Strategy. Under normal circumstances, the Portfolio invests at least 80% of its net assets, plus borrowings for investment purposes, if any, in equity securities or other instruments with similar economic characteristics of U.S. companies with large market capitalizations. For this Portfolio, a U.S. company is any company that is domiciled in the United States, and large capitalization companies are those companies with market capitalizations similar to companies in the Russell 1000 Index (the Index). The size of the companies in the Index changes with market conditions and the composition of the Index. As of December 31, 2024, the largest market capitalization of a company in the Index was approximately $3.81 trillion and the median market capitalization of a company in the … Show more… Under normal circumstances, the Portfolio invests at least 80% of its net assets, plus borrowings for investment purposes, if any, in equity securities or other instruments with similar economic characteristics of U.S. companies with large market capitalizations. For this Portfolio, a U.S. company is any company that is domiciled in the United States, and large capitalization companies are those companies with market capitalizations similar to companies in the Russell 1000 Index (the Index). The size of the companies in the Index changes with market conditions and the composition of the Index. As of December 31, 2024, the largest market capitalization of a company in the Index was approximately $3.81 trillion and the median market capitalization of a company in the Index was approximately $ 15.50 billion. Securities of companies whose market capitalizations no longer meet this definition after purchase by the Portfolio still will be considered securities of large capitalization companies for purposes of the Portfolios 80% investment policy. The Portfolio may invest up to 20% of its assets in equity securities of companies other than those with market capitalizations similar to companies in the Index (i.e., medium or small capitalization companies). The Portfolio also may invest up to 20% of its net assets in foreign securities, either directly or through depositary receipts. The Portfolio invests in companies that meet its financial and environmental, social and governance (ESG) criteria, as determined by the Portfolios Sub-Adviser. Determination of whether a company meets the Portfolios ESG standards is based on the Sub-Advisers proprietary research approach. The Sub-Adviser will exercise judgment to determine ESG best practices based on its long history of managing ESG investment strategies through an established proprietary process. The Sub-Adviser utilizes a fundamental, bottom-up research approach that emphasizes company analysis, management and stock selection. The Sub-Advisers proprietary research and analysis generally incorporates information and data obtained from a variety of third-party research providers as supplementary to the Sub-Advisers own proprietary research and analysis. The Sub-Adviser may change the third-party service providers that support this process at any time. Companies that are selected for inclusion in the Portfolio meet both the financial and ESG criteria that are part of the Sub-Advisers security selection process, with companies being weighted according to the Sub-Advisers highest-conviction ideas with adjustments to position sizes in order to manage portfolio risk. The ESG evaluation is integrated into a thorough assessment of investment worthiness based on financial criteria as well as ESG considerations including innovative workplace policies, employee benefits and programs; environmental management system strength, eco-efficiency and life-cycle analysis; community involvement, strategic philanthropy and reputation management; and strong corporate governance and independence of the board. The ESG analysis is conducted by the Sub-Advisers sector analysts on a sector-specific basis, and a proprietary ESG rating is assigned to each company. The Sub-Adviser utilizes an integrated approach that does not segment the investment process into distinct financial and ESG components; rather, financial criteria and ESG factors are considered throughout the investment process. All companies are assigned a proprietary ESG rating (A, AA, AAA). Companies that score a rating of B are excluded from the Sub-Advisers investable universe. The Sub-Advisers proprietary ESG ratings assess whether a company focuses on ESG factors, integrates ESG factors into its business model, and measures such efforts. Companies that the Sub-Adviser believes have not focused on ESG factors or have a poor ESG record are assigned a rating of B. The Sub-Adviser uses a variety of ESG factors, which may change from time to time, as part of its rating process: ?? Supply chain monitoring and standards (ethical sourcing, high degree of transparency on a companys global workforce) ?? Environmental considerations (greenhouse gas emissions targets and achievements, waste minimization and natural resource scarcity policies, environmental management systems) ??The regulatory framework to which the company is subject ??Workplace safety standards ?? Labor relations (labor management, employee sentiment, diversity, employee training and retention programs, workplace safety standards) ?? Community impact (does the company serve and have a positive impact on the communities in which it operates through actions such as volunteerism and strategic giving) ?? Green products and services (does the company utilize recyclable materials in production, does the company provide and/or utilize products or services intended to reduce environmental impact) ??Continuous improvements in energy efficiency in products and operations ??Executive compensation, independence and diversity of the board ?? Capital allocation policy (does the company allocate capital in ways that are consistent with ESG best practices and the best interests of shareholders) Further, to the extent that there is a material/substantial issue with any one of the E, S or G components with respect to a company, such company will be assigned a B rating. The Sub-Advisers ESG ratings are formally reviewed at least annually. In addition, the Sub-Advisers research analysts monitor the companies included in the Portfolio on an ongoing basis to assess the continued appropriateness of such ratings. The Sub-Adviser seeks to invest over the long term in large-capitalization companies that it considers to be of high quality with sustainable competitive advantages as evidenced by high returns on capital, strong balance sheets, and capable management teams that allocate capital in an efficient manner. The Sub-Adviser will also consider emerging companies with promising future prospects that may not yet have demonstrated substantial profitability. The Sub-Adviser will utilize fundamental analysis to identify investment candidates with these attributes and high growth potential, and evaluate industry dynamics, the strength of the business model and management skill. The Sub-Adviser may engage with and encourage company management to improve in certain ESG areas identified by the Sub-Adviser. The Sub-Adviser will sell a security if the issuer no longer meets the Sub-Advisers financial or ESG criteria. In addition, the Sub-Adviser will seek to replace securities if a companys risk/reward profile is no longer favorable due to price appreciation or if a companys investment fundamentals have deteriorated meaningfully relative to original expectations. The Sub-Adviser also may sell securities to invest in an issuer considered by the Sub-Adviser to be a more attractive investment. Show less