Anchor Series Trust - Phoenix Wealth Management

119 Pages·2016·0.72 MB·English

A S T
NCHOR ERIES RUST
A R
NNUAL EPORT
31, 2018
DECEMBER
Table ofContents
ShareholderLetter .................................................... 1
ExpenseExample ..................................................... 3
SAWellingtonGovernmentandQualityBondPortfolio ................... 5
SAPGIAssetAllocationPortfolio ....................................... 17
SAWellingtonCapitalAppreciationPortfolio ............................ 33
SABlackRockMulti-AssetIncomePortfolio .............................. 38
SAWellingtonStrategicMulti-AssetPortfolio ............................ 40
StatementsofAssetsandLiabilities ..................................... 50
StatementsofOperations .............................................. 51
StatementsofChangesinNetAssets .................................... 52
NotestoFinancialStatements .......................................... 55
FinancialHighlights................................................... 70
ReportofIndependentRegisteredPublicAccountingFirm ................ 74
ResultsofSpecialShareholderMeetings ................................. 75
TrusteesandOfficersInformation ...................................... 76
ShareholdersTaxInformation .......................................... 78
Comparisons:PortfoliosvsIndexes ..................................... 79
DearAnchorSeriesTrustInvestor:
We are pleased to present our annual report for the Anchor Series Trust, the underlying
investmentportfoliosfortheseriesofvariableproductsissuedbyourLifeCompanies.
The following report contains the investment portfolio information and the financial
statements of the Anchor Series Trust portfolios for the reporting period ended
December 31, 2018. The report may also contain information on portfolios not currently
availableinyourvariablecontract.
We believe this information will give you some insight into the performance of your
underlying investments. If you have any questions, please contact your investment
representative,oryoumaycontactusdirectlyat1-800-445-7862.
Thank you for the confidence you place in us with your financial future, and we look
forwardtoreportingtoyouonceagaininsixmonths.
Sincerely,
JohnT.Genoy
President
AnchorSeriesTrust
Note:AllperformancefiguresquotedarefortheAnchorSeriesTrust.Theydonotreflectfeesandchargesassociatedwith
the variable annuity. Past performance is no guarantee of future results. Annuities are long-term investment vehicles
designedforretirementpurposes.Earlywithdrawalmaybesubjecttowithdrawalchargesandiftakenpriortoage591/2,a
10%federaltaxpenaltymayapply.Aninvestmentinavariableannuityinvolvesinvestmentrisk,includingpossiblelossof
principal.Thecontract,whenredeemed,maybeworthmoreorlessthanthetotalamountinvested.
Investmentsinstocksandbondsaresubjecttorisks,includingstockmarketandinterestratefluctuations.Investmentsin
growthstocksaswellassmallandmid-capcompanystocksmaybesubjecttovolatilepriceswingsandthereforepresenta
greater potential forloss thanotherinvestments. Investmentsin non-U.S.stocksand bondsaresubjecttoadditional risks
such as fluctuations in foreign currencies, political and economic instability, differences in securities regulation and
accountingstandards,foreigntaxlaws,andlimitedavailabilityofpublicinformation.Incomeseekinginvestmentstrategies
maynotberealizedduetochangesindividendpoliciesortheavailabilityofcapitalresources.
Investments that concentrate on one economic sector or geographic region are generally subject to greater volatility than
morediverseinvestments.Investmentsinrealestateinvestmenttrusts(REITs)involveriskssuchasrefinancing,economic
conditionsintherealestateindustry,changesinpropertyvalues,dependencyonrealestatemanagement,andotherrisks
associated with a concentration in one sector or geographic region. Investments in securities related to gold and other
preciousmetalsandmineralsarespeculativeandimpactedbyahostofworldwideeconomic,financialandpoliticalfactors.
Investmentsindebtsecuritiesaresubjecttocreditrisk(i.e.,theriskthatanissuermightnotpayinterestwhendueorrepay
principalatmaturityoftheobligation).Investmentsinlower-ratedbondsand“junkbonds”areconsideredspeculativedue
totheheightenedriskofdefaultandaresubjecttounpredictablelossesasaresultofchangesintheissuer’screditworthiness.
Investmentsinderivativesaresubjecttoheightenedrisk;gainsorlossesfromnon-hedgingpositionsmaybesubstantially
greater than the cost of the position. Active trading may result in high portfolio turnover and correspondingly greater
transactioncostsfortheportfolioandunderlyingportfolios.
TherecanbenoassurancethatthePortfolioswillmeettheirinvestmentobjectives.Afulldescriptionoftheinvestmentgoals,
principalstrategies,andrisksforeachPortfolioareprovidedintheprospectus.
1
Investmentsare notguaranteed orendorsed byanybank,is notadeposit orobligationofanybank,and isnotfederally
insuredbyFederalDepositCorporation(FDIC),theFederalReserveBoardoranyotherfederalgovernmentagency.
*NotFDICorNCUA/NCUSIFInsured
*MayLoseValue*NoBankofCreditUnionGuarantee
*NotaDeposit*NotinsuredbyanyFederalGovernmentAgency
2
ANCHOR SERIES TRUST
EXPENSE EXAMPLE
December31,2018
(unaudited)
DisclosureofPortfolioExpensesinShareholderReports
As a shareholder of a separate series (a “Portfolio”) in the Anchor Series Trust (the “Trust”), you incur
ongoing costs, including management fees and/or service (12b-1) fees and other Portfolio expenses. This
exampleisintendedtohelpyouunderstandyourongoingcosts(indollars)ofinvestinginthePortfoliosandto
compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an
investment of $1,000 invested at July 1, 2018 and held until December 31, 2018. Shares of the Trust are not
offered directly to the public. Instead, shares are currently issued and redeemed only in connection with
investments in and payments under variable annuity contracts and variable life insurance policies(“Variable
Contracts”) offered by life insurance companies affiliated with SunAmerica Asset Management, LLC, the
Trust’s investment adviser and manager, as well as non-affiliated life insurance companies. The fees and
expenses associated with the Variable Contracts are not included in these examples, and had such fees and
expenses been included, your costs would have been higher. Please see your variable contract prospectus for
moredetailsonthefeesassociatedwiththeVariableContract.
ActualExpenses
The“Actual”sectionofthetableprovidesinformationaboutyouractualaccountvaluesandactualexpenses.
You may use the information in these columns, together with the amount you invested, to estimate the
expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600
account value divided by $1,000 = 8.6), then multiply the result by the number in the column under the
heading entitled “Expenses Paid During the Six Months Ended December 31, 2018” to estimate the expenses
youpaidonyouraccountduringthisperiod.The“ExpensesPaidDuringtheSixMonthsEndedDecember31,
2018” column and the “Annualized Expense Ratio” column do not include fees and expenses that may be
charged by the Variable Contracts in which the Portfolios are offered. Had these fees and expenses been
included, the “Expenses Paid During the Six Months Ended December 31, 2018” column would have been
higherandthe“EndingAccountValue”columnwouldhavebeenlower.
HypotheticalExampleforComparisonPurposes
The “Hypothetical” section of the table provides information about hypothetical account values and
hypotheticalexpensesbasedoneachPortfolio’sactualexpenseratioandanannualrateofreturnof5%before
expenses,whichisnotthePortfolio’sactualreturn.Thehypotheticalaccountvaluesandexpensesmaynotbe
used to estimate the actual ending account balance or expenses you paid for the period. You may use this
informationtocomparetheongoingcostsofinvestinginthesePortfoliosandotherfunds.Todoso,compare
this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of
other funds. The “Expenses Paid During the Six Months Ended December 31, 2018” column and the
“Annualized Expense Ratio” column do not include fees and expenses that may be charged by the Variable
ContractsinwhichthePortfoliosareoffered.Hadthesefeesandexpensesbeenincluded,the“ExpensesPaid
DuringtheSixMonthsEndedDecember31,2018”columnwouldhavebeenhigherandthe“EndingAccount
Value”columnwouldhavebeenlower.
Pleasenotethattheexpensesshowninthetablearemeanttohighlightyourongoingcostsonlyanddonot
reflect any fees and expenses that may be charged by the Variable Contracts. Please refer to your variable
contract prospectus for more information. Therefore, the “Hypothetical” example is useful in comparing
ongoing costs only and will not help you determine the relative total costs of owning different funds. In
addition,ifthesefeesandexpenseswereincluded,yourcostswouldhavebeenhigher.
3
ANCHOR SERIES TRUST
EXPENSE EXAMPLE
(continued) December31,2018
(unaudited)
Actual Hypothetical
Ending
AccountValue
Ending ExpensesPaid Usinga ExpensesPaid
AccountValue During Hypothetical During
Beginning UsingActual theSixMonths Beginning 5%Annual theSixMonths
AccountValue Returnat Ended AccountValue Returnat Ended Annualized
atJuly1, December31, December31, atJuly1, December31, December31, Expense
Portfolio 2018 2018 2018* 2018 2018 2018* Ratio*
SAWellingtonGovernmentandQuality
Bond
Class1 ........................... $1,000.00 $1,013.89 $2.89 $1,000.00 $1,022.33 $2.91 0.57%
Class2 ........................... $1,000.00 $1,012.66 $3.65 $1,000.00 $1,021.58 $3.67 0.72%
Class3 ........................... $1,000.00 $1,012.49 $4.16 $1,000.00 $1,021.07 $4.18 0.82%
SAPGIAssetAllocation@
Class1 ........................... $1,000.00 $ 954.58 $3.79 $1,000.00 $1,021.32 $3.92 0.77%
Class2 ........................... $1,000.00 $ 954.14 $4.53 $1,000.00 $1,020.57 $4.69 0.92%
Class3 ........................... $1,000.00 $ 953.83 $5.02 $1,000.00 $1,020.06 $5.19 1.02%
SAWellingtonCapitalAppreciation
Class1 ........................... $1,000.00 $ 868.59 $3.49 $1,000.00 $1,021.48 $3.77 0.74%
Class2 ........................... $1,000.00 $ 867.96 $4.19 $1,000.00 $1,020.72 $4.53 0.89%
Class3 ........................... $1,000.00 $ 867.53 $4.66 $1,000.00 $1,020.21 $5.04 0.99%
SABlackRockMulti-AssetIncome#
Class1 ........................... $1,000.00 $ 970.12 $2.88 $1,000.00 $1,022.28 $2.96 0.58%
Class3 ........................... $1,000.00 $ 968.79 $4.12 $1,000.00 $1,021.02 $4.23 0.83%
SAWellingtonStrategicMulti-Asset#@
Class1 ........................... $1,000.00 $ 917.25 $4.16 $1,000.00 $1,020.87 $4.38 0.86%
Class3 ........................... $1,000.00 $ 915.12 $5.36 $1,000.00 $1,019.61 $5.65 1.11%
* ExpensesareequaltoeachPortfolio’sannualizedexpenseratiomultipliedbytheaverageaccountvalueovertheperiod,multipliedby184days
in the period thendivided by365days (toreflect the one-halfyear period). These ratiosdonotreflectfeesandexpenses associatedwiththe
VariableContracts.Ifsuchfeesandexpenseshadbeenincluded,theexpenseswouldhavebeenhigher.PleaserefertoyourVariableContract
prospectusfordetailsontheexpensesthatapplytotheVariableContractsoftheinsurancecompanies.
# Duringthestatedperiod,theinvestmentadvisereitherwaivedaportionoforallfeesandassumedaportionoforallexpensesforthePortfolios
orthroughrecoupmentprovisions,recoveredaportionoforallfeesandexpenseswaivedorreimbursedintheprevioustwofiscalyears.Asa
result,ifthesefeesandexpenseshadnotbeenwaivedorassumed,the“Actual/HypotheticalEndingAccountValue”wouldhavebeenlower
andthe“Actual/HypotheticalExpensesPaidDuringtheSixMonthsEndedDecember31,2018”and“AnnualizedExpenseRatio”wouldhave
beenhigher.Ifthesefeesandexpenseshadnotbeenrecouped,the“Actual/HypotheticalEndingAccountValue”wouldhavebeenhigherand
the“Actual/HypotheticalExpensesPaidDuringtheSixMonthsEndedDecember31,2018”andthe“AnnualizedExpenseRatio”wouldhave
beenlower.
@SeeNote1inNotestoFinancialStatements.
4
Anchor Series Trust SA Wellington Government and Quality Bond Portfolio
PORTFOLIOPROFILE—December31,2018—(unaudited)
IndustryAllocation* CreditQuality†#
FederalHomeLoanMtg.Corp. ............................. 20.9% Aaa ..................................................... 67.5%
UnitedStatesTreasuryBonds............................... 13.5 Aa ...................................................... 7.8
FederalNationalMtg.Assoc. ............................... 13.0 A ....................................................... 13.5
DiversifiedFinancialServices ............................... 10.8 Baa ...................................................... 4.4
UnitedStatesTreasuryNotes ............................... 10.7 NotRated@ .............................................. 6.8
Banks-Commercial ........................................ 6.5
100.0%
RepurchaseAgreements ................................... 5.4
DiversifiedBankingInstitutions............................. 4.5
GovernmentNationalMtg.Assoc............................ 3.2 † Source:Moody’s
# Calculatedasapercentageoftotaldebtissues
MunicipalBonds&Notes .................................. 2.8
@ Representsdebtissuesthateitherhavenorating,ortheratingis
Electric-Integrated......................................... 2.1
unavailablefromthedatasource.
Sovereign ................................................ 1.6
* Calculatedasapercentageofnetassets
Banks-SuperRegional ..................................... 1.0
Electric-Distribution ....................................... 0.8
Brewery.................................................. 0.8
E-Commerce/Products .................................... 0.7
Medical-Drugs............................................ 0.7
OilCompanies-Exploration&Production .................... 0.6
Insurance-Multi-line ....................................... 0.6
Cable/SatelliteTV......................................... 0.6
RealEstateInvestmentTrusts............................... 0.6
Auto-Cars/LightTrucks ................................... 0.5
MedicalLabs&TestingServices ............................ 0.5
Gas-Distribution .......................................... 0.5
Transport-Services ........................................ 0.5
Medical-Hospitals......................................... 0.5
Schools .................................................. 0.4
OilCompanies-Integrated .................................. 0.4
EnterpriseSoftware/Service ................................ 0.3
Insurance-Mutual ......................................... 0.3
PropertyTrust ............................................ 0.3
ApplicationsSoftware ..................................... 0.3
Banks-Fiduciary .......................................... 0.3
Medical-HMO ............................................ 0.2
CellularTelecom .......................................... 0.2
Computers ............................................... 0.2
Banks-Export/Import...................................... 0.2
MedicalInstruments....................................... 0.2
DiversifiedManufacturingOperations ....................... 0.2
ResolutionFundingCorp .................................. 0.2
InternetApplicationSoftware............................... 0.1
SpecialPurposeEntities .................................... 0.1
Water.................................................... 0.1
Multimedia............................................... 0.1
108.0%
5
Anchor Series Trust SA Wellington Government and Quality Bond Portfolio
PORTFOLIOOFINVESTMENTS—December31,2018
Principal Value Principal Value
SecurityDescription Amount (Note2) SecurityDescription Amount (Note2)
ASSETBACKEDSECURITIES—10.8% DiversifiedFinancialServices(continued)
DiversifiedFinancialServices—10.8% COMMMtg.Trust
AjaxMtg.LoanTrustVRS Series2012-CR2,ClassA4
Series2017-B,ClassA 3.15%due08/15/2045(4) .......... $ 1,020,000 $ 1,016,521
3.16%due09/25/2056*(1) ......... $ 4,749,496 $ 4,687,995 DeephavenResidentialMtg.TrustVRS
AngelOakMtg.TrustLLCVRS Series2017-3A,ClassA1
Series2017-3,ClassA1 2.58%due10/25/2047*(1)(2) ....... 750,871 741,302
2.71%due11/25/2047*(1)(2) ....... 710,050 704,337 DeephavenResidentialMtg.TrustVRS
AngelOakMtg.TrustLLCVRS Series2018-1A,ClassA1
Series2018-3,ClassA1 2.98%due12/25/2057*(1)(2) ....... 1,247,226 1,235,286
3.65%due09/25/2048*(1)(2) ....... 4,507,679 4,512,340 EnterpriseFleetFinancingLLC
ApidosCLOFRS Series2017-3,ClassA2
Series2015-21A,ClassA1R 2.13%due05/22/2023*............ 1,892,597 1,875,855
3.37%(3ML+0.93%) EnterpriseFleetFinancingLLC
due07/18/2027*(3) ............... 3,120,000 3,091,411 Series2018-1,ClassA2
ApidosCLOFRS 2.87%due10/20/2023*............ 2,015,000 2,008,668
Series2013-16A,ClassA1R EnterpriseFleetFinancingLLC
3.43%(3ML+0.98%) Series2018-3,ClassA2
due01/19/2025*(3) ............... 2,691,223 2,689,842 3.38%due05/20/2024*............ 2,320,000 2,327,097
ApidosCLOFRS FinanceofAmericaStructured
Series2015-22A,ClassA1 SecuritiesTrustVRS
3.97%(3ML+1.50%) Series2017-HB1,ClassA
due10/20/2027*(3) ............... 3,000,000 2,999,238 2.32%due11/25/2027*(1) ......... 514,607 513,419
ARIFleetLeaseTrust FirstInvestorsAutoOwnerTrust
Series2018-A,ClassA2 Series2017-3A,ClassA1
2.55%due10/15/2026*............ 1,365,000 1,358,527 2.00%due03/15/2022*............ 1,137,565 1,132,179
ARIFleetLeaseTrust FirstInvestorsAutoOwnerTrust
Series2018-B,ClassA2 Series2017-3A,ClassA2
3.22%due08/16/2027*............ 1,535,000 1,539,266 2.41%due12/15/2022*............ 1,265,000 1,255,042
FordCreditFloorplanMasterOwner
BayviewKoitereFundTrustVRS
Trust
Series2017-RT4,ClassA
Series2013-2,ClassA
3.50%due07/28/2057*(1) ......... 2,350,287 2,329,635
2.09%due03/15/2022*............ 590,000 583,263
BenefitStreetPartners,Ltd.FRS
GreatAmericaLeasingReceivables
Series2016-9A,ClassAR
FundingLLC
3.58%(3ML+1.11%)
Series2018-1,ClassA3
due07/20/2031*(3) ............... 795,000 782,650
2.60%due06/15/2021*............ 1,290,000 1,283,080
CanadianPacerAutoReceivablesTrust
GreatAmericaLeasingReceivables
Series2017-1A,ClassA3
FundingLLC
2.05%due03/19/2021*............ 1,335,000 1,325,588
Series2018-1,ClassA4
CanadianPacerAutoReceivablesTrust
2.83%due06/17/2024*............ 820,000 817,735
Series2018-2A,ClassA2A
HyundaiAutoLeaseSecuritization
3.00%due06/21/2021*............ 901,000 901,487
Trust
CanadianPacerAutoReceivablesTrust
Series2018-A,ClassA2A
Series2018-2A,ClassA3
2.55%due08/17/2020* ............ 3,892,677 3,883,084
3.27%due12/19/2022*............ 230,000 231,746
MadisonParkFunding,Ltd.FRS
ChesapeakeFundingIILLC
Series2018-30A,ClassA
Series2017-2A,ClassA1
3.19%(3ML+0.75%)
1.99%due05/15/2029*............ 2,154,833 2,132,247
due04/15/2029*(3) ............... 8,000,000 7,817,840
ChesapeakeFundingIILLC
MadisonParkFunding,Ltd.FRS
Series2017-4A,ClassA1
Series2013-11A,ClassAR
2.12%due11/15/2029*............ 4,319,012 4,272,207
3.64%(3ML+1.16%)
ChesapeakeFundingIILLC
due07/23/2029*(3) ............... 4,300,000 4,279,760
Series2018-2A,ClassA1
Magnetite,Ltd.FRS
3.23%due08/15/2030*............ 2,005,000 2,014,059
Series2012-7A,ClassA1R2
ColombiaCent,Ltd.FRS
3.24%(3ML+0.80%)
Series2018-27A,ClassA1
due01/15/2028*(3) ............... 5,535,000 5,431,496
3.64%(3ML+1.15%)
Magnetite,Ltd.FRS
due10/25/2028*(3) ............... 1,820,000 1,805,063
Series2016-18A,ClassAR
COLTMtg.LoanTrustVRS
3.70%(3ML+1.08%)
Series2018-1,ClassA1
due11/15/2028*(3) ............... 6,518,000 6,489,132
2.93%due02/25/2048*(1)(2) ....... 1,262,910 1,248,445
MasterCreditCardTrustFRS
COLTMtg.LoanTrustVRS
Series2017-3,ClassA
Series2018-3,ClassA1
2.97%(1ML+0.49%)
3.69%due10/26/2048*(1)(2) ....... 1,150,008 1,148,780 due07/21/2024* ................. 4,730,000 4,713,496
6
Anchor Series Trust SA Wellington Government and Quality Bond Portfolio
PORTFOLIOOFINVESTMENTS—December31,2018—(continued)
Principal Value Principal Value
SecurityDescription Amount (Note2) SecurityDescription Amount (Note2)
ASSETBACKEDSECURITIES(continued) DiversifiedFinancialServices(continued)
DiversifiedFinancialServices(continued) ThacherParkCLO,Ltd.FRS
MetLifeSecuritizationTrustVRS Series2014-1A,ClassAR
Series2017-1A,ClassA 3.63%(3ML+1.16%)
3.00%due04/25/2055*(1)(2) ....... $ 1,525,418 $ 1,501,295 due10/20/2026*(3) ............... $ 5,100,000 $ 5,098,740
MillCityMtg.LoanTrustVRS TowdPointMtg.TrustVRS
Series2016-1,ClassA1 Series2016-3,ClassA1
2.50%due04/25/2057*(1) ......... 615,834 602,586 2.25%due04/25/2056*(1) ......... 1,405,178 1,372,918
MillCityMtg.LoanTrustVRS TowdPointMtg.TrustVRS
Series2017-3,ClassA1 Series2017-4,ClassA1
2.75%due01/25/2061*(1) ......... 1,750,289 1,710,058 2.75%due06/25/2057*(1) ......... 2,625,267 2,554,341
MMAFEquipmentFinanceLLC TowdPointMtg.TrustVRS
Series2017-B,ClassA3 Series2018-1,ClassA1
2.21%due10/17/2022*............ 1,835,000 1,806,610 3.00%due01/25/2058*(1) ......... 1,333,655 1,309,293
NationstarHECMLoanTrustVRS TremanParkCLO,Ltd.FRS
Series2017-2A,ClassA1 Series2015-1A,ClassARR
2.04%due09/25/2027*(1) ......... 388,338 387,125 3.53%(3ML+1.07%)
NationstarHECMLoanTrustVRS due10/20/2028*(3) ............... 5,995,000 5,973,250
Series2018-1A,ClassA VantageDataCentersIssuerLLC
2.76%due02/25/2028*(1) ......... 676,682 676,617 Series2018-1A,ClassA2
OneMainDirectAutoReceivablesTrust 4.07%due02/16/2043*............ 1,670,958 1,674,302
Series2017-2A,ClassA VoyaCLO,Ltd.FRS
2.31%due12/14/2021* ............ 1,960,000 1,947,910 Series2014-4A,ClassA1RA
OneMainDirectAutoReceivablesTrust 3.54%(3ML+1.10%)
Series2018-1A,ClassA due07/14/2031*(3) ............... 7,240,000 7,160,534
3.43%due12/16/2024* ............ 3,815,000 3,822,390 WestlakeAutomobileReceivablesTrust
SecuritizedTermAutoReceivablesTrust Series2018-1A,ClassA2A
Series2016-1A,ClassA3 2.24%due12/15/2020* ............ 2,760,993 2,753,340
1.52%due03/25/2020* ............ 851,754 848,993
TotalAssetBackedSecurities
SecuritizedTermAutoReceivablesTrust
(cost$155,301,601) .................. 153,949,384
Series2017-2A,ClassA3
2.04%due04/26/2021* ............ 1,130,000 1,117,750 U.S.CORPORATEBONDS&NOTES—15.1%
SecuritizedTermAutoReceivablesTrust ApplicationsSoftware—0.3%
Series2018-2A,ClassA3 MicrosoftCorp.
3.33%due08/25/2022* ............ 6,115,000 6,162,602 SeniorNotes
SFAVECommercialMtg.Securities 2.40%due08/08/2026............. 4,015,000 3,743,374
TrustVRS Auto-Cars/LightTrucks—0.5%
Series2015-5AVE,ClassA2B DaimlerFinanceNorthAmericaLLC
4.14%due01/05/2043*(1)(4) ....... 2,340,000 2,199,113 CompanyGuar.Notes
SoFiConsumerLoanProgramTrust 2.25%due07/31/2019*............ 190,000 188,605
Series2018-2,ClassA1 DaimlerFinanceNorthAmericaLLC
2.93%due04/26/2027*............ 1,476,856 1,473,113 CompanyGuar.Notes
SoFiConsumerLoanProgramTrust 2.30%due02/12/2021*............ 2,910,000 2,839,346
Series2018-4,ClassA DaimlerFinanceNorthAmericaLLC
3.54%due11/26/2027*............ 4,022,742 4,027,040 CompanyGuar.Notes
SoundPointCLO,Ltd.FRS 3.88%due09/15/2021*............ 210,000 211,312
Series2013-2RA,ClassA1 ToyotaMotorCreditCorp.
3.39%(3ML+0.95%) SeniorNotes
due04/15/2029*(3) ............... 4,700,000 4,637,951 1.90%due04/08/2021............. 3,680,000 3,607,679
SoundPointCLO,Ltd.FRS VolkswagenGroupofAmericaFinance
Series2016-2A,ClassA LLC
4.13%(3ML+1.66%) CompanyGuar.Notes
due10/20/2028*(3) ............... 2,865,000 2,864,123 2.45%due11/20/2019*............ 795,000 787,420
SpringleafFundingTrust
7,634,362
Series2015-AA,ClassA
3.16%due11/15/2024*............ 611,796 610,952 Banks-Commercial—0.5%
SpringleafFundingTrust BB&TCorp.
Series2015-BA,ClassA SeniorNotes
3.48%due05/15/2028*............ 1,070,000 1,066,545 3.20%due09/03/2021............. 3,580,000 3,576,485
SPSServicerAdvanceReceivablesTrust FifthThirdBank
Series2018-T1,ClassAT1 SeniorNotes
3.62%due10/17/2050* ............ 1,405,000 1,410,775 2.88%due10/01/2021............. 450,000 444,686
7
Anchor Series Trust SA Wellington Government and Quality Bond Portfolio
PORTFOLIOOFINVESTMENTS—December31,2018—(continued)
Principal Value Principal Value
SecurityDescription Amount (Note2) SecurityDescription Amount (Note2)
U.S.CORPORATEBONDS&NOTES(continued) Cable/SatelliteTV—0.6%
Banks-Commercial(continued) ComcastCorp.
PNCBankNA CompanyGuar.Notes
SeniorNotes 3.00%due02/01/2024............. $ 2,695,000 $ 2,627,464
2.60%due07/21/2020............. $ 2,150,000 $ 2,131,140 ComcastCorp.
PNCBankNA CompanyGuar.Notes
SeniorNotes 3.95%due10/15/2025............. 2,535,000 2,565,008
3.30%due10/30/2024............. 865,000 856,211 ComcastCorp.
CompanyGuar.Notes
7,008,522
3.97%due11/01/2047............. 674,000 602,457
Banks-Fiduciary—0.3% ComcastCorp.
BankofNewYorkMellonCorp. CompanyGuar.Notes
SeniorNotes 4.25%due01/15/2033............. 200,000 198,635
2.20%due08/16/2023............. 2,250,000 2,136,460 ComcastCorp.
StateStreetCorp. CompanyGuar.Notes
SeniorNotes 4.60%due10/15/2038............. 1,300,000 1,312,712
2.65%due05/15/2023............. 1,495,000 1,456,171 ComcastCorp.
CompanyGuar.Notes
3,592,631
4.75%due03/01/2044............. 939,000 940,504
Banks-SuperRegional—1.0%
8,246,780
HuntingtonNationalBank
SeniorNotes CellularTelecom—0.2%
2.20%due04/01/2019............. 1,050,000 1,047,951 CrownCastleTowersLLC
USBancorp Mtg.Notes
Sub.Notes 3.22%due05/15/2042*............ 3,550,000 3,490,963
7.50%due06/01/2026............. 400,000 481,260 Computers—0.2%
WellsFargo&Co. Apple,Inc.
SeniorNotes SeniorNotes
2.50%due03/04/2021............. 3,000,000 2,950,719 3.25%due02/23/2026............. 1,050,000 1,024,933
WellsFargo&Co. Apple,Inc.
SeniorNotes SeniorNotes
3.00%due10/23/2026............. 1,780,000 1,647,789 3.45%due05/06/2024............. 1,815,000 1,823,604
WellsFargo&Co.
2,848,537
SeniorNotes
3.07%due01/24/2023............. 735,000 715,834 DiversifiedBankingInstitutions—2.3%
WellsFargo&Co. BankofAmericaCorp.
Sub.Notes SeniorNotes
3.45%due02/13/2023............. 1,770,000 1,732,862 3.00%due12/20/2023............. 1,547,000 1,503,697
WellsFargo&Co. BankofAmericaCorp.
Sub.Notes SeniorNotes
4.65%due11/04/2044............. 585,000 550,720 3.59%due07/21/2028............. 2,245,000 2,128,977
WellsFargoBankNA BankofAmericaCorp.
SeniorNotes SeniorNotes
2.15%due12/06/2019............. 5,000,000 4,954,662 4.13%due01/22/2024............. 2,200,000 2,229,980
Citigroup,Inc.
14,081,797
SeniorNotes
Brewery—0.8% 3.30%due04/27/2025............. 3,000,000 2,848,970
Anheuser-BuschCos.LLC/Anheuser- Citigroup,Inc.
BuschInBevWorldwide,Inc. SeniorNotes
CompanyGuar.Notes 3.52%due10/27/2028............. 535,000 498,936
3.65%due02/01/2026*............ 3,275,000 3,096,671 GoldmanSachsGroup,Inc.
Anheuser-BuschInBevFinance,Inc. SeniorNotes
CompanyGuar.Notes 3.27%due09/29/2025............. 2,075,000 1,945,048
3.30%due02/01/2023............. 5,100,000 4,958,978 GoldmanSachsGroup,Inc.
Anheuser-BuschInBevWorldwide,Inc. SeniorNotes
CompanyGuar.Notes 3.81%due04/23/2029............. 2,565,000 2,394,749
2.50%due07/15/2022............. 1,640,000 1,565,856 GoldmanSachsGroup,Inc.
Anheuser-BuschInBevWorldwide,Inc. SeniorNotes
CompanyGuar.Notes 4.80%due07/08/2044............. 1,155,000 1,099,939
3.50%due01/12/2024............. 2,040,000 1,995,417 JPMorganChase&Co.
SeniorNotes
11,616,922
4.45%due12/05/2029............. 4,775,000 4,856,866
JPMorganChase&Co.
SeniorNotes
4.95%due03/25/2020............. 2,000,000 2,042,325
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