniques to manage the Portfolio. The Portfolio has been constructed and is maintained by utilizing a replication construction technique. That is, the Portfolio will seek to hold all 500 securities in the S&P 500 Index in the exact weight each represents in that Index. This strategy is commonly referred to as an indexing strategy. The Portfolio will remain substantially fully invested in securities comprising the index even when prices are generally falling. Similarly, adverse performance of a stock will ordinarily not result in its elimination from the Portfolio. The Portfolio may become non-diversified, as defined in the Investment Company Act of 1940, as amended, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index that the Portfolio is designed to track.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $877.82M | 7.51% |
| APPLE INC | — | $771.77M | 6.60% |
| MICROSOFT CORP | — | $569.36M | 4.87% |
| AMAZON.COM INC | — | $421.42M | 3.60% |
| ALPHABET INC CL A | — | $346.78M | 2.97% |
| BROADCOM INC | — | $303.35M | 2.59% |
| ALPHABET INC CL C | — | $277.88M | 2.38% |
| META PLATFORMS INC CL A | — | $259.20M | 2.22% |
| TESLA INC | — | $216.56M | 1.85% |
| BERKSHIRE HATH-B | — | $182.01M | 1.56% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| State Street(R) SPDR(R) Portfolio S&P 500(R) ETF · SPYM | 100% | 0.02% |
| SPDR S&P 500 ETF TRUST | 100% | — |
| Deutsche DWS Equity 500 Index Portfolio | 100% | — |
Advisers
| Firm | Role |
|---|---|
| AllianceBernstein L.P. | Sub-adviser |
| Equitable Investment Management Group, LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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