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 MidCap 400 Index (S&P MidCap 400 Index), including reinvestment of dividends, at a risk level consistent with that of the S&P MidCap 400 Index.
Strategy. The Portfolio normally invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities in the S&P MidCap 400 Index. For purposes of this Portfolio, equity securities in the S&P MidCap 400 Index may include financial instruments that derive their value from such securities. The Portfolios investments may include real estate investment trusts (REITs). The Sub-Adviser does not anticipate utilizing customary economic, financial or market analyses or other traditional investment techniques to manage the Portfolio. The Portfolio is constructed and maintained by utilizing a replication construction technique. That is, the Portfolio seeks to hold all securities in the S&P MidCap 400 Index in the exact weight each represents in the Index, although in certain instances … The Portfolio normally invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities in the S&P MidCap 400 Index. For purposes of this Portfolio, equity securities in the S&P MidCap 400 Index may include financial instruments that derive their value from such securities. The Portfolios investments may include real estate investment trusts (REITs). The Sub-Adviser does not anticipate utilizing customary economic, financial or market analyses or other traditional investment techniques to manage the Portfolio. The Portfolio is constructed and maintained by utilizing a replication construction technique. That is, the Portfolio seeks to hold all securities in the S&P MidCap 400 Index in the exact weight each represents in the Index, although in certain instances a sampling approach may be utilized. This strategy is commonly referred to as an indexing strategy. Individual securities holdings may differ from those of the S&P MidCap 400 Index, and the Portfolio may not track the performance of the S&P MidCap 400 Index perfectly due to expenses and transaction costs, the size and frequency of cash flow into and out of the Portfolio, and differences between how and when the Portfolio and the S&P MidCap 400 Index are valued. 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.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TECHNIPFMC PLC | — | $22.92M | 0.87% |
| CASEY'S GENERAL | — | $22.11M | 0.84% |
| UNITED THERAPEUTICS CORP DEL | — | $20.93M | 0.79% |
| CURTISS WRIGHT CORPORATION | — | $20.58M | 0.78% |
| FLEX LTD | — | $19.73M | 0.75% |
| Invesco Government & Agency Portfolio, Institutional Class | — | $18.95M | 0.72% |
| XPO LOGISTICS INC | — | $18.68M | 0.71% |
| WOODWARD INC | — | $17.49M | 0.66% |
| ROYAL GOLD INC | — | $16.90M | 0.64% |
| US FOODS HOLDING CORP | — | $16.67M | 0.63% |
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 SPDR S&P MidCap 400SM ETF Trust | 99% | — |
| Index 400 Stock Portfolio | 99% | 0.24% |
| LVIP SSGA Mid-Cap Index Fund | 99% | 0.35% |
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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